If the amounts where received in gross and later the cline realized that tax had to be deducted on payments and he paid taxes and issue TDS certificated after me filing of returns . Can the TDS certificate be refused?

are the liquor expenses allowable under the act

Sir please advices me the procedure to get the copy of evaluated answer sheet of PCC June-09 exam

Thanks in Advance

In my current assignment, company book the TDS on Receipts at the time of receipt of payment. If bill has been booked in the previous year and I m receiving payment in the current year then debtor must hav booked the TDS at the time of receipt of bill (i.e. in the previous yr. ) . So can i take credit of the same in the current yr. of TDS deducted.

Can anyone suggest best coaching institute/faculty in Delhi for Quantitative Aptitude - CPT ?

Would appreciate an early reply.

Warm Regards

Pradeep Goyal
Cell: +91-9811792318

As per Section 80CCD, contribution upto 10% of salary is available for deduction in respect of both employer and employee contribution and thus total 20% deduction is available. However, as per 80CCE the aggregate of deduction under Section 80C, 80CCC & 80CCD is limited to Rs.100,000.

As per Section 80CCE (3), the amount standing to the credit of Pension account in respect of which a deduction has been allowed together with the amount accrued thereon, when received by an assessee when such account is closed or when pension is received from annuity purchased out of such amount is subject to tax.

If an assessee and his employer had contributed amount ranging from Rs. 100,000 to Rs.200,000 each year (which is 10% of salary)for 20 years and actual deduction allowed under Section 80CCD ranges from Rs Nil to Rs.100,000 during those 20 years (Nil deduction under Section 80CCD in some years because deduction claimed under Section 80C itself amounted to Rs.100,000), how taxable amount would be computed when the account is closed. Is the employee required to keep records of 20 years to prove what amount has been allowed as deduction and even if such records are available, on what basis he would compute the taxable portion and non taxable portion based on what amount he has been actually allowed each year. Would NAV of units each year needs to be reckoned in for this purpose and computed separately for taxable portion and non taxable portion.

Further is an ordinary tax payer required to keep records for 20 years in respect of salary (since only 10% of basic salary plus DA is allowed as deduction under section 80CCD), how much deduction he has claimed under Section 80C, 80CCC & 80CCD in each of the years (since the aggregate of deductions claimed under Section 80C, 80CCC & 80CCD cannot exceed Rs.100,000 in a year) and NAV of each of 20 years and compute the accumulations on the amount of contributions which have been allowed as deduction for tax purposes and compute the accumulations on the amount of contributions in respect of which deduction has not been claimed under Section 80CCD. What would be the position if contribution covers a period of 30 or 40 years? Is he required to maintain documents for 30/40 years?

Krishnan

Sir,
in case of corporate(Non Financing Co) assesse,wheather it is correct to show Interest Income earned by the co. under the head "BUSINESS INCOME" (In ITR 6)or it should be shown under the head "INCOME FROM OTHER SOURCE"

please suggest

with regards

raj

hi dear,
I have applied for Membership cum COP. I got membership No, but not COP. Can I sign Tax Audit report in my personal name as CA ? if yes, where it is written ?

Service tax is payable on Erection, commissioning or installation of plant,machinery or euipments.

is service tax payable on fabrication?

The activity of fabrication is a pre-stage of erection. The item is first fabricated then its erected and installed.

SIR ,
WITH REFERENCE TO MY PREVIOUS QUERY RELATED TO CHARGING OF DEPRECIATION, I WOULD LIKE TO KNOW WHEATHER THE FOLLOWING CALCULATION IS CORRECT
WDV AS ON 1/4/2006 (15%) RS 120000
LESS:DEP RS 18000
WDV AS ON 1/4/2007 RS 102000
LESS DEP RS 15300
WDV AS ON 1/4/2008 RS 86700
THEREFORE DEPRECIATION FOR THE PY SHOULD BE CALCULATED ON RS 86700 ie RS 13005

WITH REGARDS

RAJ