Hi Experts

Suppose i have transacted with one party for Rs. 2000/- then 5000/- then 29000/- on which i am liable to make TDS u/s. 194C..

Now TDS will be made on which amount whether on 29000/- only as total does not excess 50000/- during the year or on all as one bill is more than Rs. 20000/-

Further the section tells that "payment or Credit during the year"

suppose one party has opening balance of Rs. 60000/- which is paid in this year and also transacted for Rs. 15000/- during the year.. Now TDS u/s. 194C is required to be made on 15000/- or not? as the payment during the year exceeds Rs. 50000/-

Thanks
Rohit

Hi,

Can anyone let me know whether Stamp Duty paid for increasing authorised share capital is to be disallowed for Income Tax computation as the same will be considered as Capital Expenditure debited to P&L?

Advance Tax Payment made through on line payment at the time payment wrongly selected assessement tax iinstead of advance tax how to rectify this please clarify

Our gross billing for the year 2008-09 will be in rangeof 7 lacs to 15 lacs but can not say exact in this moment. Last year billing was Rs. 4 Lacs.

Now Can we take the input credit on service tax for adjustment of service tax payable even if let assume gross billing will less than rs. 10 Lacs for this year?

In other words...

If my billing is less then Rs. 10 Lacs then if i collect the service Tax then can i take the input ctredit for adjustment of Payment of service tax?

THE VALUE OF SOME OF THE INVESTMENTS(EQUITY SHARES) HELD BY OUR COMPANY HAVE BECOME ZERO. WE HAVE NOT PROVIDED FOR ANY DIMUNITION IN THEIR VALUE IN THE PAST.

CAN THESE BE WRITTEN OFF NOW? WHETHER THESE WRITE OFFS CAN BE ADJUSTED FROM OUR GENERAL RESERVES ?

can HUF of a person who is a chartered accountant by profession in practice do business other than profession of CA. Can he be a sleeeping partner or an working partner in for example a trading in steel, cement business etc in the representative capacity as Karta of HUF

Can FBT be adgusted against Tax refund

TNG , a Consultancy Company , has to pay FBT of Rs.10 lkhs for 2008-09 Fin Yr. and it has not paid any amount till date and all the amount is due. TNG’s IT liability is Rs.30 lkhs and has TDS certificates worth Rs.100 lkhs .

As TNG is having funds crunch , can it make part payment of say Rs.2 lkhs now and pay the balance Rs.8 lkhs along with interest, by way of adjustment against refund due of Rs.70 lkhs, at the time of assessement.

(a) Will the assessement officer accept the FBT due along with interest up to the date of payment . Does he have the power to levy penalty.

(b) Will the return be accepted without payment of FBT.

Can some one pl advice.

In the previous year if the company has apportioned the expenses as Pre-Operative. As the company shut downs it operations how do we treat pre-operative expenses now pls let me know.

Hi friends,

I would like to know A proprietary concern undertakes job work of cutting fabrics using laser cutting machines. It is purely a labor work. The material for cutting is supplied by the person giving for job work.

My query is Whether service tax will be applicable in this case.