Hi,

I have missed to deduct tds on a payment with high value for a service. Now the FY also has ended. Can i remit the tds now by receiving the amount from the party.

If so, kindly suggest on the E-TDS procedure etc... (i.e which quarter should i file this payment, date to be mentioned etc...)

Kindly clarify.

Regards
Samrat.

Hi,

We do deduct tds on our payees. But we don't deduct for any payables right now. Is this ok or else whether the tds to be remitted for payable amounts also. Kindly reply.

Payment Type: Rent.

Regards
Samrat

Please inform the process of surrendering of a PAN.

If someone purchase a residential flat at Mumbai for Rs. 14 Lacs in F.Y 2004-05 & wish to sale in F.Y 2009-10 for Rs. 38 Lacs . When flat purcased it was financed by the Bank & still 11 Lacs due to Bank.
Further , this flat showing in two individual file on 50% each basis.
There is also planning to purchase new residential flat in Mumbai.
Sir, now let me know what will be capital gain for both files after considering the Cost Inflation & residential flat status.
I shall be obliged if you elbrote a computation.

A,B and C are brothers and they have purchased some properties in 1966 and lateron there was a partition between them in 1982 and specific properties came in the name of A . A died in 2006 and the specified property related to A has transfered in A's Son and son has sold 3 floors and residing with his family at ground floor during 2009 - 10 . What are the tax implications under capital gain tax and what can be best planning to reduce the burden of tax ?

An assessee sells sugar on the Commodity Exchange and the transaction is finally settled by delivery.The assessee get the sale consideration less the brokerage/commission charged by the Broker registered with the Exchange. Is the assessee liable to deduct tax at source? If so how would the assessee deduct when he receives the money net of the brokerage and has no occasion to deduct?

IS SERVICE TAX IS APPLICABLE ON COMMISSION ON SALES WHERE NO BILLS ARE RAISED?????

Sir,

Our supplier raises invoice and charges frieght on the same invoice.
should we duduct TDS or not. if yes on what amount.
Please answer it keeping in view circular No. 13/2006 related to contract of Sale if applicable here

Thanks in advance.

I made a sale of $10,000/- on 25th march 2009 where the rate was Rs.49
therefore entry passed
debtors a/c db 4,90,000
to sales a/c 4,90,000

now i have not received the money as on 31.03.2009 therefore i restate the debtors to the rate as on 31.03.2009 where the rate was Rs.45
foreign exchange loss a/c db 40,000
to debtors a/c 40,000
IS THE FOREIGN EXCHANGE LOSS OF Rs.40,000 ALLOWABLE UNDER INCOME TAX ACT

support ur answer by necessary notification/circulars/judgement etc.

If by mistake wrong TAN is mentioned in TDS challan No. 281, and the same is paid in Bank manually (NOT E-payment), whether it is possible to rectify the mistake in the said payment. If No, what is the remedy ?? Please guide.