can any one clarify this please urgent

Hi,

For stating the section of VAT TDS provisions, one has to refer to the state vat laws. for e.g. - In Maharashtra such provisions are covered by Section 31 of Mvat Act & Rule 40 of Mavat Rules. So refer to the concerned state vat law.

There may be negative income under the head income from house property, as in case of self occupied property GAV is Nil but still deduction of interest u/s 24 of Income Tax Act is permissible.

I could not understand your 2nd Question

Dear friend,

1.

It is called Works contract Tax deducted at source (WCTDS) in kerala, where i come from.

Since the contractor may be dishonest or may not know how to compute his WCT liability, the contractee is required to deduct WCTDS as remit to VAT dept.

For this, the contractor will get a certificate from the Dept stating the amount of WCTDS to be deducted, for each contract.

Contractee has to deduct the WCTDS and remit it monthly, and give a quarterly certificate to the contractor, i think its in form 20B (KVAT Rules) here.....

2 & 3.

Interest on HL is claimed on accrual and not payment basis.

If let out, no limit for interest

if self occuppied, then 150,000/- (generally)