i want to know exactly that can public provident fund account balance be attached with the income tax department recovery ?
hope 2 c the reply soon

Please tell me exactly which sections to be refered for calculating Income tax for an individual and a company primarily.

Dear Sir,

What is the % of disallowance on office equipement & furniture . I think It is 4% & remaining is allowable for Set off.
is it right?

A contractor has made a payment to sub-contractor without deducting tds on payment. Whether he claimed a expenditure or not.

Sales tax payable is liability so why this include in Sec 43B, if it is a liability then there is no question of allow or disallow

Dear Sir,

whether TDS is to be deducted in case of Printing charges ( for 5,000 copies Annual Reports) on bill Amt of Rs.79,248/- ( incl. of VAT 4 %) is applicable?

Pl. resolve the my query asap.


Thanks & Regards,
Chidananda K R

Our company has just got registered as a 100% EOU unit for our Web Services and as a result we would be exempt from income tax. However, I hear of MAT being applicable to all companies now irrespective of being EOU certified, is that true? Also, suppose the net profit for the year is expected to be Rs.2 crore, how much would the MAT work out to and do I have to pay advance tax on this amount. Is there any different way to filing MAT as there is to Income Tax?

Is TDS applicable for payments to Air Ticket Booking Agencies?
Ifyes, TDS to be deducted as per sec194C?

Dear Experts, (our registered office in Delhi)

We have Traders in Flooring Tiles and also provide the Interiors & Decorators Service in the Delhi & outside Delhi. We have received the various input service from Delhi & outside Delhi like clearing & forwaring shipping agents, chartered accountant, telephone, courier service, Transporter (GTA) etc. and paid the service tax thereon. Please give me, advise regarding the credit taken on input service to output service (interiors & decorators)

" U/s 194C No TDS is to be deducted where the Single payment or credit does not exceed Rs. 20000/- ans collectived the whole contract amount does not exceed Rs. 50000/- during he whole year. "

A party has taken embroidery job bills during the year with amount below Rs. 20000/- in each bill in the month of January 2008 and total of all the bills during the year does not exceeds Rs. 50000/-. Hence No TDS is deducted. but the party has made single payment of Rs. 47804/- in the month of February 2008 to embroidery job creditor.

Will this be a case of non compliance of TDS Provision.