MOST URGENT

A pvt ltd co gives the commission on certain percentage of profit to its directors,(treated as part of salary) the balance sheet signed by directors on 31st july 2008.for the year ended 31.03.08 Rs 1 crore was debited in profit and loss a/c for the year ended 31.03.08

now the query is:
1 Is commission should be paid on or before the filling of income tax return i.e.30.09.08. ?
2 TDS on Commission(as applicable salary rates) should be deposited before 30.09.08 or not.?
3 while these commission income will be included in the directors hand in current year income.under the head salary (on payment basis)

kindly advise asap. since last date is 30.09.08 for filling of IT Return.

SIR, The Equipments (Machineries) will be used in Earth Excavation Contract Work, please specify


please specify the depreciation percentage on Excavators(Procline), JCB, Roller etc.,

Sir,
Thanks for the reply, Can the director bring the funds as unsecured loan?

If a deductee for TDS has no pan no. Is it possible for the deductor to file TDS returns? If not will our expense be disallowed? What is the solution for this?


Regards,
Priya

A residential flat was booked with a builder under “letter of allotment’ in March 2001. There was no other written “Agreement for Sale”. A sum of Rs. 5 lacs was paid at the time of booking the flat. Subsequently, another Rs. 5 lacs were paid in F. Y. 2002 – 03. However, the construction of the building has been stalled. The possession of the flat has not been given till date. Now, the builder has agreed to refund the said Rs. 10 lacs and pay a compensation of Rs. 3 lacs for cancellation of the allotment letter.

Is the compensation (Rs. 3 lacs) taxable as “Income from Other Sources” or the entire amount (Rs. 13 lacs) as “Capital Gains”?

Is there any relevant case law in this matter?

Thanks and Regards, Nikita.

what are the consequences of non creation/modification of charge with ROC within the stipulated in case of Bank Audit. Will the credit facility in excess of charged amount be treated as clean OD, and if yes, can the account be categorised as NPA.

Dear All,
We are a MNC Hydro Power Consultants, We used to get our consultancy payment from Overseas in USD.

Q1. Should we make payments to our consltants (NRI) in india in USD in his NRI account without deducting any TDS on his consultancy bill. (As the services rendered outside India) He has not stayed in India for more than 185 days in a financial Year.

Please suggest.

Thanks

Rahul
09717821107
011-40567603

HELLO EVERYBODY,

I WANT TO KNOW THAT, IF I TAKE TWO OR MORE THAN LOAN FOR ONE HOUSE OF THE OTHER BANK THEN PLESE SOLVE MY PROPLEM MAY I TAKE DEDUCTION FOR EVERY LOAN IN HOUSE PROPERTY U/S 24 (ii)

THEN PLESE SOLVE MY PROBLEMO IN CASE OF SELF OCCUPIED HOUSE.
IN CASE OF VACANT HOUSE.
THEN HOW CAN TREAT IT.
HOW MUCH TAKE DEDUCTION OF THE BOTH CASES.

Dear Sir,
Please provide me works contract gazzete copy or where should i collect the details about the works contract.Its under VAT - Works Contract - in Karnataka State

Is there any difference between Profession Tax and Professional Tax? Please explain in detail.

Can anyone explain what is the role of TDS on VAT? in which cases tds will be deducted from the payment in which vat is charged? Is it in case of works contracts?