Will u Pls tell me whether the interest received for late payment on accident Compensation of MACT claim is taxable or not? I m aware that the compensation is exempt in the hands of legal heirs but pls tell me the taxation effect of Interest recd. on the same in the hands of legal heirs of deceased. the client wants refund of TDS deducted on the said interst

Thank you

Is it the responsibilty of the employer to vouch the correctness of information regarding savings given by the employee in his TDS declaration?

Is there any recent case law regarding this?

hy
my clint(pvt.ltd. company) is processer and trader of seeds items. he guide to former in that how the seeds grow in good quality and he expensed rs.700000 during the year 2007-08 and treated it sales promotion expenses.
is he liable to pay FBT ? if yes can we change its group in which FBT NOT LIABLE ?
pls reply me

CA MOSAM SHAH

Hello Experts. I have two queries .
1.It is said that FBT is applicable only on expenditures which are allowed by IT Act.If one particular expenditure, which attracts FBT has been disallowed on the grounds of non deduction of TDS, then what will be the tax implication with regard to FBT? If the assessee claims the abovesaid expenditure next year by duly remitting the respective TDS amount, will there be any chance of paying FBT on the same as FBT was not applicable last year due to disallowance?
2. If an employer pays the income tax of his employee, will this be regarded as a perquisite and taxed in the hands of the employee or will the employer be liable to pay FBT on this amount?

sir
my company doing construction of roads
company pay cash to its workers morethan rs 20000 on one day it is allowable
and it is laiable to deducte tds

Disallowance of expense - in case TDS is not deducted and the amount is carried forward in inventory.
What would be the effect of the amount which ought to be disallowed

A company fail to book TDS receivable from party and file his return for that year, during the subsequent year he got a TDS certificate from the party and want to adjust the same during the subsequent year against IT of that year.

my company sale mutual funds with sst.
comapny laible to pay tax @ 10% on sale of mutual funds
if sst paid whether it is shortterm capital gain exampeted or not

Whether TDS is applicable on water supply services?

Hello,

One of my friend has 2 Bars on annual rent, whether he has to fill the annual return for the both the bar and personal return also.