Dear Expert,

Pls.let me know whether FBT is aplicable on staff room rent or not?



Regards,
Prakash Jasani

TCS is applicable on scrap generated through manufacturing activities. If a trader purchases scrap from Manufacturer/ Trader and sales the scrap to another traders or manufacturer, Whether TCS is applicable ? (as he is not the manufacturer of scrap)

In case where property is aquired by the inheritance then benfit of indexation will be available :

1. From the year in which present assessee aquired the property or
2. From the year when assests was actually purchased.

For e.g.

Year in which actual puchased : 1985
Year in which assets transferred to present owner : 2004

So we will take indexation for the year 1985 or 2004.

Please clarify the same.....

Sir,
I want to know whether subsidy received will be deducted from the Cost of the Assets while calculating Dep as per Income Tax Act.

Dear friends

as per circular 4/2008 tds on rental income would be deducting after excluding Service tax its means just only rental income so is this circular also applicable on 194j(proffessional fee)?


Thanks
Ca naveen garg

Can anyone please let me know the difference between TDS and TCS with respect to nature of payments , due date of payments to IT dept. ,rates, returns, issue of certificates like form 16A etc.

Thanks.

According to condition in 80G a charitable/religious organisation has to utilised its 85 percentage of income for charitable purposes in India.

However, it cand be accumulated upto next 5 years if the organisation gives undertaking to utilise the funds.

1. What if the organisation fails to utilise the funds? within 5 years.

2. If the shortfall amount is accumulated as Surplus Account (No separate head for Shortfall) can the organisation debit the surplus account and utilise the available funds during any finfancial years upto 5 years?

3. What if the organisation still has the shortfall in the financial year in question cna it be accumulated for next five years?

Thanks

How can an assesse claim the benefit of the HRA if the employee pays rent & get HRA from company but company deduct the excess tax as assesse has failed to give Rent Recept to Employer? How it should be claimed in ITR 1

Can an employee stay in a rented house and claim HRA deduction despite having his own house in the same locality?

Hi!

The Assessee has made payment of EMI of Vehicle Loan with interest and principal to Reliance Capital Ltd. The interest for the year exceed Rs 5000/- Limit. In such a case whether the assessee is require to Deduct Tax At Source(TDS) from such payment?

If not whether any exemption is given to Rel Capital Ltd.