I have Prop. Firm Its turn over is exceed of rs. 40 lakh i am liable for tds deduction ? and its payment made by e-payment its compulsory for me.

Dear Sir


My question is

Can a Company assesee make an application for Non Deduction or Lower Deduction under section 197A

if yes, please provide us procedure for the same on following email address

a_mpatil@yaoo.co.in

thanking you

I know that rural agricultural land is not a capital asset, hence, not chargeable to capital gains tax. My query is regarding the utilisation of the payment recd on compulsorily acquisition of the land by the Govt. How that amt can be utilised and in what periods of tme. Please answer as it is very urgent.....

Copmany is filling a late return of p.y 2007-2008 now and it has made profit in the particular yr and company has c/f losses of the previous yr , can that company set off losses against 07-08 p.y profit.

as per sec 80 it says if the company has loss in the yr and return is filled late then u can not c/f and set off such losses

pl guide

How can Individual file return online? please let me know the procedure or also let me know for F.Y, 2008-09 can we file return as per old method

Regards,

Ashok

Dear All,

Can anybody tell me that whether TDS should be deducted inclusive or exclusive of service tax charged by the party u/s 194j and 194i.

warm regards,
Sunil

Hi,

As per last circular issued by income Tax department, payment of tds/tcs of april & May 09 will be as usual in old form i.e 281, but tds of june 09 is supposed to be in new form 17 and the same will be effctive from 1st july 09. There were lot of NSDL's role also prescribed. We had no received any communication as such from NSDL yet. When we asked about it the NSDL office expressed they had no news too.Do you have any news?

Hi everybody
While filling IT return, on the "ACKNOWLEDGEMENT SHEET", there is coloumn asking to fill "Status (fill the code)", what is it?
And what code is to be filled in it.

Dear all,
This is an issue about which many people give different opinions whenever i ask.
There are 3 views i have come across regarding the latest amended 40A(3).
If an asset (say plant and machinery) is purchased for Rs. 50,000 in cash,
a) the same shall be added to the computation of income from B&P, since it involves the payment of cash above Rs. 20,000 on the same day to the same party.
b) the depreciation on such depreciable asset is disallowed
c) there is no disallowance since it is the purchase of a fixed asset and is hence covered by exemption Under rule 6DD.


Please is there a consensus on this issue in any case laws/rulings?

Whereas many people (including CAs) say outright that (c) is the correct stance, I have come across the view that disallowance under 40A(3) applies to depreciable assets [Direct Taxes Reckoner by Dr. Vinod K Singhania for Assessment years 2008-09 and 2009-10, Page A-110, Para 49.3.3.5, (Taxmann publications, May 2008)]

I AM WORKING IN INSURANCE BROKING COMPANY

PLS TELL ME ABOUT SERVICE TAX INPUT CREDIT. CAN WE TAKE 100% CREDIT ON SERVICE TAX. WHAT IS THE INTEREST IF NOT PAID ON TIME. WHAT THE SERVICE TAX LIABLITIES ARISES, I MEAN WHEN WE RECEIVE THE SERVICE TAX OR FOR THE PERIOD IN WHICH THE SERVICE PERTAINS.