WHETHER THE PENALTY WILL BE IMPOSED UNDER SECTION 271B OF INCOME TAX
ACT, IF THE ASSESSEE OBTAINS THE TAX AUDIT REPORT FROM A CHARTERED
ACCOUNTANT BEFORE 31ST OCTOBER, 2007 BUT IS UNABLE TO FILE HIS RETURN
(ITR 4 OR ITR5 OR ITR6) ELECTRONICALLY OR MANUALLY (AS THE CASE MAY
BE).

sir I have purchase a resdential flat with full and final payment by one chq .on 31/jan 2004. possesion letter and receipt of full and final payment is on 31/jan/2004.. my stampduty paid date is 27/feb/2004 and agreeement date is 27/july/2004.I have only one house.I sold it on 4/april /2007. to qualify for long term capital gain 36 months holding is require. in my case which date will be consider 31/jan/2004 or 27/july/2004.and I would like to know under which section or act of income tax my long term capital gain qualifys.

ARE WE LIABLE TO DEDUCT TDS ON MAKING PAYMENTS TOWARDS MONTHLY BILLS OF BSNL,IDEA, BHARTI ETC IF IT EXCEEDS RS. 50000 IN A YEAR.PL REPLY

in our company PF late paid 4 days in the month of aug'07
actual due date 15-08-07, but paid 22-08-07 in this regard, how much % of amount disallowed in income tax
PF total amount paid in the month of Aug'07 was Rs.597658/-

please send me procedure for calculation of disallwance in IT and how much amount disallowd with interest?

please sir urgent

The supreme court of India in the case of Arun Kumar has ruled that since their was no deeming provision w.r.t concession in the matter of rent hence Assessing officer can be refferd to assess whether any concession is actually flowing in case of concessional accomodation
The finace Act 07 has introduced the deeming provision in section 17 of Income Tax Act 1961 as per which concession shall deemed to be provided if employee pays rent equal or less than 7.5/10/15% of salry. However in Rule 3 of Income Tax Rules, their is no amendment and thier still exist rate of 15 and 20 % for valuation purpose.
In this situation please clarify how the valuation be done i.e rates given in Section 17 or Rule 3.

How much amount i can pay for my son's higher education. ok

IS FBT APPLICABLE ON THE PRE-TRAVELLING EXPENSES , PRE-BUSINESS PROMOTION EXPENSES
EXPENSES INCURRED BY THE DIRECTORS OF TEH COMPANY?

FURTHER WHAT ARE THE EXPENSES WHICH CAN BE SHOWN AS PREINCORPORATION EXPENSES

A Pharma company makes monthly payment to Docotrs in the name of Academic aid. The payment is Rs 10,000 to 20000 per month during full year. Is any TDS liability arises on this ? Is this type of expenditure allowable under income tax and if yes under which section. Is any case laws. The company has no supporting with regard to the expenditure actually incurred by the doctor on academic aid. If fact this type of payment in pharma industry is to give money to docotors.As an auditor under tax audit or in company audit what remark/observation to be given

i want to ask how the refund can be claimed on house perks received on unfurnished accommodation at a concessional rent. since the rates of the same has been changed. can we claim refund for the same for a.y. 2006-07 and a.y.2007-08.

My client is engaged in the business of processing of rice and wants to avail deduction u/s 80IB(11) on account of storage , handling and transportation of food grains such as rice