Sir.... we are engaging lorry/trailer for shifting of materials from work shop to project sites. my question is..
1. who is liable to pay service tax
2. rate of service tax.
3. If st paid by us. can we eligible for availing cenvat credit on payment of our liability.
Please clarify

SIR
MY HOUSING LOAN INTEREST AMOUNT FOR F.Y. 2016-17 IS RS. 300000/- AND PRINCIPAL AMOUNT IS RS. 60000/- CAN I USE EXCESS INTEREST AMOUNT 300000-200000=100000 IN 80C.
IT IS AS PER IT RULE THAT WE CAN USE HOME LOAN INTEREST AMOUNT IN SECTION 80C

Respected Sir/Ma'am,

During the current financial year, one of transporter had given declaration that he own less than 10 trucks as on 1st April, 2016 but now in February, 2016 transporter revised their declaration and now declared that he own 12 trucks now.

the query is whether i am liable to deduct TDS on entire payment made to transporter during the current year or not required to deduct any TDS considering the provision of section

No deduction shall be made from any sum credited or paid or likely to be credited or paid during the previous year to the account of a contractor during the course of business of plying, hiring or leasing goods carriages, 6[where such contractor owns ten or less goods carriages at any time during the previous year and furnishes a declaration to that effect along with] his Permanent Account Number, to the person paying or crediting such sum.

please clarify

Dear experts ,

Suppose a trust / NGO is there the same is registered under section 12A / 12AA.
out of total receipts of Rs. 100 for a FY say FY 2014-15 it sets apart 15 % and out of remaining surplus of Rs. 100-150= 850 it further sets apart say Rs 300 for an earmarked purpose , say construction of a building. It also places a Fixed deposit in the bank for Rs 300.

The same will be reported in the Income tax return in form 10B. The trust / Ngo is required to spend this amount in five years as per law.

During these five years the bank allows the interest on these Fixed deposit also.

The accounting treatment of this interest in the books of accounts is that , it will be added to Fixed deposit itself and FD value will be increased.

My doubts/ questions are :-

01. Will this interest be added in the form 10B / Income tax return as further set apart for building fund , if yes why ? if no why ?

Dear sir,
I have some income derived from the cultivation of cardamom crops. Is the income derived from such activities taxable as it is a plantation crop? Can you please clarify weather the income is considered as agriculture income and is exempt under section 10(1) or is taxable?

What is the difference between Sec.194a(3)(ix) and Sec.194a(3)(ixa) of Income Tax Act.

I was awarded under the Motor Vehicles Act, a compensation of Rs.13,50,000/- in the year 2011, along with interest at 6% pa calculated from date of filing the petition till the date of deposit, by Motor Accident Claims Tribunal. Insurance Company appealed against the award but was confirmed by High Court. Finally, Insurance Company deposited the sum of Rs.Rs.13,50,000/- in Nov., 2016, along with interest of Rs.3,50,000/- after deducting tax of about Rs.1,60,000/-.

Is TDS by Insurance Company justifiable.

Sec.194a(3)(ix) states that Sec.194A (1) shall not be applicablen
(1) to such income credited by way of interest on the compensation amount awarded by the Motor Accidents Claims Tribunal;
(2) to such income paid by way of interest on the compensation amount awarded by the Motor Accidents Claims Tribunal where the amount
of such income or, as the case may be, the aggregate of the amounts of such income paid during the financial year does not exceed fifty
thousand rupees;

How to harmoniously intrepret Sec.194a(3)(ix) states that Sec.194A (1).

Please clarify.

Read more at: https://www.caclubindia.com/experts/ask_query.asp

Dear Experts,

Can company deny to accept resignation of director stating reason that director has not cleared financial liabilities with company?

Is There any Difference in the Directors Report for the Company having Consolidated financials statements than for the Company having regular Financial Statements..

I sold my agriculture land for rs.1000000 and deposited in my account and did not file any returns and used such amount for my personal use in fy 14-15 . now I got a letter from IT Department to disclose the source. I want need to do now. and amount of tax to be paid.

There are four Categories of Deductions,
1. 100% Deduction of amount donated, without any Qualifying Limit
2. 50% Deduction of amount donated, without any Qualifying Limit

3. 100% Deduction of amount donated, Subject to Qualifying Limit
4. 100% Deduction of amount donated, Subject to Qualifying Limit


My Query is How I will Understand whether Deduction is 100% or 50%

Please help me