It is clear that assessee has to deduct TDS from Car loan interest paid to NBFC. But sometimes, a car loan is in the name of say Director of a company or partner of a firm and all the payments - downpayments, intstallments (EMI) etc paid by company/firm. The Car and Car loan is also appearing in the books of Company/firm. Car is used for the business purpose by Company/ Firm. Only to avoid higher RTO taxes, the car is bought in the name of Director/partner.

My query is whether TDS should be deducted by the Company/firm on interest payments to NBFCs like Kotak Mahindra Prime or Tata Capital etc if the loan itself is not in the company name?

DEAR SIR,

OUR CLIENT HAS COAL BUSINESS AND LAST YEAR HIS ANNUAL TURNOVER IS LESS THAN 60 LACS BUT HIS ACCOUNTS IS AUDITED U/S 44AD FOR LOWER INCOME DECLARATION THAN 8%. NOW I WANT TO CLAR WHETHER HE HAS TO DEDUCT TCS AND DEPOSIT THE SAME IN CASE OF SALE OF COAL.AS BCCL IS DEDUCTIING TCS IN CASE OF SALE OF COAL TO CLIENT. PLEASE CLEAR IT.

THANKS & REGARDS

CA C.P. BURNWAL

Estate account whether claim self occupied property?.

Refer any case law?

Hello sir/mam,

Recently I posted a query fo change of articleship firm. I have completed 11 months of training under the present employer in small firm in parrys,chennai.
Now I want to change to another firm which is also in parrys. I want to know whether there is restriction from ICAI that one cannot shift to another firm in same locality or city otherwise. I want your advice as soon as possible as I don,t want to face any problem in future.

Awaiting your response

Regards

Dear Sir,

I have Service Tax Liability of Rs. 5 Crore at the end of period.

However at present scheme of Rebate is available and I will pay Rs. 2 Crore as per Rebate Scheme. And the said payment will be paid in December 13 and June 14 in installment.

Now, My question is the Said liabilities of Rs. 2 Crore which will be paid after due date of filing of return is disallowed under section 43B or not ?

Please explain in brief that what i should do about Rs. 5 Crore & Rs. 2 Crore.

EXPERTS,

ONE OF OUR CLIENT WHO WAS GOVT. EMPLOYEE, FOR F.Y. 2010-11 HIS 26AS PROVIDES 'P' STATUS MEANS PROVISIONALLY BOOKED.

HE RECEIVED DEMAND FROM DEPARTMENT NOT GIVING TDS CREDIT.

WE FILED 154,IN REPLY NO CHANGE.

I CALLED AT CPC THEY TOLD THAT CREDIT WILL BE AVAILABLE ONLY IF CHANGE IN STATUS FROM 'P' TO 'F' IN 26AS.

WE CONTACTED ACCOUNT OFFICER THEY TOLD US WE HAVE GIVEN YOU 16A.

NOW WHAT IS TOBE DONE...............ANY CLUE...

Sir,
I filled online ITR1 for AY 2012-13, IT dept. send me an intimation us/ 143 saying that there is mismatch in TDS, However when I verified the 26AS it shows no mismatch.

how to apply for rectification?

thanks.
uttam

i have submitted my articleship form without form 112.therafter I received a call from ICAI that I have to submite form 112. Today I submite the form on institute counter. I am not aware about the fact that I have to submitt condonment letter and fine for delay in submission of form 112. Receving person accept the form without taking the dd and letter. Whether I have to submitt again form 112 ?

i have submitted my articleship form without form 112.therafter I received a call from ICAI that I have to submite form 112. Today I submite the form on institute counter. I am not aware about the fact that I have to submitt condonment letter and fine for delay in submission of form 112. Receving person accept the form without taking the dd and letter. Whether I have to submitt again form 112 ?

Dear Experts,

Please let me know how many times a Monthly registered Dealer can revise the Monthly VAT/CST Return as per GVAT Act,2013 particularly related to March,2013 within Specified period. (i.e. 90 Days from the due date of Submission) That is whether a revised VAT/CST return can be again revised or not within prescribed period as per law.