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Prajna Acharya   17 July 2009 at 18:05

Income tax on income of LIC Development officer

I want to know how to compute income of L.I.C. Development officer's income under Income Tax Act, particularly with regard to allowance of expenditure (giving an example wit fict. figs if possible). further please provide me any case laws for claiming such exps in case the same is not as per sections of the income tax act.
Thanks in advance.

kk   16 July 2009 at 23:32

royalty payment

we are payor for services received from USA company and we are paying royalty so at time of paying royalty do we need to reduce service tax from royalty ???(I donot mean TDS)
so is ther any DTAA agreement with USA for dedudtion of service tax on royalty paid??
please give me link of DTAA ..........

P.S.Subbaraman   16 July 2009 at 20:01

Service Tax

If a Father and son are practising as Advocates .Are they liable to pay Service Tax and whether they come under the definition of "Association of Persons".
Whether the applicability of Service tax on legal firms has been duly notified or not ?

R_PVK   16 July 2009 at 14:48

Regarding tax on property acquired by sucession

Dear sir
My mother is likely to acquire a propery worth of Rs 39 lakh since she had filed for succession certificate after my uncles demise .The query to understand is that this property will be treated as gift? if so what will be the liable tax when the property sold today or a year after please give your expert advice
Regards
R_PVK

K. Sundar Rajan   15 July 2009 at 16:10

Definition of Education u/s2(15)

According to Supreme Court decision in respect of Lokshikshana case, "Education" means only what is taught in Schools and colleges and does not include any other form of education which helps an individual to manage his life better; which inculcate certain values for leading a stress free life and also which helps an individual to develop skills for inter personal relationship; communication etc and also Meditation and Yoga.

My query is whether such value based education which helps a personal to transform himself / herself is also "Education" and hence covered by Sec.2(15).

Can you please elucidate.

Guest   15 July 2009 at 14:57

SEZ Service Tax Issues

Friends,

We have a seminar on SEZ Service tax issues. W would b thankful if u can provide any kind of useful material on the subject.

Guest   15 July 2009 at 12:24

New Pension Scheme v/s Employees'Provident Fund

CLICK THIS ONE:

http://economictimes.indiatimes.com/articleshow/4771601.cms

Nehal   13 July 2009 at 17:04

Reg. buyback of FCCBs

In case a Company buys back its Foreign Currency Convertible bonds at a discount to its face value, what is the accounting treatment, i.e. whether it is a capital gain or an income to be credited to P&L Account? If anyone has the accounts of any such transaction of a company, please provide that also or any such refrence material on nsnehalshah@gmail.com.

motilal   13 July 2009 at 15:58

SERVICE TAX

SERVICE TAX IS EXEMPT UP TO RS.10/-LACS.
DURING THE YEAR WHETHER SERVICE TAX IS PAYABLE AFTER FEES EXCEED RS.10/- ON EXCESS OF THAT LIMIT OR ON WHOLE OF FEES RECEIVED DURING THE YEAR ?

KINDLY ENLIGHTEN IN DETAIL THE PROCEEDURE.

THANKING YOU,

MDG

Saurabh   13 July 2009 at 15:16

TDS under section 194c

In case of Custom House Agents (CHA) the air freight paid directly by the CHA on behalf of his Customer.(for which the Air Freight Bill is received in the name of CHA)

now the Question is -
Weather TDS is deductible under Section 194C?

kindly Quote if there is any Judgment in this regard.

Thanks in Advance.