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.

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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

hi all, I don't have certificate of completion of article training.I'm filling my xam form for may17.from where I can download that form as I'm unable to see that option.??

We have formed a society under society act 1860.IT is created for religious purpose

while applying pan card, please let us know which category to be filled. i am confused with the following

1) AOP
2) Trust
3) Local Authority

Please help

SIR I WOULD LIKE TO KNOW WHETHER TDS IS DEDUCTIBLE ON FAMILY PENSION BECAUSE THE ASSESSEE IS RECEIVING CENTRAL GOVT FAMILY PENSION AND FOR THE MONTH OF MARCH 2017 TDS IS DEDUCTED ON THE FAMILY PENSION AMOUNT.BEFORE THIS TDS WAS NEVER DEDUCTED. PLZ LET ME KNOW WHY TDS IS DEDUCTED?