is tds applicable for contractor in this case ?

for eg.
on date 08.01.2013 party raised three difference invoice on same day of three different shipment of rs.
1) 25000
2) 25000
3) 24000
is tds applicable ?

beacause the threshold limit is 30,000 ( single transaction ) 75000/- ( aggregate during the year )


expert pls reply

How do you become a cfo.

Friends
I have registered for industrial training and have filled required forms.

Now i have not yet received letter from institute.What should i do now.Its almost 2 months.whn i called in institute they said that it is still in process.I m worried.What should i do.Should i visit institute once.

My friend earned salary of Rs.269000/-
in fy 2012-13. He made a 5 yrs' Tax Saving FD of Rs.65000/- (Maturity amt.Rs.101000/- appx. maturity in Dec.2017).

Around Rs.35000/- is interest which will be earned on 5 yr. FD.

1. Whether bank will deduct TDS on interest at the time of maturity .
2. Whether giving 15G Form to bank in 2017 will help in avoiding TDS deduction.
3. If bank deducted any TDS in 2017 can i claim refund of same .

HELLO.

WE HAVE FILE MY RETURN, FOR AY 2009 -10 WITHOUT CLAIMING TDS BECAUSE THE DEDUCTOR HAD NOT PROVIDED THAT CERTIFICATE AND IT WAS ALSO NOT IN 26 AS SO WE DOES NOT AUTHORISE TO CLAIM IT BUT NOW, HE HAS GIVEN TDS CERTIFICATE AND ALSO BE SOWN IN 26AS , BUT HOW TO TAKE REFUND THAT TDS?

BECAUSE WE CAN NOT REVISE THAT RETURN AFTER THE SPECIFIED TIME LIMIT

please Send me mail or give reply for that,


cajaysukhkanani@yahoo.in
9277508750
9173520427

Whether tax is required to be deducted on purchase of catelogue alongwith it's designing? If yes, under which section? And on what amount?

OURS IS A PARTNERSHIP FIRM WHICH WAS NEWLY STARTED IN OCTOBER 2012.
IN NOVEMBER 2012 WE PURCHASED FURNITURE FOR OUR OFFICE IN THE NAME OF THE FIRM AMOUNTING TO Rs. 180000/-.
THE ENTIRE AMOUNT OF Rs. 180000/- WAS PAID IN CASH ON A SINGLE DAY.ACCORDINGLY THE SUPPLIER ALSO RAISED A SINGLE BILL FOR Rs. 180000/-.
THIS WAD DONE BY THE PARTNERS WITHOUT LACK OF KNOWLEDGE OF INCOME TAX PROVISIONS.

AS AN ACCOUNTANT NOW I FIND IT DIFFICULT TO RECORD THE ABOVE TRANSACTION IN BOOKS OF ACCOUNT AS I THINK THE ENTIRE AMOUNT MAY BE DISALLOWED AS PER SECTION 40 A
(3).

MY QUERY IS :
1. HOW TO AVOID DISALLOWANCE IF APPLICABLE?

2. FURNITURE BEING AN ASSET,IS SECTION 40 A (3) APPLICABLE OR NOT?

3. CAN I PASS JOURNAL ENTRY IN THE BOOKS OF ACCOUNT FOR Rs. 180000/- AS FOLLOWS:

ASSET A/C ..... DEBITED
TO SUPPLIER A/C
(Being Liability for furniture purchased)

WHEN PAYMENT IS MADE SUPPLIERS A/C WILL BE DEBITED FOR Rs. 180000/-.
IF I FOLLOW THE ABOVE PROCEDURE WILL SEC 40 A(3) BE STILL ATTRACTED?

4. ANOTHER ALTERNATIVE IF I TREAT THE ENTIRE PAYMENT OF Rs. 180000/- AS ADVANCE and LATER ON I PASS JOURNAL VOUCHER BY DEBITING TO ASSET A/C AND CREDITING TO ADVANCE A/C.
IS THIS ALTERNATIVE CORRECT?

5. OR STRAIGHT AWAY CAN I RAISE VOUCHER FOR Rs. 180000/- enclosing the bill of Rs. 180000/-.

6. OR SHOULD I COLLECT BILLS BELOW 20000/- ON DIFFERENT DATES FOR THE ENTIRE AMOUNT OF 180000/- i.e., splitting the amount.

KINDLY ADVISE ME THE CORRECT PROCEDURE AND SUGGEST ME THE CORRECT WAY OF ACCOUNTING THE ABOVE EXPENDITURE WITH THE HELP OF ENTRY SO AS TO AVOID DISALLOWANCE OF EXPENDITURE IF SECTION 40 A(3) APPLIES.

SIMILARLY WE HAVE PURCHASED 04 AIR CONDITIONERS FOR OUR OFFICE FOR Rs. 120000/- and the entire amount was PAID IN CASH in a single day AND A SINGLE BILL FOR Rs. 120000/- WAS RASIED by the supplier.
THIS WAS ALSO DONE BY THE PARTNERS.

KINDLY SUGGE3ST ME .

Whether a company is liable to deposit service tax under reverse charge If it pay salary to his directors.

A bank loan of rs50000 against debtor under negotiation?

What is capital redemption reserve?