A Pharma company makes monthly payment to Docotrs in the name of Academic aid. The payment is Rs 10,000 to 20000 per month during full year. Is any TDS liability arises on this ? Is this type of expenditure allowable under income tax and if yes under which section. Is any case laws. The company has no supporting with regard to the expenditure actually incurred by the doctor on academic aid. If fact this type of payment in pharma industry is to give money to docotors.As an auditor under tax audit or in company audit what remark/observation to be given

i want to ask how the refund can be claimed on house perks received on unfurnished accommodation at a concessional rent. since the rates of the same has been changed. can we claim refund for the same for a.y. 2006-07 and a.y.2007-08.

My client is engaged in the business of processing of rice and wants to avail deduction u/s 80IB(11) on account of storage , handling and transportation of food grains such as rice

Is Expenditure on increase of Authorised Share Capital before the commencement of business allowable expenditure u/s 35D of IT Act 1961 ??

Amarjeet
9911011042

DEAR

ONE OF OUR CLINET INVESTING IN SHARES THRO IPO BUY SELL IN SECONDRY MARKET , IF THERE INTRA DAY VOLUE ARE OTHER THAN 40 LACS IN RUPEE

IT IS NECESSARY TO DONE TAX AUDIT OF THEIR BOOKS OF ACCOUNTS AS PER NEW IT NOTIFICATION.


SANJAY

Whether sitting fees payable to directors falls under TDS provisions. If yes, under which Section of IT Act. Whether under 192 or 194J. If it is under above sections under what circumstances. Please substantiate with circular or judgements etc.

case : Owner co(telecom)shares its site with anothe telecom co. & the another co. install additional equipment for it smoot functioning.

Q Under which section TDS is attrected for site sharing & renting its space for additional equipment & at what rates.

Sitting fees received by Directors ( Nominee directors and Whole time directors ) is taxable under the head "Income from other sources " for nominee directors and under "Salary" for Executive / Whole time directors.

Am I correct ?

If we fail to deduct TDS for the monthly telephone bills and pay TDS within the financial year, whether the telephone expenses will be allowed as business expenditure for that financial year ?

Please clarify.

In a development agreement between builder & co-op housing society

Where the builder for developing of the building shall use the extra FSI and sell the same after giving each member of the society a flat who carpet area shall be 24% more than the present carpet area.

A sum of Rs. 500,000/- towards enhanced property and municipal taxes for their respective flats and inconvenience and hardship caused

A sum Rs 500,000/- to each member as rent for accommodation during the period of construction of the flat.

What is the liability to Income Tax
1) In case of extra carpet area received .
2) Amount received for future enhanced property ,municipal taxes and inconvenience caused.
3) Amount received as rent for accommodation during the period of construction of the new flat.