A company has purchased a car which is given to one of its employees for his exclusive use. Purchase price was paid directly to the dealer by the co. Car is registered in the name of the co. As agreed between the co and the employee, the co will recover the cost of the car over a period of 36 months in equal instalments without any interest. At the end of three years, the car will be transfered in the name of employee at Re 1/-. In this context I would like to know that whether the cost of the car which recovered by the co without any interest will be subject to perquisite valuation taxable in the hands of the employee?

Dear Sir,
Please clear my confusion about TDS to be deducted on Accounting charges paid ?

Dear Experts,

If we have taken consultancy from Foreign country and payment made by one Indian company to other Indian company by grossing up of TDS amount at Indian prescribed rate of tax and then that Indian company pays the amount to forging consultant by again grossing up of that amount.

I want to know is this process correct?

Rgds/-
Anil Jain

hi,
please help in finding whether TDS is to be deducted both on Incentive and commission paid seperately to agents of LIC under Section 194(d) or whether any seperate section is applicable for TDS on incentive,please Quote the relevant section,hope somebody will me out in this matter.


regards

vikas

Suppose one person have not filed his return of income for the FY 06-07 while his tax has been deducted by the employer for that year. He had filed his return for the FY 05-06.

Now what would be the legal consequences?
Will he be entilteled for the refund for the FY 06-07 because his Deduduted Tax was over his actual tax liability for that year.

Pls guide....


Thanks,
Abhishek

dear sir,
i could not pay the TDS for the last quarter of 07-08. i paid the said TDS on the 1st Apr.08. now my CA is telling me the entire amount of the transportation on which we can't pay the TDS will be disallowed and be added in the income.

on transportation of Rs. 1Lac i have to pay the TDS. now the CA is telling the entire Rs.1Lac will be added in the income not the TDS Liability which i could not pay.

please let me know what is the rule?

Dear sir,
1.i want to know when we have to deduct the
TDS on receipt of Bill or when we are making the payment to contractor. or which will come first.

2. TDS has to deduct on total amount of bill (with service tax) or without service tax.

Sir, We are executing pipeline projects of govt and awarding sub-contract of one part of work.We are using trasnport vehicle for transportation of material to works site. I want to know that TDs on transporation will be applicable either Contract rate or sub-contract rate.


Thanks.

If my maternal grand father gifts me a amount, will it be taxable ? He has already paid tax on this amount !

Or suppose, he has put my name on his WILL, and later if i get this amount, will again it will be taxable ? If yes, what will be the % slabs ?

MY GRAND FATHER HAD BOUGHT A PROPERTY IN GUJRAT IN YEAR 1965 FOR RS 40,000/-. TODAY WE ARE SELLING THIS PROPERTY FOR 60 LAKHS. CAN ANY ONE ADVISE ME HOW MUCH TAX HAS TO BE PAID ON THIS ? I HAVE BEEN ADVISED THAT THE VALUATION OF 1981 HAS TO BE ASSESED, IS THERE ANY WAY ONLINE, WHERE WE CAN FIND ITS VALUE ?

IS THERE ANY WAY WE CAN SAVE TAX ON THIS BY EITHER GIFTING OR ANY OTHER WAY ? EXCEPT NOT PUTTING IN GOVT NABARD SCHEME ?

OR WHAT SHOULD BE THE APPROX TAX ON THIS ?