The Company is a Electricity Distribution Company (herein after referred to as “EDC”). It provides supply of Power to various categories of consumers.

In the course of the business, the EDC collects contribution from consumers for laying lines and transformers to the premises of the consumer for providing continuous supply of power to the consumers.

The EDC treats the contribution so received as capital and deducts the same from the cost of fixed assets.

The issue is that one Consumer-Company (herein after referred to as “CC”) wants to deduct TDS from the payment made to EDC towards such contribution treating the same as work contract

My question is “Whether the above payments are covered by any TDS provisions and the CC is liable to deduct TDS on such type of payments”. If so under which section it is covered under the Income Tax.

Under our audit it was found there is a public ltd co, in which they in receipt money which is shown as unsecured loan & as against such they have issued shares & such issue shown as share application money. The amount of loan received is lesser than the amount of Shares Alloted, then how to deal with this case. and if there is excess receipt of loan than shares alloted, then in which time limit the amount it should be refunded

Kindly reply soon.

Hi

I received a bill for Rs.100000, including service tax @ 12.36 It is 112360. to which amount I deduct the TDS kindly advise.

Individual investors holding a US Co. US Co holding an India co. The shares of Indian co distributed by US co to its shareholders as dividends. Eventually, Individual investors hold shares in US co and India CO. I would like to know the capital gains implications on above transaction?
Thanks

Gift received in cash and income tax has been paid on that. Whether any consiquence in Income Tax can be there

Dear sir.

I am an accountant, please discribe me about DEPB Licence.
How i can provisoin for DEPB Licence and other rules.

Mr. X has deducted the TDS for the F.Y. 2007-2008 u/s 194c and paid it by one chalan in May-2008.Bill date is ranging from April to March. In such a case whether he required to file all the four qtrly return or only 4th quater return

Dear experts,
Can you please suggest me the books to be referred for CA Final group 1.

Also suggest me the tips on preparation of the same.

Eagerly waiting for the reply

RAHUL

Is there any law whcih prevents Tax audit and financial cnsultancy by one propreitory company??

Sir,

If a company paid Interest to the Dept. for not deducting TDS as per their assessment, the interest and Penality thus paid is allowable as an expense or not?

Please help me in this matter,

regards,

Manikandan.A.V