If a person got gold by wining a lottery and TDS on the gold
value was not deducted by the deductor. After getting the
gold, the person tranfer the gold to his daughter. After
reading the provisions of the Income Tax Act, 1961, you are
required to state that who is liable to pay the tax on the
value of the gold? and is there any liability of the
Deductor towards non-deduction of TDS?
- 1 Answers
- 2632 Views
- I also Faced
- E-Mail Answers
Answer / seswarca
ur liable for penalty for equal amt for non deduction of tds
| Is This Answer Correct ? | 0 Yes | 0 No |
The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
Dear sir, mu question is that can one lunch (Tiffin) provider person mention both vat or service tax on his bill. pls. give me answer. EXPLAIN BRIEFLY.
COST OF ASSETS 250000 ACCUMULATED DEPRECIATION 115000 SELLING PRICE 137500 PASS ENTRY FOR THE SALE OF ASSET.
what is deemed assessee?
Suppose A, Delhi is selling material to B, Chhhattisgarh & B wants this material at Bhopal. A bills like sold to party B, Chhattisgarh & Ship to party C, Bhopal. Whereas C is a site office of B. In this case whiling billing A required TIN no of B & C or proving TIN no of B is enough?
The Loss of Profit & Loss A/C Where It is Shown in Balance Sheet Liability or Assets Why ?
What are all include taxation...? What is to be noted in the taxation...? Hints would be highly appreciated.
My income for the current year from Hiring Earth Moving Vehicle to a contractor will be 250000/-my total savings are 125000,payment of my childrens tution fees will be 35000 So mine will be below taxable income .Pl let me know whether there is any chance to escape from TDS obligation.If so Pl let me know the procedure
if tiny payment made for computer parts or computer purchase or computer maintainance then how much TDS to be deducted. whether computer maintainance to be considered as contract & tax to be deducted (TDS) from the payment
under form 38,(1 no) what is the maximum no. of invoices can be done??? under rule-54(3)(a) of UPVAT RULES 2008
CAN DVAT CREDIT IS TO BE TAKEN ON COMMERCIAL INVOICE?
How will we caluclate interest on advance tax ?
Audit 
