Dear Sir,

I have a query on TDS on Contract.
Query:

Suppose i receive labour job bill amounting to Rs. 33000/- & I deduct TDS on it at appropriate rate. Again after some months during the same financial year i receive bill from the same party amounting to Rs.5000/- for labour job done. Do i require to deduct TDS on this bill? or i should check & Confirm whether aggregate amount of Labour job during the year crosses threshold limit of Rs.75,000/-? Is it mentioned in Act or some other guidance material that once i deduct TDS it is my liability to deduct TDS on subsequent bills also even though they are below Rs.30000/-? I need supportings to clear my doubts.

If TDS is deducted on 31/12/2013 and deposited on 08/1/2014 how many months interest is payable?

Dear Sir

Is it required to deduct TDS in all cases on Service tax or any exception for the same.


Thanks

I WANT TO ASK RELATED TO HRA EXEMPTION THAT
1) ACTUAL HRA RECEIVED
2)10% WILL BE CALCULATED WHETHER IN BASIC OR BASIC+DA
3)50* OR 40%WILL BE CALCULATED WHETHER IN BASIC OR BASIC+DA

MY QUESTION IS IN NO-2 AND NO-3
IN THESE THREE WHAT WILL BE TAKEN FOR HRA EXEMPTION

9th January 2014
I Wish forum members a happy and prosperous new year.

My query is - A company has availed technical services from IIT, Madras (Indian Institute of Technology) and had paid Rs.35000/- for the services availed. Since IIT is wholly / substantially finance by the Central Government Section 10 (23C) of the Income Tax Act exempts such income from tax for IIT. In view of the above the company has not deducted any tax (TDS) at source from the amount paid to IIT. IIT has also submitted a letter to the company. The said letter was issued by Office of the Director of Income Tax (Exemptions).
My query is whether the above payment made to IIT is to be disclosed in the quarterly TDS return to be filed by the company.
If the answer to the above query is YES - then is it enough if the company mentions the Reference Number of the letter issued by the Office of the Director of Income Tax (Exemptions), in the TDS return in the Annexure Sheet.
with regards
R. Muralidharan

I have two amounts reflecting under Outstanding Tax demand for AY 05-06 and AY 07-08. I had a business earlier which was closed in Feb, 2008. I do not have any old documents from my business since I have changed city. How do I clear the Outstanding Tax demand which is reflecting on incometaxindiaefiling.gov.in?

Company receives a show cause notice from roc for violation of section 146 of the companies act 1956. States that roc have received a complaint form one of the director of the company and company have not filled form 18 as change of the registered office . But technically the company has filled the form and it's in the records of the roc , surprisingly letter was also posted on the registered office only which the company is presently having. Need assistance ?

If the Induvidual has one house(Letout) in one state and another house(Letout) in another state and she has received HRA.How can i take the two houses as letout or One house letout and another house self occupied.
Please advice me.


Thanks in Advance.

Dear Sir,
Please advise on the following issue:

A has purchased a DDA flat in 1993 at a cost of Rs 50000/-then he incurred the following expenses:

i. Instalments paid to DDA- Rs. 1 lac
2. Penalty/intt. paid to DDA on late payment: rs 1 lac
3. Freehold charges Rs 0.50 lacs
4. Addition made in the flat by constructing additional room : Rs 2 lacs

As on date the market value of the flat is appx. Rs 30 lacs.

A has purchased another residential Flat in Noida for Rs 30 lacs against loan from a Bank and the flat is under construction and expected date of posseion is April 2016.

Query Is:

A wants to sell his Delhi house and from the proceeds he wants to pay off the bank Loan.

is there a way out to save the capital gain tax on the sale of delhi house and what should A do to mitigate the capital gain tax or minimise the same based on the above facts.

Pls let me have a considered view on above.

Thanks
PCJ

Dear Expert,

I want assistance as regards the following situation

A woman had purchased a flat before 1981 and registered in her name. In Nov,13 she sold the flat of 60 lakhs and executed a will which had indicated the manner of distribution of the proceeds amongst her children and clearly indicated her eldest son shall be responsible for the payment of tax. She died in December , 2013. It is clear that long term capital gains shall be attracted and her eldest son shall be responsible for paying the taxes.

All i wanted to know is whether the eldest son if he purchases a new flat and if he wishes to invest in nhai or rec bonds will be allowed to avail the exemption or not? kindly, if possible, give reference to section or case laws, if any

Thanks & Regards