CASE I : Mr. X received a certain income fom Mr. Y.
The payment was made without deducting TDS.
In the next Assessment year Mr. Y realised the TDS amount from Mr. X, on the ground that by mistake he has not deducted TDS at the time of payment. The tax was deposited by Mr. Y on the recovery of TDS amount from Mr. X on the same date.
How Mr. X will take credit of this TDS amount in the year of deduction?
Also, what will be the treatment in the hands of Mr. Y?
Will the benefit of this can be taken by any of the party?
CASE II : What will be the solution in the above case if the TDS is not recovered from Mr. X but paid by Mr. Y himself?

What is tds applicability (194C or 194I) in respect of payment for hiring or chartering of helicoptor?

Hi I am yet to clear my final exams. For three years i have not appeared for the exams. Would like to appear in Nov'08 exams under old sylabus. Could any one give me the list of best books to follow for Group-2..Thanks.

Hi !
First I want to thanks this website owners for a wonderful resources...Plus lots of friendly helps and replies am getting for solving our accounting problems...Keep it up buddy !
Suggestion: If a notification system is added when a reply is made through email,will be very nice.

Question:-

1) A company has used some of its own stock for its own company use..Like someone dealing in Motor Cycle spares, and used some spares for company Motor Bike !
How should this entry be entered in Tally ?

- Currently, am using STOCK INVENTORY Voucher from the GATEAWAY OF TALLY,deducting the stock plus entering the value...Is that correct ?
Doesnt it effect sales or other things ?

There was a Unfix Purchase of Gold Bar in March of last year, now the creditor produce the invoice in current year 2008-09 for the above unfix purcahse. So what is the Accounting and Tax Treatment.

Can an indian Pvt. limited JV company raise unsecured loan from his promoter foreign company, if yes whats the limit and what is the procedure to obtain unsecured loan.


Regards

Preeti

I get an error while validating the form 24,26 and 27
the error code is - T-FV-4007
and the description is - Invalid Deductee Detail Record number
can pls anyone help me out with this?
and when i use the older version through excel then it gets validated.

Dear Sir,

Few of my friends approached me for formation of Trust to Construct the Temple for Lord.shiva. I suggested them to draft the deed and file the same with Registrar.They did so.Is it enough for establish a legally formed Public trust ?
They are collecting Donation form different part of the country and abroad also for source.In such a case , What is the formaiity for getting registarion u/s 12AA and 80 G exemption for doner.

Dear Sir,

My attempt for Final exam is Nov-09, I have written a letters to Insti. to send the pack of Postal Test for last one year and also I send a mail to Noida regading this, they forwarded the mail to SRO,Chennai.Evenafter no use. Finally I approached the SRO by personally thru my Senior for Postal test paper.Concerned officer replied there was a scarcity for Postal Test paper pack, and also he suggested that get the photocopy of Q. paper from friends and then write. I tried for more than a month finally I got the 2005 series QP of current (old) syllabus. Will insti. accept my answere sheet belongs to the series of year 2005?

Sir,

In the section 80IB(10), 100% tax exemption is available, subject to the fullfillment of some conditions. One of these condition is that the project should be completed within four years from the end of the year in which project get approved.

My querry is that if the project is stayed by the High court for any reason whether the period of 4 years will be extended by period for which the case is pending with court.

Kindly guide me on this querry.

Thanks & Regards