If a sineor citizen make a bank FD of INR 20 Lakhs @ 9.1% pa. And he has submited form 15H at the time of FD opening in bank.

As interest income (INR 1,82,000) is below in slab rate, is bank will deduct TDS on it?

What will be Tax implication on it

Dear Sir,
I have paid Rs.50000/- to an Insurance Company on 20th March, 2013 to take out a Life Insurance Policy so that i can claim deduction u/s. 80C in FY-2012-2013. They have provided me a deposit receipt stating therein that the amount is eligible for deduction u/s. 80C & the policy which they provided later on confirms that part too. But the problem is that the effective policy date as per policy documents is 24th April, 2013. I want to know whether i am eligible to take deduction u/s. 80C in FY-2012-13 i.e. in the year in which i have paid the initial deposit or in FY-2013-14 since the policy comes into existence in this Financial Year only?

Mr. Madhur submits the following information for previous year 2012-13 relevant to the assessment year
2013-14:

1. Profit from Business A situated in Delhi 2,50,000
2. Profit from Business B situated in Bombay 80,000
3. Loss from Business C carried in New York (the business is controlled from India
but profits are not received in India) 40,000
4. Unabsorbed depreciation of business C 35,000
5. Income from house property situated in India 15,000
6. Income from house property situated in London (rent received in London) 20,000

Find out the Gross Total Income of Madhur for the Assessment Year 2013-14.

I would like to confirm the accounting period on which the supplementary deed is executed on 22.02.2013 as per the below clause Incorporated in registered firm?
The Partners shall be entitled to modify the above terms relating to remuneration, interest etc, payable to the partners by executing a supplementary deed and any such deed when executed shall have effect, unless otherwise provided from the first day of the accounting period in which such supplementary deed is executed ad the sane shall form part of this deed of partnership.

Sir/Madam,
I am going to join as paid assistant in a CA firm. I am also going to apply for COP. May I know that can I do attestation work(separate practice) in individual name if I join as paid assistant.

Second shall I become FCA, after five years, if I work as paid assistant with COP.

Please reply ASAP.

Hi, Every body this is ram , Iam working as accounts Manager in one of the manufacturing companies, we are importing Bus Chassis from China And getting Homologation from china itself, are we pay Service Tax for the Homologation Services.

WHETHER TWO PRACTICING COMPANY SECRETARY CAN FORM AN LLP.

IF YES, THEN
CAN A PARTNER SIGN THE COMPLIANCE CERTIFICATES OR ANY OTHER DOCUMENTS ON BEHALF OF THE LLP.

Does services tax teated as vat..??
means if someone charge service tax on us (Input) as we are registered under service tax and we are also charged service tax on our customers, so the input credit is adjustable with output service tax...???

Please Explain..!!

please help me... i have not started yet, but m doing clases of Grp I of Acc., Tax, and FM. but have not started studying. now i am confused and feeling depressed that is it posible to complete course of Grp I or i should strt clases of Acc Grp II and move on to Grp II Acc.
Audit n ITSM can do it by myself and start preparing.. because in Grp I there are 4 sbjcts and are practical heavy sbjcts it will take lot of time to cmplete n Tax is vry comprehnsive and vast.. soo wat shud i do plzzz help me not filled d xam form yet...

Dear Sir,
There is an assessee who is a sim card retailer and thereon he has received commission of Rs. 200000/- in FY 2012-13 and tds deducted is Rs. 20000/-.

After meeting business expences his net profit would be about 85000/-.

Whether he is liable to maintain a/c as he is out of Section 44AD due to commission income

or

He is not liable to maintain a/c from the purview of Sec. 40AA, as his gross recipts are below 10 lacs and net profit is below 1.20 lacs.

Please clarify.