we paid the rent for ware house to the party .
Party billed us as logistics services.
My query is under which section I deduct the tds from this payment.
iS THIS SERVICE COMES UNDER SEC.194J

wether excise paid on purchase of Block item is available as credit for manufacturing unit

gain on sale of residential flat .Tell me whther i can invest it in one house or two house .

May i please know about section 74 along with its exceptions of Indian Contract Act 1872

what would be the impact if the TDs is not deducted on the transactions which is capital in nature ie, Building Construction contract, Erection of new machinery etc...and please mention if there is any circular with reference to the above issue...

1. can a father and his son make a partnership firm.


2. a Huf(karta,his wife and his son)make a business in equal ratio .is the business is a proprietoriship of above huf or a partnership firm because there are some partners.

Dear Sir/Madam,
A person has recieved Rs. 3.00 lakhs from general insurance co. as third party insurance claim because his son had met with accident few years ago. Whether this amount is taxable and whether any deduction is available.

Is any entry required in books for MAT credit or we have to just show in computation

If any entry required what entry

If i transfer my all equity shares to portfolio wherein such shares are traded by Portfolio Managers.
I don't have any other business income. what shall be the nature of profit/loss which i have earned through portfolio?(either capital gain /loss or business income/loss).
please reply me with reasons.

Hello Experts

First of all thanks for showing your interest in sharing your knowledger.

Guide me about section under which i am responsible to deduct tat at source whether 194C(contract) or 194i(rent);
1. I have taken Material Handling machine (Forklift truck) on hire, rent is fixed for a month. I have to fill diesel and to incur all other operating expense and the machnine remains with me only.

2. I am using the same machine but i have to just pay a sum fixed for a month(use for 8 hr a day) & extra cost per hr for overtime if any. i dont have any possession of the machine and i dont have to incur any other operating exp. or even diesel exp.

As per my openion tds provision will be applicable as follows;
1. U/s. 194I as the Machine is hired and possession remains with me only.
2. U/s. 194C as i have given contract for working at my site and i am having no control over possession of the same or not to incur any operating exp.

One of the knowledgeble person disagree with my opinion in respect of point no. 2. In my case the works is going on permanently now tell me what will be the situation if the work is done for few days only (all other situation are same).

Even in ICAI Journal for Aug. 08 (Pg no. 293) in definition of RENT it is said then possession of the asset is pre condition for rent transaction.

Please give your valuable opinion on above cases.

Thanks
Rohit