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vipul   08 February 2016 at 00:19

Salary related

I have joined a sole proprietorship. I have to give salary bifurcation . One of our employee is getting 35000/- per month and i gave following bifurcation.
Basic 50% = 17500
DA 10% = 3500
HRA 40% of basic + DA = 8400
Transport Allowance = 1600
Children Education Allowance = 200
Special Allowance = 3800

Actually I had bifurcate 35000/- as on random basis.

My question is whether this %age is correct or i have to follow some fixed %age if any recommended by Act....??

Monesh Agrawal   07 February 2016 at 15:06

U/s 31 in up vat

Sir
mera return timely deposit hai uske baad bhi mujhe ek notice received hua tha return submit nhi hai ka jiska jawab maine department ko de diya tha uske baad bhi mujhe ex-party order u/s 54(1)(1b) mila hai is related jb main Asstt commissioner se mila to unhone mujhse kaha ki u/s 31 me application dene ko .... So plz u/s 31 me kya application dena hai mujhe suggest kre agar iska format ho to plz provide karaye...

thanx

Rajeev1978   06 February 2016 at 17:24

Taxation in sale of property for a senior citizen

What will be the tax implication in sale of a plot of land around 35 lakhs for a , house wife & senior citizen (around 65 yrs)who is a pensioner, drawing the pension of her late husband to the tune of 1,80,000 (p.a.),which she later wants to invest in a commercial property in a years time ?

ashis talukder   06 February 2016 at 17:21

Sec 56(2)(vii) purchased a flat

"A" salaried person from Kolkata,after all deduction net taxable income Rs.425000/-have purchased a flat on April 2015 for a transaction value of Rs.1200000/-(Reg.Value Rs.2000000/-on which stamp duty+fees paid),Plz guide whether "A"have to pay any tax?What to do/procedure to follow.Thnx.
Is there any effect of the above mentioned new section? & how much?

pradeep   06 February 2016 at 12:59

108 customs act

I have received first summons under 108 customs act to give evidence and record statement but I am working out of country and is not possible to come now.what should I do? what is the procedure?

pradeep   05 February 2016 at 00:39

summons under 108 customs act

I have received a first summons under 108 customs act to appear for witness. but I am working out of country and is not possible to get leave.what should I do? what is the legal recourse for me?

Ramesh Baliram Lute   04 February 2016 at 20:50

Single day- multiple chalan

Nowadays bank not accept multiple challan in single day, having same TAN No, Assessment year , Minor head, Nature Of payment etc., as advise by CBDT Audit Deptt. Is there any Govt/RBI Notification in this regards. Kindly advise.

gopinathan   04 February 2016 at 17:40

Punishment for tax evasion

A contractor made evasion VAT 12 lakhs to tamilnadu State govt, by furnishing forged documents as signed by commercial tax officers.This is has been found through RTI documents. What will be the legal proceedings against the contractor.

Amit R Kumar   03 February 2016 at 08:39

LIC Life Insurance

Hi Sir/Mam,
I have just started working as a LIC underwriter. I am looking for some questions to be answered by the experts.
Kindly let me know that
1.how can I convince any corporate to invest in LIC s endowment policies?
2. Is there any particular benefit which any corporate can gain from Life Insurance cum investment policies?
3. How to approach corporates for the life insurance policies?
4. How to sell big amount policies to them?

Kindly suggest me, it will help me in building up my career in the insurance sector.
Thanks
Amit Kumar

Mrunmai Deshpande   03 February 2016 at 03:58

Gift tax

Sir – I am in 20% tax bracket. My son is also employed but his current annual income is less than 2.5 lacs. I have a joint bank SB A/c with my son where my son is the 1st holder in the A/c. I made an FD on our joint name with my son as the 1st holder. I have transferred the amount from my individual A/c. The interest from that FD will be transferred to the above mentioned JT A/c. Can the above mentioned transferred amount be shown as gift given to my son? Who has the tax liability for the interest earned on this FD? Please advise.