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fayaz khan

Category : Tax Comp..,
Solved
February 9, 2016 8:33 pm
  • Tax Computation
Hello All,

How much is income tax (% of total income) for a private limited company?
Is this applicable for a newly formed company less than a year old and has income less than 1 cr?

Thanks in advance.
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Amlan Dutta
Income tax for a company is referred to as corporate tax ...it is flat 30 % of taxable income or MAT whichever is higher ....it doesn't matter whether company is less than a year old or has income less than 1 cr ...as a company , it also has to maintain compulsory books , get audited and follow all ...
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  • February 10, 2016
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Anshul

Category : TDS Cred..,
Solved
February 9, 2016 2:05 am
  • TDS Credit
Sir, if a bank has deducted TDS on FD @ 20% due to non submission of PAN so then what remedy is available to such victim. Can a assessee obtain the tax credit of the above tds through any means??
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Amlan Dutta
I will explain to you the concept ...what happens when the assesse doesn't deposit his PAN is that the deductor is not able to map deducted TDS against unavailable PAN of the assessee while filing TDS return and as a result , the TDS credit doesn't reflect against assessee's tax credit statement( 26...
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  • February 9, 2016
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SANJAY DAS

Category : Deductio..,
Solved
February 8, 2016 2:00 pm
  • Deduction benefit for House property
Sir, can husband and wife each claim Rs.2,00,000 house loan interest u/s 24B where loan has been sanctioned to a their Joint account and Deed has been made by both names
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Amlan Dutta
What is the loan amount sanctioned ...say loan amount is 2 lakhs , how can each claim 2 lakhs then ..if they do they will be claiming 4 lakhs in total ...obviously it can never be the case ...next who is actually repaying the loan ( just the loan name is not the criteria )...the person who is repayi...
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  • February 8, 2016
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SANJAY DAS
but Amlan sir, if the Husband and wife are Co-sharer each then ? because According to income tax act if a house is Co-sharer (2 brother) then each co- sharer get maximum 2 lakh rebate U/s.24(b).
  • March 2, 2016
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Tridip Jyoti Das

Category : Indirect..,
Solved
February 7, 2016 12:47 am
  • Indirect taxes
sir,we have started online saling business.We need to apply for payment gateway for online payment system.For that we are being asked for registered name.But we are bit confused how to proceed for registration.Kindly help us.Whom we have approach?
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Amlan Dutta
You are doing online sale business. So the sale business must be under some name , right ...like you have a name , business will also have a name , it cannot be anonymous
Eg- Flipkart , Myntra etc etc are business names ..if it's a site , maybe the site name is what you have decided to name the busi...
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  • February 7, 2016
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