Rumy
21 April 2008 at 16:05
Dear All,
Hope you all are doing well.
I have a query regarding "Fringe Benefit Tax".
There is a component in my salary which is "Medical Allowance". For which I submit my bills to the employer.
My employer is deducting tax under the head FBT.
My query is, Am I liable to pay FBT from my pocket or is my employer liable and he is illegally deducting my tax.
Please enlighthen me on this.
Regards,
Baseer Qidwai
bm
17 April 2008 at 11:20
Respected sir/ madam
please help me in professional tax filing based on the pin code or ward
please give me the information about ward wise fileing address
like income tax
thanks
Manish
17 April 2008 at 01:59
An individual is having two sources of income- A and B. (A) is specified profession where gross receipts >1.50 Lakh and he is required to maintain books of a/cs. (B) is retail trade u/s 44AF and so not required to maintain books of a/c.
My Qn is: How should he fill up the "Part A-P&L" in ITR4.
Option I: Should he fill up item 1 to 50 for (A) and 51 for business (B) ? (but subsequent "Schedule BP" reads in col. A.1 "Item 43 OR (not and) item 51d of Part A-P&L".
Option II: he should sum up the figures of Profession (A) with the parameters of business (B) as required in 51a to 51d and mention in items 1 to 50.
Can’t in Option II the AO may ask to produce books for business (B) also on the plea that “you have filled the items as if books are maintained”.
Same is the confusion with regard to PartA-BS.
Please Guide.
sanjay_deys
11 April 2008 at 18:10
Hi,
We have not created any Gratuity fund or trust for gratuity. If we simply pau the insurance premium for gratuity, can we get the deduction of premium paid for Income tax.
Please give your advice.
Regards
Sanjay
sambala1979
11 April 2008 at 11:59
Dear Seniors,
Can anyone explain about the form 16, pls its urgent
Warm Regards
Sambala
Rakesh Sood
11 April 2008 at 10:29
Recently I was reading a judgement of some HC as per which if tax deducted at source from salary or other income is not paid by deductor to the Government account. Then it can not be recovered from person from whom the amount has already been deducted.
I seek clarification of the Ld. members.
charu
08 April 2008 at 13:41
i prepare bill on hyedrabad parties, but paty dont have any tin no .my product rate as per mvt is 12.5%, but against c form i charge 2% Pls tell me what rate i charge
Jigar Goradia
07 April 2008 at 17:21
I have rented out a commercial property to a super market.The L & L agreement was signed in dec 06,but the store opened in feb 08.It was agreed in agreement tht all applicable taxes as on opening to be paid by owner nd any new taxes or any revision or amendement be paid by tenant.On whom is the liability of service tax falls? Isnt is so tht irrespective of agreement,the service tax has to be borne by the service reciever?
prajesh
05 April 2008 at 18:17
1. If I buy (on spouse name) MF/Bond/ELSS online, how can I claim deduction u/s 80C? How deduction will be calculated? Is it necessary to keep them more than 1yr to claim deduction? Will be complete amt. invested in a year fully exempted even if hold them for 3yr and continue investing? How tax will be calculated on sale?
2. Can I claim medical reimbursement by submitting bills from medical store? Plz elaborate
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Income Tax Act
A Director of a company, which was running under loss for past 8 years, had not claimed his salary and no provision has been made in the books as salary payable at all for last 8 years. Now the company has revived and started showing profits. Can he claim his salary in arrears for the last 8 years and what is the impact in company books and the personal taxation of the director ?