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Santosh   23 June 2008 at 11:54

Taxation of Gratuity

Dear Seniors

Our Client is having their own Approved Gratuity Trust set up.

As per their Internal proces they pay gratuity to resignees even they have not completed the 5 years of Service.

Will such gratuity will qualify for tax exemption under section 10(10)(ii) or 10(10)(iii).

Kidnly help me out so that I can advise them.

SANJAY DIXIT   22 June 2008 at 21:42

Information about IT Returns!

My client has the PAN number of her husband.
Whether she can get the information from Income Tax Dept. under RTI ACT regarding IT Returns filed by her husband in the prev. fin. years?
Whether PAN number is sufficient for the said purpose?

ankit gupta   22 June 2008 at 15:07

OPENING A NGO

RESPECTED SIR/MAM

WE ARE PLANING TO OPEN A NGO fOR THE UNDERPRIVILEDGE CHILDRENS,i want to know that what is the procedure to get the tax exemptions under section 80g of the income tax act.and what is the procedure to do the same so that whosoever gives any donation in our Ngo gets that benefit.

thanks

regards

ankit gupta   22 June 2008 at 15:07

OPENING A NGO

RESPECTED SIR/MAM

WE ARE PLANING TO OPEN A NGO GOR THE UNDERPRIVILEDGE CHILDRENS,

Anil   18 June 2008 at 17:57

Gift to Wife

1)Can a person gift money to his spouse without attracting Sec.64 of the Income Tax Act ? Note that the person does not genuinely would want to have any right over the money given to his spouse


2)A person has given money to his wife. The wife invests the money in NSC. In the given case Section 64 of Income Tax is attracted for the interest accrued on NSC.


I would like to know whether the person can claim deduction u/s 80C for the money invested in NSC. Note that the NSC certificates are in the name of his wife.

Kindly answer pointwise in the order question is being asked.Thank you.

Sanjay Sharma   17 June 2008 at 12:09

Invoicing under rule 11 of C.E. Rules,2002.

Can we transfer the 'Cenvatable inputs 'to the other part of the same unit. We are manufacturing Tractors and also operating the 'Spares Parts Division'in the same premises. Spares Parts division has been added in the Central Excise Registration Certificate after the 1st june-06.

Tractor is exempted in the excise but the tractor parts is not exempted. so we procure the parts and sell them with our labeling. some times we transfer the Parts to the plant for the tractor manufacturing as it is condition.

My Query is -

1. Can we transfer the inputs to plant on non-excisable invoice without charging the excise duty ?.

2. if we can transfer the inputs, can we debit the excise duty payable on the said inputs in the end of the month by the notional calculation i.e on inputs value 14.42%.?

3. Or should we transfer this inputs to the plant on excisable invoice under rule 11 of C.E. Rules, 2002. Is above
mentioned process violation of this rule.

Pls. clarify.
Regards
Sanjay Sharma

Anil   16 June 2008 at 15:12

KARNATAKA VAT - Audit

1) Is VAT audit mandatory in Karnataka for private companies who get their books audited under Companies Act as well as income Tax Act?

2)When is the last date for filing of Form 240 under Karnataka VAT?

3)Once an establishment is registered under Karnataka VAT should it be renewal every year like it was being done earlier under the Karnataka sales Tax Act? If yes, please let me know the Form to be used, the last date for filing such form as well as the fees to be paid for renewal and the cheque in whoes favour renewal fees is to be paid


4) Can one submit monthly KARNATAKA VAT form 100 online?


Kindly answer the questions pointwise in the order they are asked

Thank you

ashish   16 June 2008 at 14:05

banking cash transaction tax.

sir,
what are the provisions of b.c.t.t.,currently.i have heard it has been abolished.i want to know 4m ven it will be effective?

VASANTH D JAGANATH   15 June 2008 at 14:51

input tax credit under kvat law

goods vehile used for transportation of goods [raw materials and finished goods] whether input tax credit can be claimed under kvat law

sl.no.1 of fifth schedule abgstruct the input tax credit on such use or not?

Sanjay Sharma   13 June 2008 at 11:27

Shipping Bill

We have filed the shipping bill in the Custom at the exchange rate applicable in the month of May-08, but now in the month of june-08 the exchange rate of customs has been changed.

My Question is -

1. Can we send the material on the shipping bill we had alredy filed with the customs. Is there any problem to sending the material in this way.

Pls explain ASAP. Its urgent

Regards
Sanjay sharma