Respected Seniors,

Please give me some details about TDS/TCS
1.If employer deduct the TDS from my salary,can I claim against that

At the time of depositing tax(Rs.4000/-) in to bank, i quote wrong PAN*
& at the time of e-filing i quote correct PAN
then what is the procedure of rectifing the mistake?

*PAN which is not in the record of Income Tax.

04/01/2008


PL. GUIDE ME ABOUT DATE OF TDS DEDUCTION,TAX DEPOSIT,SUBMIT OF RETURN


harish

04/01/2008


PL. GUIDE ME ABOUT DATE OF FBT DEDUCTION,TAX DEPOSIT,SUBMIT OF RETURN


harish

When accomodation is provided by the employer and the same is charged to the employee, How the HRA will be treated?

And can the accomodation charges be shown as rent paid for exemption u/s 10(13A)?

Hi,

If a company reduces the number of its employees (Eg. may be from 500 to 400) in any financial year, Does it have any impact on tax front?

Facts of the case:-
1) "J" is an HUF as on 31/10/1978 engaged into trading of onions; which is partitioned on that date and existing immovable properties were maintained in the HUF; cash being distributed between J,(Mother) R, S and C(Sons){All unmarried sons}. There is no cash in hand as on that day with HUF.

2) On 1/11/1978 a partnership was entered into by R, S and C (Sons) for carrying out the business which was originally HUF business prior to this date.

3) On 28/04/1980 agri land was purchased in the name of Mr. R and S for Rs. 33000/- (within city limits)However, the sources of funds are not properly accounted for at that period.

4) The partnership was dissolved 31/03/1989 and consequently Mr. R and S are not filing their returns since they have no taxable income and have no PAN also.

5) Today, the land is to be sold and the proceeds are to be distributed among the brothers. Expected sales value is Rs. 3 Crore.

6) The question is how to account for the share to be given to Mr. C who is not owner of the land however, who has claimed his share since in his opinion the land is acquired out of the proceds generated through common source and hence he is entitled to the share of sale proceeds; all brothers have agreed to it.
What treatment is to be given for I.T. Purpose.

Please clarify the following

1. Whether Leave Encashment is taxable which is paid to employee at the time of full & final settlement on his resignation.

2. Whether Leave Encashment is taxable which is paid to employee at the time of his retirement.

Regards.

Manish Jain
mjain@lc.jkmail.com,manishambika97@gmail.com

Please clarify the following

1. Whether Leave Encashment is taxable which is paid to employee at the time of full & final settlement on his resignation.

2. Whether Leave Encashment is taxable which is paid to employee at the time of his retirement.

Regards.

Manish Jain
mjain@lc.jkmail.com,manishambika97@gmail.com

As per the IT act advance tax on FBT for the quarter ended december 07 is payable on or before 15 december07.
However as per ready reckoner of VG MEHTA the FBT Advacne tax is payable on 15th january 08.
Why the contradiction?
RElying on the ready reconer I have not paid FBT for the december quarter on 15/12/07. So what is the recourse for any? if any