Income Tax QnA - Page No 10183

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CA Abhash

19 December 2007 at 11:37

tds u/s 194I

one of our client has taken photostat machine on rental basis from photostat shop, kept at place of client. the only consideration being paid is in the form of a fixed charge, say 0.25 piase per copy for photostat and the material being paper sheets is being fed in the macine by the client. my question is

1) does this attract tds under 194I as rent for equipments or u/s 194C as tds on contract.

2) if we fall in definition of rent u/s 194I, then if our liabilty does not arise due to payment does not exceeding 120000, then are we covered u/s 194C as residual section or there does not arise any tds liabilty in that case.

CA Anil Jain

19 December 2007 at 11:35

Education Facility u/r 3(5)

Free educational facility provided to the employee children --if iin a pvt. school bills are reimbursed by employer up to rs .1000/-month whether exempted perquisite?

and employer has top pay FBT.??on staff welfare.

CA Anil Jain

19 December 2007 at 10:39

Medical Reimbursement

Medical Reimbursement is exempted up to 15000/- to the salaried employee.But if he worked for 9 months in a F/Y whether whole amt of 15000 will be exempted or 11250???

CA Anil Jain

19 December 2007 at 10:34

Professional TAx u/s16(iii)

What is meant by Professional Tax?
Whethrt it is same as TDS u/s 194J?

CA Anil Jain

19 December 2007 at 10:33

Dearness Allowances

What is meant by DA (IF) Forming the part of retirement benefit.

shruti

19 December 2007 at 10:14

2nd Query! Income tax

this profit of 20-25 lc is the gross profit w/o taking into consideration any expenses.

pl adv if tax liability changes.

wat is MAT ?

shruti

19 December 2007 at 10:12

2nd Query! Tds on Ocn Frt and Stax

but xyz is forwarder. it only add profit margin on the ocean freight gvn by the s/line and quotes the same to the shpr.
how's it can be termed as a service ? plsss explain.
also he doesnt get any sort of commission from the shipping line. neither he provides any kind of service to anybdy.

pl adv.

sangeeta agarwal lhila

19 December 2007 at 10:10

bonus shares

what is the cost of aquisition of bonus shares

pankaj

19 December 2007 at 09:26

TDS on reimbursement to C & F Agent

At present we are deducting TDS on the total Bill of our C&F Agent - though some part of the Bill is for re-imbursement and further part is for commission.
Could we exclude TDS from the re-imbursement portion?