If an assessee has earned a long term capital gain and is not having any house property on the date of sale of original asset from which the assessee earned long term capital gain. But to save long term capital gains the assessee has invested in two separate residential houses on the same date....Will he be eligible for claiming exemption u/s 54F i.e. can the assessee claim benefits of investment in both the house properties or will he be disallowed exemption u/s 54F?????

We are paying courier charges by cash on daily basis and total amount exceeds Rs 50000/= in FY.Should we deduct TDS u/s 194C?because it is not practicable to cut TDS on daily basis.Due to admin reasons the party is not willing to give monthly billing.How to resolve this issue?

Mr. A (a resident individual) is a salaried employee having annual salary around Rs. 6 lac. He stays in a rented house in delhi and pays the landlord Rs. 13000 per month. In his salary component he claims HRA for the same.

The landlord stays in Canada since few year and comes to India for 10-15 days in a year. This makes him a non resident. Mr. A use to pay the rent in bank account of the landlord in Delhi itself.

Query #1 - Whether Mr. A is required to get TAN no. and deduct TDS for payment of rent under section 195 of the IT Act.

Query # 2- Will it make any difference if Mr. A is a labour working with a contracter and having fixed salary of Rs. 2000 per month (Rs. 24000 per annum). Funny but still a question.

Regards,

Ajay Gumbar.

facts of the case:
date of search: 10/10/2008
return u/s 153A is not yet filled for A.Y. 2008-09
due date of return: 30/09/2008
undisclosed income admited u/s 132(4)is Rs. 27500000/-

sir i am confused (1) whether penalty u/s 271(1)(c) will be applicable or not.
(2) whether explanation 5 to section 271(1)(c) will be applicable
(3) whether penalty will be applicable even if the assessee admited the undisclosed income u/s 132(4).
(4)whether there is any way to save my client?

I want to know the applicability of PF. When the company has to deduct PF? What are the rules? Previously our company has 11 employees but we haven't deducted PF on the salaries paid to them since we don't had PF No. at that time but now we got PF No. and started deducting PF and our employees as on today are 25. So plz tell me whether we need to deduct PF from the begining or our liability starts from the day of obtaining PF No.

My client is doing service of printers, of which some printers are servied as Authorised Service Centre & some of which are done otherwise.

My question is whether all the service is taxable or only those services as authorised service centre is taxable

Hello All,
Have you ever heard of any insurance co. in India which is listed on any stock exchange?

If answer is no, can you explain whether it is on account of any legal provision or any other reason?

A particular transaction is subject to TDS on which the TDS has been deducted but mistakenly whole amount is paid to the recepient. If assessee pays the TDS out of his own pocket without recovering the same from the recepient, whether he will be allowed deduction for it? (Kindly give ref. of relevant sec. no as well)

I Gave my both group exam in Nov. 2008. I was expecting very good marks in Accounts as i prepared very well an also attempted all the question. I was expecting ma in 80,s but i was shocked to see ma result and i secured only 34 in dat subject. Should i go for rechecking? Is there a +ve result From C.A Board regarding rechecking.

hi every body i had a doubt in vat that if i had purchased goods from outside the state and sale outside the state but my firm is registered in my native state then which state vat is applicable to me wheather vat is aoolicable or cst pls answer this query, thanks