An assessee was using a property on rent from a builder of Rs. 100 p.m. The builder paid Rs. 750000/- to assessee as compensation to vacate the property..
Will it be taxable and under which head...

Dear All,

Please let me know , whether TDS is to be deducted on Gross amount of bill or excluding service tax?

Dear Members...

I want to know the benefit of create a Pvt.ltd.co. against properitorship or partnership business.

An assessee was using a property on rent from a builder for Rs. 100 p.m. The builder has now paid Rs. 750000/- to assessee as compensation to vacate the property..
Will it be taxable and under which head...

Sir,

pls tell how should i calculate service tax amount to be deposited.

Suppose I my output service tax is Rs. 5000/- and input service tax is Rs. 1000
then should I deposit rs. 4000 or there is other way of calculation.

hello everyone
My query is regarding clubbing provisions under wealth tax act.
my question is:-
Suppose a husband transfers gold to his wife without adequate consideration and his wife pledges gold and purchases motor car from such loan.It is clear that gold will be clubbed with the assets of husband and motor car will be included in the assets of wife.But what about deduction of this loan?
As per my understanding i think this loan will also be considered as debt for husband but it cannot be deducted from his wealth as debt is taken for purchasing motor car which is not included in the net wealth of husband.(as per wordings of section 2(m) that debts to be deducted for debts incurred in relation to the assets included in net weath).
please suggest me treatment of the debt in this case)

Dear All,

My query is that the TDS is applicable on the amount of the software purchase?

According to my rererence, payment of the software purchase is covered U/s 9(1) royalty payment and royalty is covered under the Section 194-J, so i feel that, TDS is applicable on the amount of the computer software, but i need your expert comment on this issue.

Bhavin Shah

ihave received a notice from IT office that your name is in heat list of IT dept. and as per recent directive from finance ministry he has ordered me to subit cash balance,purchase,sale and closing stock up to 31.3.2009 withan 7 days[withan 7.4.2009]
but notice has no seal.please advice me
officer has written reason that we are manupalting profit.with thanks

ihave received a notice from IT office that your name is in heat list of IT dept. and as per recent directive from finance ministry he has ordered me to subit cash balance,purchase,sale and closing stock up to 31.3.2009 withan 7 days[withan 7.4.2009]
but notice has no seal.please advice me
officer has written reason that we are manupalting profit.with thanks

Company paid car hire charges to party( for e.g. Mr.X) & deduct TDS @ 2.266%.

company paid advance imprest to its employee & pass the entry :
Advance imprest Dr.
to Cash A/c

& when employee submit the details of Advance imprest then he also submit a bill of Mr. X (for car hire charges), in which he had not deduct TDS.


now will company liable for non deduction of TDS ?