As per Section 15 of Bonus Act, if allocable surplus exceeds the amount of maximum bonus payable to the employees in the establishment under section 11. the excess shall, subject to a limit of 20% of the total salary or wages of the employees employed in the establishment in that accounting year , be carried forward for being set-on inthe succedding accounting year .

I want to know that

what means about Total Salary or wages of the employees - whether only basic or total salary including benefits & perquisites.

If company is already paying 20% bonus then also the same amount shall be c/f .

Please tell asap.

Thanks & Regards

CA. B.K.BANSAL

A public sector company has acquired a huge land from the state govt., where the company has set up its plat, staff quarter,recreation club & park,guest house and others. Keeping to the various provision laid down in the income tax act,any body can explain the applicability of wealth tax act for calculation of wealth tax on such industrial land those have already used for staff quarter , guest house and those have remain vacent for future development.

WHAT IS THE ACCOUNTING TREATMENT OF CONVERSION CHARGES AND COMMISSION CHARGED BY BANK FOR CONVERTING THE RUPEES INTO DOLLERfor payment to creditor FORM WHOM WE PURCHASED THE NEW ASSETS FROM OTHER COUNTRY ( IMPORT )

can TDS be deducted on commission agent services provided by a non-resident out-side india ? explain related provisions of Income-tax Act,1961.

Employee leasing his own hosue to employer. Employer provides same house to employee as CLA. Is this a tax evading technique? Tax officers are treating this as a method of tax evasion - How ?. Employee is offering the rental value as Income from house property and inturn the CLA value is also been taxed as perq. Interest on loan is alos claimed as deduction U/s 24.

Friends,

How to calculate 234 B incase of part payment of Self Assessment Tax?

Pls explain with an Eg.

Arun Dongre

Dear Sir,

i have received one invoice for Calender Printing for Rs.110000.00 on which vendor claim CST @4%(without c form).

shall i deduct tds at the time of payment or not & why ?

Please help me.

Indian unit of International Doctors Association is organising a International conference for which is collecting registration fee from its members in India and abroad. They may also receive grant or fund from International Association in this regard, but they are not yet sure. My query is;

1. To organise the conference, Indian unit has to pay rent for equipments to be hired (like furnitures, conference hall, hotel rent etc,) professional charges, travel agents etc. Do they need to deduct IT, if the payment exceeds the limit for TDS?
2. What is the status of the association? Is it AOP?
3. Do they need to file return of income?
4. What to do, if there is any excess of income over expenditure or vice versa?
5. Does its books of accounts are to be audited U/s 44AB Income tax act, 1961 if the gross receipts exceeds Rs. 40lakhs?
6. If you have any suggestions, please suggest

when a associate will be treated as permanent establishment even though the service rendered by the foreign company does not have any connection with the service rendered in outside india

what is the tax implications on the Salary received from United Nations? I have seen Circular No.293 dt10.02.1981, in that it say the pension is exempt from Tax.