Hi,

If a Company purchases some furniture say 1 executive chair costing Rs 4000/-. Will this need to be capitalized as per either Companies Act or Income tax Act.?
What if there are 10 chairs purchased in single bill totalling an amt of Rs 45000/-?

What if it purchases 10 chairs of different dates via different 10 invoices of Rs 4500 each?

Experts pls keep query OPEN after your replies to let other also to comment.

An employee receives Salary from his employer which does not include any component by name of Medical or LTA but can he still claim Medical benifits upto 15000 and LTA expenses as per IT rules while filing his ITR?

A Civil Engineer working in Construction Co. receives the cheque(Amounting Rs. 22,000/month after deducting Professional Tax)from the co.(and sister concerns)against the salary .

However Tax is not deducted. Now the employee has to file return of Income.But he won't receive Form 16(which is quite obvious)from the company nor the company provides monthly sattement giving the break up of salary(basic,conveyance allowance....)

If the Income is calculated based on the salary breakup specified in the appointment letter,is it valid?

If yes, is there any need to submit any proof along with the return?

Dear Friend.

Do you know FAMILY TRUST, WHATS BENEFIT THEREOF & WHATS FORMILITIES TO BE COMPLETE.

Please any one knoe this then replay ASAP.

Regards,
CA Radhesham M. Bhutada
9822890980

Please clear last date of IV th quarter return in case of TCS and Payment to non residents before 31st march-2009.


Please treat it urgent.

Mukesh

Whether Monitory limit prescribed u/s 44AB (a) & (b) i.e. Rs 40L & 10L respectively is businesswise or assesseewise.
(ex an individual having several business which individualy below the limit and cumulatively crosses the limit)
Any circular, notification, caselaw etc for this issue

Please inform the process of surrendering of a PAN.

A,B and C are brothers and they have purchased some properties in 1966 and lateron there was a partition between them in 1982 and specific properties came in the name of A . A died in 2006 and the specified property related to A has transfered in A's Son and son has sold 3 floors and residing with his family at ground floor during 2009 - 10 . What are the tax implications under capital gain tax and what can be best planning to reduce the burden of tax ?

Sir,

Our supplier raises invoice and charges frieght on the same invoice.
should we duduct TDS or not. if yes on what amount.
Please answer it keeping in view circular No. 13/2006 related to contract of Sale if applicable here

Thanks in advance.

If by mistake wrong TAN is mentioned in TDS challan No. 281, and the same is paid in Bank manually (NOT E-payment), whether it is possible to rectify the mistake in the said payment. If No, what is the remedy ?? Please guide.