TDS rates when the deductee is Firm or Company:

TDS provisions tell that the rate of TDS inclusive of surcharge shall be applicable when the payment or credit exceeds Rs. 1.00 Crore during the F.Y.?

Now whether the payment or credit as said above shall be the payment or credit from the payer(we are) only or the total(global) receipt of the deductee...

Which shall be considered for Tds purpose?

Thanks & Regards
CA Rohit

Dear All,
One of my client shifted the Registered Office from Hyderabad to Vijayawada

The company would like to shift the jurisdiction of the I.T. Department from Hyderabad to Vijayawada

pls. advice the procedure for changing the jurisdiction

if we bought tally software for 38000, can i account it as asset in books of accounts or as expenditure . pls forward ur advice to uvbr@rediffmail.com

we are a newly manufacture co , can we pay excise duty in any bank or for this we need to have account for this in that particular bank. pls clarify and sent ur advice to uvbr@rediffmail.com.

Dear all,
We have incorporated a Private limited Company. Whether it is necessary to file eform-2 for alotment of equity shares to the Subscribers of MoA and AoA after incorporation. if yes is there any time limite for filling the same.

Please do needful

Suppose we have given a contract to A and the contract is hypothicated by B,now A raised the bill to us which is subject to deduct TDS and the total amount is financed by B.How we will treat the TDS amount, if we deduct TDS from A then there will be a balance remains as the whole amount is already financed by B.Plz help.

Assessee has sold plot in FY 2007-2008
He has started construction of House
in FY 2005-2006 & completed the same in FY 2007-2008 ( after date of sale of Plot )
Can Gain arising out of the above Sale proceeds can be exempted U/s 54F.
Capital Gain Rs. 10 lacs
Cost of Construction in -
FY 2005 - 2006 Rs.5 lacs
FY 2006 - 2007 Rs.3 lacs
FY 2007 - 2008 Rs.1 lac

WHAT IS THE TIME LIMIT FOR FILING/INTIMATING INWARD REMITTANCE TO RBI AFTER RECEIPT.

we bought tally accounting software for 38000 , here my question is , in which head i need to account , is it under asset or as expenditure .further if we paid input tax on the asset , i need to consider input tax is part of asset. pls forward your reply to uvbr@rediffmail.com

Dear Experts

As per section 194C, any payments made to C & F Agent is subject to TDS.

However payments to the C&F Agent include following;
1. Reimbursement in respect of various custom formalities etc. inclg freight (Say Rs. 10,00,000/-)
2. his C&F charges (Say. Rs. 75000/-)
3. Total is Rs. 10,75,000

Case 1 - Now suppose he has raised single invoice for both 1 & 2 above, then on which amount TDS is required to be made?

Case 2 - Whether it will make any difference if C&F agent raises debit note for above 1 & his invoice for above 2.?

As per my opinion

Case 1- TDS is required to be made on whole i.e. on Rs. 10,75,000/-
Case 2 – TDs is required to be made only on Rs. 75000/-

Please give your expert opinion…

CA Rohit