N.J. MISHRA
05 February 2011 at 09:41
PLEASE MEMBER KINDLY ADVISE ME,
ONE OF OUR EMPLOYEE (EMPLOYED ON CONTRACT BASIS) WAS EMPLOYED ON FOREIGN FLAG SHIP AS A CADET, HE SUFFERED RENAL FAILURE, LAST WEEK HE UNDER WENT KIDNEY TRANSPLANT AT JASLOK HOSPITAL. ALL THE EXPENSES WAS INCURRED BY THE COMPANY. AS PER THE CONTRACT THE COMPENSATION WOULD BE PAID ONLT TO THOSE ILLNESS OR INJURY ARISES OUT OF THE COURSE OF EMPLOYMENT AND ARE WORK RELATED. ACCORDINGLY HE IS NOT ENTITLE FOR ANY COMPENSATION AS THE NATURE OF ILLNESS IS NOT WORK RELATED. NOW THE COMPANY ON HUMANITY GROUND WANTS TO GIVE HIM COMPENSATION TO HIM. THE CADET HAS BEEN DECLARED AS A UNFIT AND PERMANENT DISABLED. MY QUERY IS THAT THE AMOUNT OF COMPENSATION WOULD BE TAX FREE OR LIABLE TO TAX. WHAT WILL BE THE PERCENTAGE OF AMOUNT OF AMOUNT WILL BE PAID AS A TAX. THE COMPANY WOULD DEDUCT THE TAX AMOUNT OR THE CADET WILL LATER PAY THE TAX ONCE THE D.D. HAS BEEN ISSUED TO HIM. WHAT SEC. WOULD BE APPLICABLE IF HE IS ENTITLE TO PAY TAX.
Shyam Ji Srivastava
04 February 2011 at 21:09
Dear Members,
Whether TDS is compulsory where compensation awarded by Court by way of INTEREST in any decree?
e.g. The Consumer court directed to a development authority to refund the deposited amount alongwith interest @12%. The authority submitted cheque after deduction of TDS. Is it right in the eye of Law? Court verdict is that the interest awarded by way of compensation is not PROFIT>
Shyam Ji Srivastava
Senior Advocate
Anonymous
04 February 2011 at 12:27
We are having only local VAT TIN. Now, we want to sales against form H whether it is possible or not without Central Act Registration no.????
BIBEKANANDA MOHANTI
04 February 2011 at 08:11
Is service tax leviable on rental service,ie:for giving premises on rent for commercial purposes.Are there any decisions on this matter by Tribunals/Courts etc.Is any matter on this issue pending before the Supreme Court.
alka bhardwaj
03 February 2011 at 17:55
I HAVE BUY HOUSE PROPERTY BY TAKING LOAN AND PAYING INTREST ON IT. I HAVE GIVEN IT TO MY PERENTS AND DUE TO SOME REASON I RESIDES ON RENTED PROPERTY IN SAME CITY.MY OFFICE IS IN ANOTHER CITY AND I M CLAMIMNG HRA FOR THIS.
NOW MY QUESTION IS WHETHER CAN I HAVE DEDUCTION OF INTREST OF LOAN OF RS 150000 AS WELL AS HRA.
AND WHAT WILL BE CONSEQUENCES IF HOUSE PROPERTY VACATED.
alka bhardwaj
03 February 2011 at 17:53
I HAVE BUY HOUSE PROPERTY BY TAKING LOAN AND PAYING INTREST ON IT. I HAVE GIVEN IT TO MY PERENTS AND DUE TO SOME REASON I RESIDES ON RENTED PROPERTY IN SAME CITY.MY OFFICE IS IN ANOTHER CITY AND I M CLAMIMNG HRA FOR THIS.
NOW MY QUESTION IS WHETHER CAN I HAVE DEDUCTION OF INTREST OF LOAN OF RS 150000 AS WELL AS HRA.
Rishi Singh
03 February 2011 at 12:32
We are a STP unit under the Software Technology Park Scheme of the Government of India. We do not manufacture any excisable goods but are service providers and are registered as per Service Tax Rules. Our records are audited by our internal and statutory auditors as well as by the Audit Group team from the O/o The Commissioner Central Excise, Noida having jurisdiction over our unit/area. We have recently received a letter from The O/o The Accountant General (C & R A), Lucknow (U.P.) that an audit of Central Excise receipts and refunds of our unit is to be conducted. Our query is : Are we liable to be audited by A.G (C & R A ) office. If so under what rule/section. If not how can we refuse/avoid the audit.
Anonymous
02 February 2011 at 23:38
while filling the income tax return,iam confused with ZERO,NIL AND NOT APPLICABLE.how to use the above terms.I AM very greatful if you could give an example. please clarify me.
thanks and regards
mahesh
Rave Gerawal
02 February 2011 at 23:06
Hi,
residential property in name of 3 family members is being sold after over 3 years. New residential propert being acquired will be registered only in name of 1 of the 3 sellers. Will they be able to avail exemption under long term capital gain ???
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form "H"
We are having only local VAT TIN. Now, we want to sales against form H "within state" whether it is possible or not without Central Act Registration no.????