Mukesh
27 December 2011 at 19:17
I am Karta of HUF , also a salaried employee. Salary component has an HRA .
I stay in an house own by ancestor, now in the name of my spouse.
Can I pay rent to HUF ( as i cannot pay rent to spouse ) to claim HRA ?
Anonymous
27 December 2011 at 15:49
If a fixed news paper allowance is given in salary and duly mentioned in Salary Slip. Whether it is taxable or exempt. If taxable then can it be treated as exempt by furnishing bills of Newspapers and magzines.
Manoj Yadav
27 December 2011 at 15:47
If a fixed news paper allowance is given in salary and duly mentioned in Salary Slip. Whether it is taxable or exempt. If taxable then can it be treated as exempt by furnishing bills of Newspapers and magzines.
Manoj Yadav
27 December 2011 at 15:45
As per the explanation [(baa)] to section 80HHC of the I.T. Act: Profit of the business means Profit of the Business as computed under the head "profits and gains of Business or Profession" as reduced by, inter alia, 90% of receipt by interest. In this connection whether interest income ought to be considered net of Interest expenses. ( Refer : Honda Siel Power products ltd. v Dy CIT) [2000] and Pink star v. CIT [2000]
Mukesh
27 December 2011 at 15:25
I am Karta of HUF , also a salaried employee. Salary component has an HRA .
Can I pay rent to HUF ( as i cannot pay rent to spouse ) to claim HRA ?
Human
27 December 2011 at 13:38
Dear Experts,
Is there any law / act / rule regarding the MAXIMUM PERMISSIBLE LIMIT of Cash Transaction between any 2 Indian Citizens in a day?
If there is one, please help with the relevant Act / Rule / Clause.
Also, if someone does a cash transaction Higher than the permissible limits in a day, what are the penalties related to the same?
Anonymous
27 December 2011 at 10:23
sir pl tell me what is the meaning of 'c' form pl explain me with example ?
Asha
27 December 2011 at 10:03
R and Mrs.R submit the following particulars of income relevant to AY 12-13 :
(a) Mrs. R receives a salary of Rs. 60000 and perquisites of Rs. 22500 from G Ltd, in which her father in law holds 25% of equity share capital and she herself holds 10% of equity capital.
(b) Mr. R receives a salary of Rs. 18900 from S Ltd., in which Mrs.R, her sisters and brothers hold 21% of equity capital.
(c) Mr. R is a (10% share) partner in EFG, a partnership which is engaged in the business identical to G Ltd., and receives Rs. 75000 as salary and interest from the firm during the relevant previous year. None of the relatives of Mr.R has any interest in the firm.
(d) Mrs. R is employed by EFG on a salary of Rs. 15000 per annum.
(e) She receives dividend of Rs. 11000(gross) from G Ltd., and Rs. 7584 (gross) from S Ltd. on 1/7/2011
(f) Interest of minor daughter of R from a partnership firm is Rs. 43500
FIND OUT THE TAXABLE INCOME OR MR.R AND MRS.R FOR AY 12-13 ON THE FOLLOWING ASSUMPTIONS :-
A] That Mr.R is not a beneficial shareholder in G Ltd. throughout the PY.and
B] That Mr.R holds 10% shares in G Ltd. only during 15 days of the PY [1/7/11-15/7/11].
Answer :-
Part A]
Mr. R => GTI = 75000
Mrs.R => GTI = 166800
Part B]
Mr. R => GTI = 199500
Mrs.R => GTI = 42300.
I am not getting answer of Mrs. R in both the cases. Please help.!
thanks in advance...
Anonymous
26 December 2011 at 23:04
RESPECTED EXPERTS,
I RECEIVE REGULAR REMITTANCES OF US DOLLARS FROM USA FROM MY DAUGHTER AND HER HUSBAND THROUGH BANK. IS THIS AMOUNT TAXABLE IN INDIA?
AND WHAT IF IAM HOLDING THIS MONEY FOR THEIR BENEFIT ONLY?
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Trf from pvt ltd
Pl. advise..
Can the pvt ltd company can transfer any amount of money other than the commercial transaction, say loan to a proprietory organisation where the Direcot is the Proprietor of the organisation
What is the maximum limit and what are the consequences on transfer..