A person is an employee in 3 company and is in receipt of transport allowance of Rs 800/- per month from each company.In this case can he claim exemtion of Rs 800/- from each of such company.

Dear sir

Please clarrify me that if Son Paid CAR RENT to Father and use the car and father Shows car rental income in his income tax return
Can they do this as per income tax

Rajesh

if a payment is made to a Local Authority whether there is a need to deduct any TDS u/s194 or not. please send the reply as soon as possible.....

Dear Sir,

Please let me know how will avoid the maximum tax exemption and state sections and amounts.


Thanks in Advance.

I need clarification on whether profits earned on sale of alloted shares in ipo are taxable, i.e short term capital gain tax attracts on profit earned.?

Please help with any case if any.

my email id is : vikram_ranka2000@yahoo.com

Regards,
Vikram Ranka

Can I the details of Section 194I .

I want to know the rates and the period within which the same has to be paid.

in a central university covered under provisions of PF Act 1925 in general & section 8(2) of it in particular, can the PF Committee of the institution declare an interest above the govt. rate for the investments made in the PF? If it is so, should tax be levied on the excess interest?
(the specifics of the matter is as follows. actual returns for the financial year 06-07 work out to 12% while the govt declared return is 8% or 8.5%. )

i am discounting my bill of Rs. 50,00,000/- thru a private party mr.A and he is deducting Rs.50,000/- as a bill discounting and send me a Cheque of Rs. 49,50,000/- should i require to deduct tax u/s. 194A on rs. 50,000/- whether it covers under definition of Interest ?
so, my query is wheter i should deduct tax on charged debited to my profit and loss account under the head of 'bill discount'. in recent judgement of of Kanha Vanaspati Ltd..v.Additional Commissioner of Income-tax, Range-50, New Delhi, kindly clarify considering this judgement. the main problem is how can i deduct tax as i am not directly paying anything in form of bill discounting as the financer cut the same charges and then after giving me a remaining payment

Whether interest us 234a is payable after the extension of the return filling date for the AY 2007-08.

Dear Sir/Madam,

If a particular person is appointed as a employee from February 15 and a particular firm has obtained a deduction of professsion tax of a particular month till march 14 and after which the profession tax from 15th march to 31st March is not taxable is correct from the point of accounting and Income tax Act?
Please reply at the earliest?