Articles by RAJAN GUPTA

CBDT Clarification :6th CPC Tax due on 60% arrears FY 08-09

RAJAN GUPTA 30 September 2008 at 23:16

Dear Friends,As I have already written a post about tax due on arrears from sixth pay commission .In that Post I have mentioned that as per section 192 of income tax act , tax is not deductible from the 60% of arrears which is to be paid in FY 2009-1

Posted in Income Tax | 22677 Views

Tax on SIxth Pay Commission Arrears in FY 2008-09

RAJAN GUPTA 15 September 2008 at 16:10

Dear Friends , In this post we discuss various aspects of the tax due of arrears received /allowed to the Govt employees in light of Income tax rulesArrears to be given on the basis of sixth pay commission Report As per sixth pay commission the rep

Posted in Income Tax | 1 comments | 26463 Views

TAX DEDUCTED ON SOURCE ON TRAVEL AGENT

RAJAN GUPTA 13 September 2008 at 18:11

query before us is"whether tds should be deducted u/s 194C for payment made to travel agent for booking of airline tickets by a company for its employee(s)"?The following general conditions should be satisfied for a payment to qualify for

Posted in Income Tax | 3 comments | 25911 Views

Income Tax Return After Due Date-Anlysis

RAJAN GUPTA 26 August 2008 at 12:51

Last Month was a very busy one for Income tax offices, as Offices were overcrowded bu tax payers due to last date of Filing of income tax returns for non audit cases ,specially persons who has earned salary income ,and department has to open special

Posted in Income Tax | 12 comments | 28926 Views

TAX PAYMENT BY CHEQUE BEFORE DUE DATE CASHED AFTER DUE DATE

RAJAN GUPTA 18 June 2008 at 13:11

The question before us is"if tax is deposited on or before due date through cheque but en cashed after the due date ,whether it can/will be treated as "default in payment?" First of all I take clear provisions regarding the above quest

Posted in Income Tax | 2 comments | 39744 Views

TAX SAVING TIP:LOSS FROM SHARES

RAJAN GUPTA 22 May 2008 at 13:57

By reading the title of the post you will be thinking that there is no tax on long term capital gain on shares then what is the relation between tax saving and long term capital loss?But after reading the next few lines you will definitely understand

Posted in Income Tax | 5 comments | 21438 Views

TDS ON SERVICE TAX ON RENT/FEES U/S 194-I & 194 -J

RAJAN GUPTA 02 May 2008 at 06:45

A long awaited clarification regarding tds on service tax on rent payment u/s 194-I has been Issued by the CBDT. Details about the issue is given hereunderBrief about section 194-I Rent is to be deducted by all person on payment of rent except huf

Posted in Income Tax | 4 comments | 66315 Views

TDS IS LIABLE TO BE PAID ONLINE OR NOT?

RAJAN GUPTA 13 April 2008 at 10:44

Dear friends,As you may know that E-PAYMENT OF TAXES has been madeMANDATORY FROM 1.04.08 for certain category of tax payers i.e1.All Corporates.2.person other than corporate but covered under section 44ab(compulsory Tax audit)The e-payment means pay

Posted in Income Tax | 4 comments | 37056 Views

HOW TO PAY ONLINE INCOME TAX.

RAJAN GUPTA 01 April 2008 at 15:54

As you may know that income tax payment online would be mandatory from 1/04/08 (PRESS RELEASE HAS BEEN ISSUED BY CBDT READ THIS). As per press release and rule amended there after the following person are required to deposite Income tax online 1.Al

Posted in Income Tax | 2 comments | 37095 Views

Life insurance premium paid and claim u/s 80C

RAJAN GUPTA 27 March 2008 at 17:15

Important Pointshould keep in mind while claiming deuction on life insurance premium paid u/s 80C are given below: Deduction u/s 80c of income tax is available to Individual and Huf Assessee. Maximum total eligible amount under this head (LIFE insu

Posted in Income Tax | 5 comments | 23388 Views