Can the disallowance u/s 40A(3) attract to a trust which is showing its income as income from other source? The trust is running educational institution.

CAN NON-MANUFACTURING COMPANY(UNREGISTERED UNDER EXCISE DEPT)TAKE SET OFF OF SERVICE TAX PAYABLE AGAINST EXCISE DUTY PAID ON INPUTES.PLS REPLY AS SOON AS POSSIBLE.

Kindly explain me the difference between application of depriciation between companies act & income tax act.

I shall be writing my Final exams in may10. i want to finish off tax classes first.but evrybody say not to join now.. y is it so? what are the topics tat wil change? wil i not b able to update it myself later?...

i had short term deposit and got interest for that 191000 and this will part of total income so is there any deduction for this under which section.the interest for savings account are also to be included in other sources head. so any deduction for both interest are available r not.

I am a works Contractor...and my client had deducted TDS on the VAT invoice presented to them for the payment to a tune of Rs.4.40.000/- (They had deducted Rs.9971/- from this 4.4 Lakhs as TDS)

For the Informations of the Experts:

For this Works Contract i had given My client two separate invoices. ie., one for the VAT related invoice (For VAT Calculation)and the another for service related Invoice (For Service Tax Calculation).

Now Please advice me if the client is allowed to deduct TDS on the VAT TAX invoice Payments of Rs.4.40 Lakhs

Please Note: The Status of My client is a Limited Company and mine is a firm.

If i had to collect TDS from the contract labours/Contractors ... Whose single payment is more than 20000 and the cumulative payment in a financial year is more than 50000...then...,what is the percentage of TDS to be collected from the them.

Please advice....me.......

i made an expenditure of 30000 as per details below

20000 on 01/01/09
10000 on 01/01/09

will this will be allowed?
would it make any difference i i had incurred this on 01/01/08

I had started my New Business (Works Contract) in the month of September and as per the advice received from my accountant, i had applied for TAN and the same was issued to me on 25th SEP 2008.

But the problem is that neither me nor my accountant doesn't know for what all the TDS are Collected. We Directly appoint Painters,electricians,false ceiling workers & Vinyl flooring workers on contract basis and not on daily labour. And as on date we had paid around 40 Lakhs rupees only for these contract labours.Till date we had not collected any TDS from anyone. And all these amounts were disbursed by Cash Voucher.

My question is what is TDS...? If i have a TDS Number do i need to File TDS returns even i have not collected even a penny towards TDS (I Mean Should i need to file a Nil return...????) and lastly from whom all i need to collect TDS...

Please help me to resolve this issue...as i am really i need of a good person to suggest me the right business rules...

we all know that the given section was amended in the finance act 2008. Earlier a single payment in cash to a party cannot exceed Rs. 20000 in a day otherwise the same will be dissallowed to the extent of 20%. the act got this sec. amended as - the aggregate of payments made to a single party in a day against any exp. in excess of Rs. 20000 will be dissallowd. Now the problem is- a client of ours argue that this provision is just for a single bill . it means that if he recieves 2 bills from a party both of Rs. 20000 n he makes the payment of both on the same day in cash then it will be allowed n hence the provisions of the section will not be attracted. How could this be if the amendment is so clear.......???? plzz help n confirm that the client is wrong or either i am wrong....