| ID | Description |
| TDS/TCS |
| 16497 | TDS Us 194-I A
As per section 194 I A TDS is attracted prior the consideration of transfer of immovable property other than agricultural land exceeds 50 lacs. In a case where there are two vendors who are to be paid 30 lacs each whether 194IA will be applicable. by Ethirajan 5/16/2013 12:00:00 AM Post Answer View Answer Total Answers : 4 |
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| 16496 | Payment to Non residentTDS
As per section 195 TDS is to be effected even for purchase of property from non resident. A resident buying a property in the month of May from a non resident is not sure of residential status of the vendor for the running financial year even though it is known that the vendor was non resident for earlier years. In these circumstance also whether section 195 applies. by Ethirajan 5/16/2013 12:00:00 AM Post Answer View Answer Total Answers : 3 |
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| 16493 | TDS on Society FDR
Dear All
There is a FDR for Rs 15 lac in the joint name of ABC Education Society Director Technical Education Raj Govt . As per income tax rule TDS will be deducted @10 if Pan is provided otherwise 20.
Also as per Us 197 if form -15 G is submitted then zero or less amount of TDS will be deducted subject to max exempted limit.
In our case can we submit form 15 –G with Education society PAN or not .
Pls guide us what we should do.
Thanks by NITIN JAIN 5/16/2013 12:00:00 AM Post Answer View Answer Total Answers : 6 |
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| 16484 | how to claim credit of tds?
One of my client a pvt ltd co. has offered commission income on accrual basis in the a.y.12-13 without claim of tds, as the same was not deducted by the payer in that asst yr.and hence not reflected in form 26as. The payer has accounted it as expense in the next year i.e. in a.y.13-14, deducted the tds and paid the balance.In form 26as for the a.y.13-14, this amount is reflected. Now the question is that how to claim credit in the return for a.y.13-14, as the corresponding income has been offered as income in the previous year i.e. a.y. 12-13? Many thanks in advance. by CA. HITESH K CHANDARANA 5/13/2013 12:00:00 AM Post Answer View Answer Total Answers : 5 |
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| 16482 | Applicability of TDS us 194C or 194J
I would like to know under which section TDS is to be deducted for the installation Re-installation of UPS system.
Please let me know if any case law or circular notification is there for the same. by VISHAL HEMANT CHHEDA 5/13/2013 12:00:00 AM Post Answer View Answer Total Answers : 4 |
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| 16478 | Invalid receipt no being shown on traces website
Whille requesting for Form 16-A after filling Provisional receipt no i.e token no of receipt issued by facilitation centre message appears
that invalid receipt particulars.Has any body
downloaded Form 16-A from sit for 4 th quarter
2012-13 Fin Year by Mahesh Kumar 5/12/2013 12:00:00 AM Post Answer View Answer Total Answers : 1 |
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| 16444 | TDS on Lab Testing Fee
One of my client is manufacturer trader of Pharmaceuticals products and for better marketing he had approach in UKRAINE and appoint his distributors . Now , he had to pay Lab testing fee to Ministry of Health for Product approval in Ukraine
Now I seek your guidance whether TDS deducted on such remittance and if Yes on which rate . Further what will be the implication of Service tax by SANDEEP KAPOOR 4/30/2013 12:00:00 AM Post Answer View Answer Total Answers : 3 |
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| 16404 | Payment of commission on exports to non resident agents
Whether TDS to be deducted on export commission earned by non resident despite withdrawal of circular no. 23 786 through circular no. 7 dated 22nd Oct -2009.
Recenlty in Gujrat Reclaim Rubber products ltd, ITAT held that income of non resident rendering service outside India are not deemed to accrued or arise in India since they did not have any business connection OR PE in India. section 9(1)(i) (placing relaince on Delhi HC ruling in EON technology) held that income of non resident had not accrued or arisen in India.
Further it was agreed by ITAT that explanation to section 9(2) taxability irrespective of having business connection in India inserted by finance act 2010 is not applicable to section 9(1)(a). Based on these ruling it seems TDS is not deducted and also no disallowance as per section 40(a)(ia).
Request your thoughts for deduction or non deduction of tax on export commision. by Meenal 4/22/2013 12:00:00 AM Post Answer View Answer Total Answers : 3 |
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| 16393 | updation in 26AS after e-filling of tds return
sir let me know what time is take in updation of concerned party 26AS after e-llinf of tds return by deductor by VAIBHAV AGARWAL 4/20/2013 12:00:00 AM Post Answer View Answer Total Answers : 5 |
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| 16382 | TDS Applicable on Purchase of Import Licence
If anyone sell import licence then he has to deduct tds on selling price ? If answer is yes in which section is applicable. by Patel Rajeshkumar Jagadishbhai 4/15/2013 12:00:00 AM Post Answer View Answer Total Answers : 6 |
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| 16380 | TDS on appraisal charges on Jewel loans
* A private bank service charges booklet states .5 of the facility amount for jewel advances to be collected as charges . Out of the above,it is also prescribed to pass on the appraiser charges to the jewel appraiser (say 50)the balance credited to the Income. In our opinion ,since the composite processing charges @0.5is inclusive of appraiser charges the appropriate tax applicable us 194J(Professional charges) has to be deducted @source.If the forum members agree with my view,it may be enlightened how this situation can be
obviated.My suggestion is to make the borrowers pay the appraiser charges direct to the appraiser without either routing it through the bank not to
include the charges along with processing charges prescribed (0.5)in the Booklet. *If the tax has not been deducted what are consequences to follow on the banks failure to deduct tax @source remit. by S.Balasubramanian. 4/14/2013 12:00:00 AM Post Answer View Answer Total Answers : 3 |
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| 16345 | TDS on Rent
A firm is paying Rent to its landlord which exceeds Rs.180000 annually. In landlord account firm is making credit entry of rent on annual basis on 31st March every year instead of crediting it monthly and deducting TDS on yearly basis instead of monthly basis. Is the treatment of firm is right ? by CA. JIMMY MODI 4/4/2013 12:00:00 AM Post Answer View Answer Total Answers : 6 |
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| 16332 | TDS liability in case of Tax Audit urgent
Last Year ending 31-03-2012 an individual is liable to tax audit us 44 AB. this was his first year of Tax audit so he has not deducted the tax at source. In this year his total sale is only Rs. 57 lakh whic is below tax audit limit. Whether he is liable for TDS in this year or not?
And what is the case if he will file his return under section 44AD? by SUMITI JAIN 4/1/2013 12:00:00 AM Post Answer View Answer Total Answers : 4 |
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| 16299 | TDS on Directors Remuneration
As per newly section 194J(1)(ba) inserted wef 1712, any remuneration or fees or commission by whatever name called other than those on which tax is deductible us 192 to a director of the company shall liable to be deducted @ 10.
My queries is how should we distinguish between payment made to directors to be included us 192 and us 194J. Whether payments made to Whole Time DirectorManaging Director should be considered us 192 on assumption that they are employees of Company. Further, if we have deducted TDS us 194J on Directors Remuneration, should we consider Remuneration paid to Director as Income from business and Profession in hisher personal IT Return. Please advise by Achyut Shendye 3/22/2013 12:00:00 AM Post Answer View Answer Total Answers : 6 |
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| 16292 | Applicability of notification No. 112013 Dated 19th Feb, 2013.
As you are aware that new TDS Return form (24Q, 26Q, 27Q and 27EQ) has been notified by the Department vide notification No. 112013 Dated 19th Feb, 2013.
Kindly make clarification on the following points
1. Whether these revised form is applicable for the 4th Quarter also as changes in the E-Filing structure is yet to came.
2. Whether these revised form is also applicable for the return filed after this notification and return period belongs to the period 1st quarter of FY 2012-2013.
3. Whether TDS Certificate for the 4th quarter will be issued through the TDSCPC website as format contain the information relating to the data available with the CPC also. by vinod khandelwal 3/20/2013 12:00:00 AM Post Answer View Answer Total Answers : 1 |
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| 16282 | TDS Deduction under section 194I of I.T.Act
So far Deductor under section 194I of I.T.Act is concerned for deducting TDS towards Rent Payments for using Factory Premises on rent from Deductees account (being an Individual) @ prescribed rate on which amount this is to be deducted either on only on Rental Charges or Rental Charges inclusive of Service tax as the Deductee is covered under Service tax Net and Deductee is raising invoiceDebit Note for basic Rent Charges plus Service Tax @12.36 which is separately showing. by SANJAY BAHETI 3/19/2013 12:00:00 AM Post Answer View Answer Total Answers : 1 |
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| 16267 | Tax Deduction on payment received from flat buyer with regards to society expenses
A company is in the business of construction of residential complex. The Company issue bill to buyers (who booked the flat and paying installments) for future expenditure on fix rate (Say Rs. 5 per Square Feet) basis. The said bill is raised after imposing service tax. The company use the fund received from the buyer to meet the expenditure. The surplusDeficit is credited to society bank account when the building completes and society forms.
Some of the buyers deduct the tax on payment made to the company for society maintenance on Company PAN Number. The company has no income in the picture and cannot take the said tax credit.
Who to avoid tax deduction or avail credit? by Mohit Choudhary 3/16/2013 12:00:00 AM Post Answer View Answer Total Answers : 1 |
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| 16247 | TDS ON THE WINNING OF SLOGAN CONTEST ORGANISED BY A JEWELLER
A JEWELLER HAS ANONUNCED A SLOGAN CONTEST AND A CUSTOMER IS ELIGIBLE TO PARTICIPATE IN THE CONTEST IF HE PURCHASE JEWELLERY ABOVE CERTAIN VALUE. WHETHER TDS HAS TO BE DEDUCTED FOR THE PRIZE PAID IN KIND TO THE WINNERS AND IF SO WHAT IS THE PERCENTAGE OF TDS by V.Nagaraj 3/13/2013 12:00:00 AM Post Answer View Answer Total Answers : 3 |
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| 16237 | TAX PAID US 206AA AT 20
ONE OF ASSESSEE DEDUCTED @ 20 US 206AA. NOW I.T.O (TDS ) ISSUED NOTICE US 139A(5B) , DEPICTING THAT QUOTING OF PAN IS COMPULSORY IN THE T.D.S RETURN.WHILE 206AA OVERULES ALL SECTION OF INCOME TAX ACT , IF DEDUCTEE DEPOSIT TAX AT 20. KINDLY CLARIFY AS TO WHETHER I AM RIGHT OR NOT. by SUNIL KUMAR KHANNA 3/11/2013 12:00:00 AM Post Answer View Answer Total Answers : 1 |
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| 16194 | TDS deductible or not
One of my client has given an advertisement in front page of a newspaper and paid Rs 50000- for the same during the year.Whether he is liable to deduct TDS? If yes please specify the section of Income Tax Act 1961,under which he is liable to deduct TDS by Gaurav Agarwal 3/3/2013 12:00:00 AM Post Answer View Answer Total Answers : 8 |
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