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what is 94c,94J,and 94I form meant for ?
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Answer Posted / rajni
These are the code alloted from Income Tax for particulars
TDS
1]94c for Deducting TDS from Contract or Subcontract or
Adviretisement
2]94J for Deducting TDS from Professional Fees or
Consultancy
charges or Technical Fees
3]94I for Deducting TDS from Landlord [Rent]
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AT THE TIME OF REDEMPTION OF DEBENTURES. WHEN THERE IS PROFIT/LOSS ON SALE OF DEBENTURES WE TRANSFER THAT AMOUNT IN PROFIT AND LOSS A/C BUT WHEN WE CANCEL OUR DEBENTURES AFTER BUYING IT FROM OPEN MARKET THE DIFFERENCE BETWEEN MARKET VALUE AND COST OF DEBENTURES TRANSFER TO "CAPITAL RESERVE ACCOUNT .. WHY SO ANY PRACTICAL ANSWER ??
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