WHILE ACCOUNTING ASSET ITEMS BELOW RS. 5000
IS THERE ANY STATUTORY REQUIREMENT TO TREAT THESE ITEMS AS ASSET AS WE CAN SET OFF THE ENTIRE AMOUNT BELOW 5000/= IN THE SAME FINANCIAL YEAR AS EXPENSE. WHEN WE ARE ACCOUNTING SMALL FAN, PHONE OR OTHER SMALL ITEM IS IT NECESSARY TO TREAT THESE AS ASSETS AS WE ARE NOT CLAIMING DEPRECTION

Whether Gratuity and Leave Salary becoming due on the death of an employee is taxable in the hands of nominee? Please explain with reasons.

Dear All,

As per rule 26 of Income Tax Rules, the SBI's TTB rates to be taken for converting foreign currency.

Where to find SBI's TTB rate without going SBI (Foreign Branch) daily for getting the same.

Please reply

Thanks
AJ

TAN Number is Compulsory in case of Comancy

Some one receives claim under Motor Accident after 10 years and that also with interest. What is the position of taxability under the Income Tax Act for both claim and interest. Insurance Company has deducted tax at source on the interest amount.Please have your views

What are the facility on which FBT should be charged & what is the rate of FBT

Dear Sir,

Which ITR form I have to fill in case of Regional Rural Banks? Please guide me.

Thanks,

Nitesh

if an assesse fails to declare its investment before filing returns to its employee, no what he hold he do?
as we know that while filing new ITR form no document are attached to it, if he declare it in ITR then what is the proof that he has invested that much of amount

For a credit card manufacturing company, can the cost of acquired software be claimed as Reveneue Expenditure?

I am usually sent abroad by my company and I am paid per diem by the company, this is in addition to the salary which I get in Indian rupees and on the salary the company does TDS.

Sometimes the perdiem is paid in India in cash ( in foreign exchange) and sometimes it's paid abroad in cash. I save from this per diem allowance and which i take back to India and get it credited to my account.

Do I need to pay tax on this amount or there is any provision thru which I can save. I am in the highest tax bracket.