Since perk value has been reduced from 20% to 15%,10% & 7.5% depending on the population of the place- Whether a Company can take perk value of 10% for Ranchi which have less than 25lac population and what would be the
conditions of Lease. In all cases, employee gets a house on lease from
company and full rent is paid by company without any amount from
employee. Whether new perk
value will apply only if employee pays some part of rent or new perk
value can be taken even if full lease rent is paid by company.

If employee has to pay part of rent, is there any way for an individual to
take lower perk value for previous FY 2005-06 and file revised return as company cannot make any deduction now. If this rule is applicable, company can start deducting some token amount
from employees for current year. Your suggestions on same, pls.

I shall appreciate if you could reply as early as returns for FY 2006-07
have to be filed before 31.07.2007.
Thanks & regards

For calculation of FBT on Vehicle should insurance on Vehicle be included for A.S. year 2007-08

1. IN F.Y. 2006-07 MY SALAY INCOME AND INCOMEE FROM INTEREST ON NSC I CAN FILE MY INCOME TAX RETURN IN FORM ITR-1 OR ITR-2.

2. ONE OF MY FREIND HIS SALARY INCOME AND LOSS FROM HOUSE PROPERTY( INTT ON HOUSING LOAN) WHICH FORM HE FILE HIS INCOME TAX RETURN ITR-1 OR ITR 2.

can any budy give me a best salary break that reduce the tax libilities in both side i.e. from the employer and employee

Scenario:
1)Will get Salary in India and for the same amount will pay tax
2)As we are having Valid Work permit, Even we will pay tax in Poland for certain amount
3)Will get perdiems and perks in abroad

Query:
1)Can we open NRI account
2)If we can open NRI account, can we remit our savings, If yes is there any tax implication
3)Is there any tax implication if the company transfers perdiem from foreign account to our NRI account
4) As we are paying Tax in India and also in Poland, Is there any better way to handle funds with out any hassle.

Dear sir,

A company deduct excess TDS amount from a employee salary. But before paid such amount in the Central Government A/c, the employee found that TDS has been deducted as excess and demand the company for refund and the company also refund the same. now my question is whether excess deducted payment can be refunded to employee? plz explain.

Please guide how the value of rent free accomodation provided to employee by the employer is to be made.

I came to know that the slab rates of 7.5%, 10% and 15% based of population of the city (upto 10lacs, 10-25 Lacs and above 25 Lacs) has been introduced by IT department with retrospective effect.

If it is so please provide me the copy of notification/ circular in this regard

Hi Sir/Madam,
i need clarity regarding the below aspects:

1)Set off and carry forward in case of loss from Discontinued business in -
a)Few yrs back
b)Current yr
2)Will the answer remain the same if the business was carried by their father and discon.... in his life time.

3)If bad debts are recovered pertaining to the dis... business can the same be used to set off and carryforward against other business Loss.

what are the grounds of diffrence between a person making investment as a shareholder or otherwise (as a businessman).
How can we prove that we are making investment in shares as a shareholder so that profit on sale of shares is chargeable @10% instead of slab rates.

Can anybody tell me that if no tds has been deducted for salary & other than salary, then is it required to file nil tds return.


Thanks

Pawan Narang