If we have quoted wrong pan of the vendor in filing TDS return for previous F.Y. then what to do in that case ? Do we have to file revised return for that single vendor for whole last year or is there any other way s there for rectifying that mistake like by giving a letter in writing to vendor.

In the income tax act it is said that if the House for which loan is availed and is used for claiming Income Tax rebate/deduction, if sold within 3 years the Income tax benefit availed will have to be returned. For this period of 3 yrs. what is the date considered?
Is it date of registration at Corporation?
Is it date of possession?
Is it date of final disbursement of Home loan.?

Is the excess of income over the expenditure of a Member's Club subjected to Income Tax? If so is there any exemption limit? Is it mandatory on the part of the Club to file the IT returns in case where tax(TDS) is deducted by the banks on interest payments on Fixed Deposits kept in the Club's name?

As per Section 383A(1) of Companies Act,company having a paid-up share capital of rupees twenty five lakhs or more is required to hv a whole time company secretary.
Does it mean the company should hv CS for full year or evn for part of the year is valid.

UNDER WHICH SECTION OF COMPANIES ACT BLANKET RESOLUTION PASSED IS INVALID?

If an asset is purchased on instalment basis,from which date depreciation should be charged?

when will BG is opened and when will LC is opened.with example

Hello
I want all the rules regarding ding manual accounting and also doing audit and vouching of manual maintained accounts?

dear all

one of our client has paid rs. 2,00,000(2 lac)to the owner of the flat as heavy deposit which is without interest & it is refundable after L&L period, . the agreemnt for leave & license is of 11 months. every month he is paying rs.800(approx)maintenance charges to the owner.

my query is will the tenant will be allowed deduction u/s.80gg of rs.800 pm?

what will be income for the owner ?

I HOPE MY QUERY IS CLEAR

Status : Individual Previous Year Ended: 31.03.2008
Assessment Year : 2008-2009
-------------------------------------------
Gross Salary - 503,551
Less: Exemption U/s 10 56,850 Less: Professional Tax 1,945 Gross Total Income 444,756

Deductions Under Chapter VIA Under Section 80C
Life Insurance Premium 103,018
Provident Fund 16,128

119,146
Restricted to 100,000
-
Total taxable income 344,756
or
344,760
Tax on Income other than STCG 52,428
Education Cess @ 3% 1,573
54,001
Tax Deducted at Source 36,805
Interest U/s.234A -688
Interest U/s.234B -1,376
Interest U/s.234C -636 2,700

Self Assessment Tax 19,896


The interest which i calculated is correct or not. if it is wrong what is the correct interst amount for the assessment year 2008-09