Dear Experts,

I have sold a In heritage Agriculture Land on 2012 of Rs. 22 lacs. on the sale of land Agriculture Land comes under urban land. the same land was bought by my father in 1965.

now my query is whether I m liable to pay income Tax ? If yes, than how much and what is the procedures ?

Thanks,

Vijay Jain

Dear Sir,

It is said that when the pan number is mentioned on the bilty/transport bill the tds need not be deducted. i have come across a situation where in i have been told that if the tds id preprinted it is acceptable,,,but if it is written with the pen than this provision is not applicable....is it true?? are we not suppose to deduct the tds if the pan number is hand written by the owner/driver.

please answer me sir.

We have a automobile company where we are in the business of sale purchase of new car.my point of query is we have sold a new car of rs 10 lac with RTO registration and insurance charges of Rs 1.5 laces to customer.But due to some technical fault customer return the car get his entire amount which is Rs 11.5(10+1.5) laces . company bear the direct loss of rs 3 laces when company sold the same car to some other person below purchase price.now please suggest how to settle down the cost of RTO and insurance which is rs 1.5 Laces. can be treat the same as abnormal loss and write- off the same in coming year in five equal installments as such loss arise not in the nature of routine accounting. please suggest

i have deducted preliminary exp. from reserves in balance sheet.reserves are already negative. the co. has to pay tax but on which amount? profit as per new format of P/l in which preliminary exp. are not deducted or on the baiance amount of profit as per p/l minus preliminary exp. plz reply ASAP.

In case hiring of cab by employees and directors of a company to travel for business purpose attracts reverse charge?

Pls anybody tell me how can i known the Form 23B for appointment of auditor is to be filed or not after login on the MCA21 side or in case of the online genrated receipt is lost. And also let me known the if now we filed the Form 23B for appointment of auditor for FY 2012-13 how much fee is to be paid??

I have been doing tax audit of a public limited company for past 3 years from AY 2010-11 to AY 2012-13.
For current year of AY 2013-14 I have been co-ordinating with the Head of Finance dept.for past 3 months. He didn't give me appointment letter neither he told me that he is cancelling our tax audit this year.
I have made certain preparations for the audit of the same for this year.
Now suddenly the management is saying that we shall cancel your audit relating to Fees issues.As they are getting other auditors in less charges.
Please tell me that whether I should allow them to cancel the audit. Is there any rules for under-cutting as per C.A. institute.
If i do not permit new auditor to conduct the audit under such circumstances (Under - cutting of Fees & Late information)than please tell me that whether i i am doing something wrong.
Further please tell me what are my rights in such a case. What should i do in such a case.
Please quote the rules of C.A. Institute in this regards.
Please reply
Thanks in advance

Sir,

What is the Tax Treatment of Interest income on T.D.S.?

My company pays directly to few Hotels towards accommodation charges of our executivrs, when they come on tour and stay.They provide the rooms as and when required at specific tariffs to our different grade employees within their entitlement.

Since these are not regular booking of specif rooms or I hope will not covered under Sec 194(I) for deduction of TDS On rent.

Pl clarify whether TDS TO BE DEDUCTED UNDER ANY OTHER SECTION OR NOT TO BE DEDUCTED.

If TDS to be deducted on 24.04.2013 while company deduct the same on 26.05.2013 & deposit it on 07.06.2013, what should be the late deduction or late payment interest and for what period.