Anonymous
03 March 2010 at 21:25
Dear Ma'am/ Sir,
Hello!
I write to you for guidance in revising the internal HR policies of the Public Charitable Trust I work for.
The trust has 3 trustees, all of whom are highly qualified professionals in their respective fields. Currently, the trust is implementing a project funded by other national and international funding agencies. As the involvement of the three trustees is on daily basis and the work they are doing for the said project is what they would do anywhere as professionals, we are trying to figure out if they can be paid "reasonable" charges for their services which are out of the scope of administering the trust as trustees.
For almost a year, we also tried working without them, but as the team is not yet able enough to undertake such a project on their own, we had to request them to commit extensive time to the activities of the project- time that in normal circumstances would generate income for them. This is happening on daily basis for two and twice a week basis for one of the trustees. As a result, the first two are unable to take up any jobs outside.
We are aware that Section 12AA has specific conditions to tax exemption but at the same time sub section 3 informs that trustees may be paid a salary or consulting fees within reasonable amount of that they would be paid anywhere else. The three trustees are charging much less than what they would get, either in private practice or elsewhere in an organization.
Please let us know what is the right way of going about in this case.
Thank you,
Suzan Fernandes
Manager-HR
madhukar
03 March 2010 at 20:20
Dear sir's,
I am salaried person & willing to do trading in chemicals & speciality chemicals from mumbai.
pl suggest me what type of registration i need to get.
it is necessary to get excise registration & sales tax registration?
if i am buying chemicals from original manufaturere & selling to onther user. then excsie duty & sales tax i am paying on buying material, how can i pass it on to my customer without having excise registration & sales registration.
if without this registration or having any one of this registration it is not possible to do trading, then how to get this registration. what is procedure, how much costelier,time consuming & what are all documents needed.
i understood that small scale manufaturer do not need to pay excise duty. is it applicable to traders also. in that case a original manufacturer who raise the bill put 10.3 % excise to me. how this is adjusted or passed on to my customer.
YASHPAL RAWAT
03 March 2010 at 19:41
A company vehicle is used for Journey from Residence to Office and Office to Residence so this Journey is official or private
Anonymous
03 March 2010 at 18:21
What is the e-commerce, and what is importance in taxtation. for example , If I am online in Up and purchase from Delhi then which tax is levied on it i.e CST or VAT, if any act available in this regard, plz let me know.
vijay dhiman
03 March 2010 at 16:52
Dear all
Pls arrange new T.D.S.Rate for A.Y.2011-12
Regds
Vijay Dhiman
ganesh
03 March 2010 at 12:59
I am taking house Improvement loan, where in the property is in the name of my Father(who has no other income and dependent of mine). Me and My Father are the co-borrowers. The entire EMI is deducted from my Salary.
In this case can I claim Income Tax Exemption. If not, is there a way out. But my question is immediately after taking the loan, if my father transfer the property to my name as gift. am i eligible for claiming the tax exemption solely.
karun
03 March 2010 at 09:57
An AOP was formed on 01.04.2005 by virtue of a un terminatable lease deed for 25 years . It contained two
individuals father and son, Father died.
The lease deed contain a clause that it cannot be terminated by any means.
It means that now surviving son will be the leassor.
But son wants to continue the AOP taking his son in place of his father
My question are :
What will be the Fate of that AOP do we have to surrender the PAN No. alloted previously and apply the new Pan No.
or there will be only rectification of PAN
Chintan
02 March 2010 at 14:31
hi,
I am Indian citizen and my wife is Kenyan Citizen. We are staying in India. All my In-laws stays in Kenya. I want to know if my wife or any of my in-laws transfer some funds to my account or my wife account in India, then is it taxable. if yes, is there any exemption limit. Will it be added to my or her income during the year.
kindly advice
Chintan
01 March 2010 at 20:04
My grand father had acquired agriculture land before 1970 and is been transferred, inherited, to may father in 1975 and from him it was transferred on my name in 1995. Earlier this land was not fall within municipality limit, but now it have covered under the limit.I want to know whether or not the capital gain tax is applicable? if yes what is the rate?
if i will purchase agriculture land from the sales proceedings then what would be the tax liability.
Kindly let me know if any other tax implications on such transactions?
thank you
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