We are working with transport company and they have given us Five bills by June 2009 amounting Rs, 45000 /- .each bill is below 20000 /- but now at the end of june whwn we have recevied sixth bill the total exceed 50000 /-. Now TDS is applicale on it.
So i want ti ask that late interest will also be applicalbe on it or not becuase one bill was of April, May and three are of June.
Please reply me soon
Thanks in advance.
MY CLIENT'S SON WAS WORKING IN U.S.HOWEVER THEY WERE FILING HIS RETURN IN INDIA ALONG WITH THEIR RETURN WITH THE STATUS OF RESIDENT.NOW HE RETURNED BACK TO INDIA PERMANENTLY.HE EARNED AROUND RS.30 LACS IN U.S.NOW MY QUERY IS THAT CAN I DIRECTLY TAKE THIS 30 LACS INTO HIS CAPITAL ACCOUNT AS HE HAS ALREADY PAID TAXES IN U.S.MY CLIENT WAS SHOWING INTEREST INCOME IN HIS RETURNS.
Hi,
An Individual Professional was got more than 10 lakhs in the Financial year 2007-08 and he had covered U/s. 44AB so he had filed the Income Tax Returns with 44AB audit report and for the next year i.e., 2008-09 is his income is not more than 10 lakhs so whether he need to file the normal returns or need to file 44AB reports?
Please clarify the same
Regards
Nagaraju
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Dear Sir
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