can anybody explain abt protective assessment

hi,
a herbal product company has given diwali gift to doctors (gift in kind, not medicines)
the expense has been treated as sales promotion expense

plz tell me,
can it be taken under sales promotion as per FBT?
How is sales promotion and gift differentiated?
or
will the expense fall under Festival celebration expense?

one of educational trust are not filing return from the f.y. 01-02. and they had taken Pancard in this year. They wanted to file I.T. Retrun. From which F.Y. they can file return? what is the procedure for filing the return ? pls guide in brief as from which year i can file return and which return form fill, specify the income tax return form s?

Our banker selected an professional association to valuate our property for granting Loan to us. Bill of Valuation is given to our company.
We have deducted and deposited TDS at the time of booking the Expenses. But demand is not raised by party. Whether we should reverse the Exp. or wait & look for Time-Barred-debts.
By how much amount we should book the Exp. while in earlier loan taken by same bank no bill raised in this respect.
We are suspecting, bill may be fraudy or raised to our bank as well as to our co. simultaneously.
Plz. help me out . Thanks in Advance

a person living in Indore. In Accounting Year 2007-2008 total Salary is Rs. 253000/- (Only Salary). he is not getting house rent allowance from his co.
He is paying Rs. 2700/- per month for House Rent. Total Rent in Accounting Year Rs. 32400/-. I want to know that what will the figure of H.R.A. for Deduction in Income Tax. & how to calculate it. , please help.....

Hi friends,

can you explain the average rate of tax calculation in case of salaries along with a illustration showing month wise deduction.Usually companies will deduct tax by dividing total tax with no. of months.i want to know where we will get difference.
Definitely later will result in some lower deduction if any incentive is paid during the year(particular month)
Pls explain me.

espected members

please give me slab rate of PF and PT.

also provide to me regarding what things include in term "SALARY".

regards
sm makwana

respected sir
Will u please explain me definition of "Income" as per Income Tax Act

A land was purchased for Rs. 700000. After one and half year later he sold that land for Rs. 1200000 and there is a STCG on land. how can we save tax on that. help me?

Dear All,

If anyone could tell me what is the rate for calculating the perquisites amount on salary towards rent free accomodation provided to Director of the Company.
In our case, we have taken accomodation on rent for Director. Please confirm if the rate would be 20% or 15%.
In the Vinod Singhania's book, it is mentioned 20%, however on Income tax site it is 15%. If it is 15%, then by which Circular, the rate is decreased or fixed at 15%

Regards,
Umesh Mishra