Dear All,

An Assessee has opened a PPF account in name of his daugher ( age 18 years). Whether he can claim deduction of PPF Deposit in name of daughter.
Please tell me asap.

Thanks & Regards

CA. B.K.BANSAL

Is motor car used for business & not as stock in trade & for hiring is chargable to wealth tax as per wealth tax act

Please its urgent reply me soon

Employee using Car for Travel to the workplace.Can employee claim exemeption u/s 10 (Petrol+Veh Maint) Rs 1200P.M(1600CC)Rs 1600(More Than 1600CC)+Driver Salary Rs 600 For the AY .2008-09 insted of General Transport allowance Rs 800PM

Dear Collouges,





Could you please, let me know on which basis we issue the C forms to vendor i.e. for how many C forms will issue for purchases for the month of Mar’06, Apr’06 and May’06.

Please clarify and if it possible code with Sections. It applicable financial year wise

Thanks & Regards:



CA RAMU

one of my employee has paid salary to her previous employer on account short notice period. The amount paid is significant. Her earlier employer has not mentioned that in her form 16
My query is :

Shall i considered that amount in his tax calculation?
If yes then under which section.

I am salaries person... My taxable salary works our to be Rs. 18000 thus the tax will be Rs. 1800 only. But i have incurred a loss of Rs. 10,000 from Share market (Short Term).....

My question is "what will be the treatment of short term capital loss while computing tax liability????""

1.Can i know what are the accounting entries for MAT Credit taken during the year along with the example and their effect in Balance sheet.

2.Whether the balance MAT credit is accountable/shown in balancesheet in which the MAT credit is utilised?

3.Whether the Provision of income tax is shown net of Advance tax and MAt credit taken?If no how it shown in balancesheet

Our company is paying lease rent on car taken on lease from ICICI Bank, but we are not deducting TDS on the lease rent. I want to know is there any TDS liability on the same. Is it make any difference that payments are being to ICICI Bank.

"A raised bill for his prof. service to B Ltd for Rs. 10000/- plus service tax @ 12.36%. Total bill amounts Rs.11236/-."

Question is that TDS liability should be drawn on which amount:

1. Rs. 10000/-
2. Rs. 11236/-

Whether TDS grossed up U/s 195A would be disallowed as income tax U/s 40(a)(ii)?