MR X HAS PURCHASED AN UNDERCONSTRUCTION PROPERTY FROM THE DEVELOPER 3 YEARS AGO(i.e JUNE 2010) FOR WHICH AGREEMENT WAS MADE BUT THE PROPERTY WAS NOT REGISTERED BECAUSE MR X HOLDED IT AS AN INVESTMENT. MR X WAS TO PAY TO THE DEVELOPER IN 10 INSTALLMENTS IN WHICH 8 ARE DUE AND PAYMENT HAS BEEN MADE FOR 8 INSTALLMENTS AND 2 INSTALLMENTS ARE NOT YET DUE. NOW MR X HAS ASSIGNED THE PROPERTY TO MR Y ON DEC 2013 AND MR Y NEEDS TO PAY 70 LACS TO MR X AND 10 LACS FOR 2 INSTALLMENTS WHICH ARE NOT YET DUE TO THE DEVELOPER i.e MR Y HAS BEEN SUBSTITUTED IN PLACE OF MR X IN THE AGREEMENT.MY QUESTION IS
1. WILL MR Y HAVE TO DEDUCT TDS ON AMOUNT PAID TO MR X i.e 70 LACS AS PER SECTION 194IA?
2. WILL MR Y HAVE TO DEDUCT TDS ON AMOUNT PAID TO DEVELOPER i.e 10 LACS AS PER SECTION 194IA?

HI,

CAN ANYBODY TELL ME WHAT SHOULD WE CAN FILL UNDER CHALLAN DETAIL PAGE 2ND ``INTEREST`` COLUMN AT THE END OF RIGHT SIDE.

PLS NOTE I AM NOTE ASKING ABOUT FIRST INTEREST COLUMN IN CHALLAN DETAIL.

THE ABOVE INQUIERY RELATE TO RPU 3.7

THANKS

SIR PLEASE TELL ME THE ENTRY FOR
1.GOODS RECEIVED FROM H.O
2.CASH RECEIVED FROM H.O.
3.STOCK RECEIVED FROM H.O.
4.FIXED ASSETS RECV FRM H.O.

THANKS IN ADVANCE

Costs are reported for this company on the basis of thirteen four-weekly period.

Calculate the cost of running one machine for a four week period.

ans:
Annual Depreciation
= (52000)*4/13
(as per practice manual)

or

= 52000/13
(i feel that this is correct)

Dear Sir,

I just want to ask that interest u/s 220(2) on which amount will be paid?
Either on late payment amount of TDS or short deduction amount of TDS or Late filling of TDS or in all of above?

Give a reply as early as possible.

what should i do aftr graduation....as i am a cs inter student....should i pursue law or may be CA...or M.com

Govt. deductors pay TDS through Book Adjustment Entry. I know that some of these Government deductors got notice for defaults for short deduction- interest for late payment etc. for various reasons.
How would they pay this. Is it by Book Adjustment Entry or by cash.

MR. A IS DIRECTOR IN ABC CO. PVT. LTD. A HAS GIVEN UNSECURED LOAN OF RS. 50 LAKH TO THE COMPANY. THE COMPANY IN IT'S TURN HAS GIVEN LOAN OF RS. 25 LAKH TO HUF OF MR. A . WHETHER
PROVISIONS OF SECTION 2(22) OF INCOME TAX ACT, ARE ATTRACTED .

sir
what is the format of working diary ?
how it should b maintained
can it b a loose file or a bound book
is there any fixed format given by icai
or simply how working diary should appear

A client have an Rental Income from Immoveable Property of Rs. 9,55,680.00 in the financial year 2010-11.
In the subsequent year i.e. FY 2011-12 & 2012-13 the Rental Income increased to Rs. 14,45,000.00 in both years.
The client want to File declaration under VCES.
So will the client be able to take the benefit of exemption of Rs. 10,00,000.0. in the FY 2011-12 and file the declaration on the balance amount of Rs. 4,45,000.00 for FY 2011-12 & Rs. 14,45,000.00 for the FY 2012-13.