A Prop. Use 20% his Vechicle in business
if he paid insurance primium on this vehicle
if any ins. exp. disallowed
so which in section exp. disalloed

in Case of Depriciation same case

Dear all,

My father purchased a plot for Rs. 3375 ( including legal exps.)on 15.03.1977. He constructed a residential building on it in 1981-82 which cost Rs. 3 lac. He sold the building for cash amounting Rs. 11,26,300/- on 16.03.2009. The consideration is still remaining unutilised.

Please tell me whether there is any capital gain on this transaction? If yes, how much tax to be levied? Can we avoid the tax through planning?

I shallbe obliged to the responding experts to answer my queries.

Thank u

I had Exported a consignment to Hungary under rebate claim. I got proof of Export, I took Refund against Rebate claim.

Now I reimport the rejected part consignment by paying import duty, shall i intimate the Central Excise Range regarding reimport or shall Central excise people verify the same as per law.

what are the documents for incorporation of public and private limited company?

Dear Experts,

As per the subsections (5),(6) of clause 2 of Chapter II of the Finance Bill (No. 2), 2009 as mentioned below:

(5) In cases in which tax has to be deducted under sections 193, 194, 194A, 194B, 194BB, 194D and 195 of the Income-tax Act, at the rates in force, the deductions shall be made at the rates
specified in Part II of the First Schedule and shall be increased by a surcharge, for purposes of the Union, calculated in cases wherever prescribed, in the manner provided therein.
(6) In cases in which tax has to be deducted under sections 194C, 194E, 194EE, 194F, 194G, 194H, 194-I, 194J, 194LA, 196B, 196C and 196D of the Income-tax Act, the deductions shall be made at the rates specified in those sections and shall be increased by a surcharge, for purposes
of the Union, in the case of every company, other than a domestic company, calculated at the rate of two and one-half per cent of such tax, where the income or the aggregate of such incomes paid or likely to be paid and subject to the deduction exceeds one crore rupees.

I have observed the following in regard to Sec 194A, 194C, 194H, 194I and 194J:


1. Surcharge has to be added to TDS in case of Section 194A.
2. Surcharge is to be paid @ 2.5% to foreign companies only when the payment exceeds Rs. 1 crore.

That means that the earlier threshold of Rs. 10 Lackhs on individual or HUF and Rs. 1 Cr on companies on which surcharge was applicable has been removed?

Also will Cess of 3% be applicable if there is no surcharge?

Please verify whether my understanding is right, and if not please correct me.

Waiting for early response from the experts.

Thanks in advance

Madhumita Binani

i am employye of some organisation, can i register a company on my name parallely??

My friend is running a soleproprietorship concern for the past4 yrs. he has availed OD for the business purpose & housing loan for his aquiring a house. The interest on OD is debited to p&l account under finance charges & interest paid on housing loan Rs. 10lacs is debited to his capital account. Now he wants to reverse the interest portion debited to capital a/c by debiting/capitalizing house building. Is this correct treatment,Also is this int considered as cost of acquisition at the time of transfer of Building

whether tds is a duty which should be paid and reported under section 43b of 3cd audit report

Thanks

RULES REGARDING TAX AUDIT
I HEAR THAT MAXIMUM LIMIT INCREASE UP TO RS. 45 LACS

My friend is running a soleproprietorship concern for the past4 yrs. he has availed OD for the business purpose & housing loan for his aquiring a house. The interest on OD is debited to p&l account under finance charges & interest paid on housing loan Rs. 10lacs is debited to his capital account. Now he wants to reverse the interest portion debited to capital a/c by debiting/capitalizing house building. Is this correct treatment,Also is this int considered as cost of acquisition at the time of transfer of Building