Hi Everone! Can any1 plz clarify whether NIL TDS returns are to be filed or not?
i.e. if in any quarter if there is no tax deduction, the return needs to be filed or not?

we are thinking of importing machinery on lease from a uk based co. Can we do that ? if yes, What precautions we should take before entering into lease agreement? Whether RBI permission is required ? Whether this will attract service tax as service tax is consumption base levy.

Now in most of the states VAT is applicable.What are the provisions ragarding filing of returns.Whether only VAT returns are sufficient or sales tax returns are also to be submitted.

Section 8(b) of Central sales Tax Act states that (b) in the case of goods other than declared goods, shall be calculated at the rate of ten per cent or at the rate applicable to the sale or purchase of goods inside the appropriate State, whichever is higher

Now appropriate rate of which state,whether selling or buying state would be taken?

Hi all,

I have the following queries:

1. What to do in a situation when the Banker has already deducted TDS on FD (FD amount is Rs.9.5 lacs with 6 years term) interest? Infact, the client/customer is an autonomous body under GOI and is exempted from paying income tax. The Bank, before deduction of TDS did not took any consent and now on persuasion it has requested to submit Form 15AA to avoid deduction of TDS in future course. Is it possible to recover such (TDS) from the Banker because the said autonomous body has nothing to do with the TDS Certificates?

2. Is TDS applicable on interest accruing form Savings Bank A/cs amounting to Rs.20 lacs (approx) in a Year?(SB A/cs were opened as per HO directives and these are specifically for project operations in addition to the existing Current A/cs for normal operations)?

Please reply in detail.

Thanks in advance.

dear all
kindly help me in getting me a payroll software which is developed in PHP as front end MYSQL database as backend
i need a good vendor
i want to get software in above mentioned language if java as front end is there i dont mind
kindly help me in this issue

whenever co declares a bonus issue it is a positive point for market to raise the stock price.

then why that is not true with reliance power IPO?

TDS on contracter will be deducted on what amt & when
case A
01-04-07 5000
01-05-07 2500
20-06-07 2000
21-06-07 20000
23-09-07 5000
26-09-07 9000

full year less than 50000
now whether tds will be deducted on
all or tds will be deducted from 21/6/07 to 26/9/07
b/c rs 20000 limit crossed once

case b
01-04-07 5000
01-05-07 20000
20-06-07 5000
21-06-07 10000
23-09-07 5000
31-03-08 10000

full year more than 50000
now whether tds will be deducted on
all since 50000 amt exceeds on 31/3/08
we have to pay int on tds deducted for above amts

if a person gifts to his spouse RS 70000/- in cash (as sec 56 says "any sum of money" it means in cash)then whether there is any need to execute gift deed on stamp paper.
it can be done on simple paper

Does cash payment of salary above Rs. 20000 covers under sec. 40A(3)?