I want to clarify my doubt. According to my knowledge there is no definition of month or part of month in Income tax Act. In my example payment of excess tax is not for A.Y 2008-09 but it could be for any A.Y. Further the same is paid by cash and it is not an advance tax. Thus, as per section 244A, interest is to be given on and from 15-1-08. In public there are various meaning like 30 days=1 month or English month Jan. Feb etc.

But to public in general, month is to be understood as Jan. Feb etc.

With above view whether it would be a correct if we considered Jan as full month otherwise it is part of month (15th). similarlly 15th Aug.is part month would be considered as full month.

Now suppose i have made the payment on 31-1-08 and refund received on 2-3-08.

Please advise whether it would be correct to say int is to be given for 3 months and not for 1 month?

plz cud sb give the full name; price;and publication's name of the SURBHI BANSAL's book for AUDITING AND ASSURANCE(pcc) as sugested by kapil thakore sir to me?

i have registered for articles on 6/09/2007and 1 year has been completled and my attempt will be at nov 2009,but due to some problems i have taken leave for 5 months and now i would like to take termination,whether my attempt will be delayed if that leave period is mentioned in the termination form .please clarify as soon as possible.

For FY 2000-01 (AY 2001-02), the carry forward of unabsorbed depreciation was restricted to 8 years. A Company X has an unabsorbed depreciation of Rs 2 cr for FY 2000-01 which is supposed to lapse in FY 2008-09.

Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?

Thanks, S S Roy

For FY 2000-01 (AY 2001-02), the carry forward of unabsorbed depreciation was restricted to 8 years. A Company X has an unabsorbed depreciation of Rs 2 cr for FY 2000-01 which is supposed to lapse in FY 2008-09.

Now I have received an opinion that such unabosorbed depreciation for FY 2000-01 would not lapse since the law has been changed before this carried forward depreciation has lapsed. Is this opinion okay?

Thanks, S S Roy

Under the provisions of Income tax Act, Interest is either payable or receivable by the assessee. For calculating period part of the month is to be considered as full month. Now suppose I have paid tax on 15-01-08 which is refunded by Dept. on 17-08-08.

In above case, whether is be said that interest is due from Jan. to Aug. (i.e.8 months or it be 7 months (i.e. 15 jan to 14 Feb.= 1 month and so on. In that case 6 months are complete months and for 3 days being part of month is considered as full month)

Plese advise which is correct way to count no. of months ?

Dear Experts

Section 208 makes it obligatory to pay advance tax in every case where the advance tax payable is Rs. 5000 or More.

Whether Above Rs. 5000/- is to be considered while calculating total advance tax for the year or for induvidual installment.

Rohit

Hi,I wanted to know whether there is surcharge applicable for the assessee whose income has not crossed the specified limit?

Hi,I wanted to know whether there is surcharge applicable for the assessee whose income has not crossed the specified limit?

A FIRM REGISTERED IN A DISTRICT OF ORISSA. BUT DOING ALL ITS BUSINESS IN ANOTHER DISTRICT OF ORISSA. NOW CAN IT SUBMIT ITS ITR AT THE PLACE DOING ITS BUSINESS WITHOUT CHANGE ITS PARTNERSHIP DEED ?
THANKING YOU
SAMPAD MOHANTY