TDS on professional fees deducted but not paid to govt.
But now paying to govt alongwith interest is their any other penalty?
Also filing the revised return of TDS
Please give the detail consequences.

Dear friends,

Please clarify the below issue,

Our company want to give interest free loan to one of our staff, say the amount 25 Lak. and the repayment terms may be with in 3 year through monthly instalments.

What is the tax implication for company and to the staff.

please clear the issue

Dear Sir,
the company received material in the financial year 2007-08, but has not taken cenvat credit at that stage because the invoice was missing. In the year 2008-09 when invoice is found can the company take cenvat credit in f.y. 2008-09 on the basis of invoice raise on 09.04.2007. please guide .

If we got a bil for professioan service for the year 2007-08 in August, 2008 for 1 lac.Should provision made in the Balance Sheet of March, 2008? If we do so TDS have to deducted and we have already filed the TDs return.
Can i just make a provision in last year and deduct TDS in cuurrent year or provision can be made in current date?

Please guide in detail.

We have paid 1000$ to our employee for his foreign trip by purchasing with exchange rate of Rs.42/-. After his trip, he has submitted TA bill and returned $200 to us and we submitted the same to bank @Rs.40.What we have to do with this Rs.2 X 200=Rs.400 foriegn exchange loss.

While deter ming net working capital Debtors are e valued at sale price or cost?

Ans.debtors are generally stated at selling price while calculating working capital
but they are taken at "total cost" while calculating "cash working capital" because "our" investment is the cost and profit embedded in debtors is not our investment.

i trad in shares in previous accounting year 2007-08, my purchase amount around 34,00,000 and sales value around 39,33,000 rs. i recive STT paid certificate on rs. around 67,00,000 value of transction. can i liable for audit ? can i show it as a bussiness income or short term capital gain ? for income tax return which form ITR-1,2,3,4, ?.

What is the definition of arms length transaction? Is physical transfer of money a must in an arms length transaction?

While deter ming net working capital Debtors are e valued at sale price or cost?

For calculating limit of 20,000/- for applicability of TDS, bill amount inclusive of service tax is to be considered ?

Service Tax Should Not be taken Since that is not the income of the person if that is included tds will have to be deducted on total amount which will lead non-followance of chapter XVII-B