an employee is being provided with a 1800cc car with driver for both official and private purpose. the assessee pays for the running and maintainance for the personal use of the car..

QUESTION is ...... why it is not exempt in the income of the assessee..

IT is included in the income of assessee
in the book as motar car
(Rs 600+600=1200*12==14400)
plz reply

i ve doubt in payment of rent after deducting tds..actually im handling a company, company wants to pay rent to an individual, he is 75 yrs old..he is not filing income tax..he is asking us to pay rent without deducting tds..for this we said we wil issue form 16A nd u claim from it..he is not satisfied with it nd he told that he wil issue Form 60 to us tat indicates he is not an income tax filing assessee it seems...can we proceed with it or we have any better solution for this issue?..i don have any clear mind about that form 60, i ve heard it that form is only form 15G or Form 15H...

Leave Travel allowance of Rs 50,000 recd by an employee in the year 2006-07 (FY07)

Due to personal reason he couldn't go for travel but utilized the same amount in year 2007-08 (FY08) towards the economy air flight ticket.

What will be the tax implications for both the years as LTA is exempted twice in the block of fours year and it falls in the current block of 2006-2009.

A closely held private limited company was formed for manufacturing particle board. a piece of land was purhcased for the purpose however due to some reason the plan for manufacturing was dropped. Now the management decides to sell the land since it is fetching good amount. is there any tax planning that can be done so that amount is given back to shareholders and directors with minimum tax borned. The land now is a long term asset.

if a company pay some additional amount to there labours as bonus on the occation of any festival (say Durgotsav, holi etc.)over there additional wages, is this expenditure came under staff welfare and taxed FBT u/s 115WB(2)(E) or it is treated as festival celebration expenses and taxed FBT u/s 115WB(2)(l)

An employee staying in a rented house and paying Rs 12,000 as monthly rent to landlord and Rs 3,000 as monthly society maintainance charges to society directly.

So can this maintainance charges be treated as actual rent paid while calculating HRA exemption limit

Suppose life insurance taken in 2005 for a sum assured of Rs 1 lakh with annual premium of Rs 25,000.

In 2015 policy got matured and recd 5 lac from the insurance co. How much amount will be taxable in 2015 since the premium amount was more than 20% of sum assured ?

Secondly, had the whole 5 lac be tax free if in case policy was taken before 1.4.2003

An employee getting Rs 2400 as child education fees allowance for two children.

He is actually paying Rs 5000 as tution fees for both the child.

How much deduction can he claim u/s 80C

Non agri Land bought in 1985 for Rs 10,000.

In 2005, token money recd 10,000 but deal failed, so no refund of token money.

In 2008, land sold for Rs 3,00,000.

What will be the taxable Capital Gain for 2008?

a co.has sold one of its land
now my quest.is it has other lands in land block i.e w.d.v of land has not become zero bu deducting sale price of land sold
quest.
1.is land come under the block concept
2.since there are other lands also so is there need to pay tax on profit on sale of this land (like in case of depreciable assets no tax until block continues)
-----all lands r urban so need to consider that point
----- land is not treated as stock,so dont consider that also
plz reply
thankx