Dear all,

please advice me on whether Food Plus Cards issued to employees are liable for exemption under Income Tax Act? if yes, then under which section??

Thanks & Regards

Davison Mathew

please explain the term Lineal ascendant of an Individual in the view of taxability of gifts as per Section 56? will the term 'Lineal ascendant' include father and mother of mother i.e. grand parents from mother's side? in short, will Grand parents from mother's side of an Individual be termed as Relative for the purpose of taxation of gifts as per section 56? if there are any case laws or decided judgements or articles , please refer?

Dear All

I am a employe in UTRAKHAND & here there is a income tax exemption for 10 Year. My Problem is :-

1- Will i deduct TDS on Labour jobs bills

A- Labour job bill received from Trader Uttrakhand (Income tax exempted unit)

Hi,
If an assessee has two houses, one is self occupied and other is rented. Assessee has taken house loans for both the houses seperately and the interest payment in aggreggage exceds Rs 150,000.00
Please advise
Is
(i) Assessee can claim interest for more than 150,000.00

Dear ALL

Please define me

What is the deffered tax liability/assets,How is accounting of that

MY MATERNAL GRAND FATHER WANTS TO GIFT ME A CERTAIN X AMOUNT. CURRENTLY HE IS HOLDING THE AMOUNT IN THE BANK FIXED DEPOSIT, WHICH STATES HIS NAME FIRST, SECOND MY NAME. HE HAS ALSO MADE A WILL THAT THESE AMOUNTS SHOULD BE GIVEN TO ME. IS THERE ANY THING WHICH CAN BE DONE TO SECURE THIS MORE FROM ANY FURTHER CLAIMING BY HIS OWN SON ?

HE HAS ALSO SIGNED LETTER STATING THIS THESE ALL SHOULD BE CONSIDERED AS GIFTS FROM MY SIDE AND NO ONE HAS ANY CLAIM OR RIGHT ON THIS.

ALTHOUGH I HAVE ALSO MADE A GIFT DEED OF THE SAME TOO. BUT I FEEL THAT THIS IS CONTRARY, AS CURRENTLY THE AMOUNTS ARE NOT GIFTED, IT WILL BE AS PER THE WILL. SO DOES THE GIFT DEED STANDS VOID ? IS MAKING THE GIFT DEED ALSO WISE ?

MY QUESTION IS : IS THERE ANY MORE DOCUMENTATION REQUIRED RATHER THAN A WILL ?

IS THIS MUCH EVIDENCE ENOUGH IN MY FAVOUR TO GET THE DEPOSITS AFTER HIS DEMISE ?

I LOOK FORWARD TO YOUR EXPERT REPLY.

If a person has short deducted the TDS, but has paid the TDS that was short deducted but again the interest was not applied properly, which is required the calculate @ 1% p.m. or part thereof for the period of delay. How shall we treat the short payment of Interest in this case.

What is the due date of filing of revised E-TDS Return for F.Y 2006-07 and 2007-08.

r we required to make e payment for tds also in case of company

also if for april n may if paymaent had been made by deposit of cheque will it have any consequences

TDS rates when the deductee is Firm or Company:

TDS provisions tell that the rate of TDS inclusive of surcharge shall be applicable when the payment or credit exceeds Rs. 1.00 Crore during the F.Y.?

Now whether the payment or credit as said above shall be the payment or credit from the payer only or the total receipt of the deductee

Which shall be considered for Tds purpose?

Thanks & Regards
CA Rohit