IS THERE ANY CHANCE TO AVOID TDS ON COMMISSION AGENTS. WHETHER PAYMENT TO THEM CAN BE MADE AS INCENTIVES WHICH COMES UNDER SALARY CATEGORY. SUB BROKERAGE OF MUTUAL FUND AGENTS COMMISSION ARE EXEMPTED. A LEADING PUBLISHING CO. IS NOT COLLECTING TDS FROM THEIR AGENTS, WHO MAY BE LOW PAID AGENTS BUT COME ABOVE THE THRESHOLD LIMIT OF RS. 5000.THIS IS VIEW OF THE PAN NO REQUIREMENT OF THESE AGENTS.

A company provides Transportation allowance to employees which is exempt under Section 10 to the extent of Rs.800 P.M. in the hands of the employee. Whether the Company has to pay FBT on the transportation allowance given to its employees?

can any one provide case laws on setoff business losses from income from other sources?

WHETHER FBT IS APPLICABLE ON REIMBURSMENT OF PETORL EXPS. TO EMPLOYEES?

AND SPECIFY WHETHER ANSWER WILL DEPEND UPON PETROL USED FOR CAR OR SCOOTER/BIKES

what is the meaning of "fmv of the date on which option vests"in amendment in finance act
2007? word "vests" means- 1.securities offered or 2.option opted by employee

Dear Sir

Who is liabale for TDS on freight in following cases.

(1) A trader who is from Indore and dealing in grains and purchases grain from a station i.e. Kota and directaly sold Grains to Pune and bilty of freight is in the name of Indore trader. partial payment of bilty was made by agent of trader at kota and partial was made by trader of pune and recovered from trader of Indore.

My vendor has raised a invoice for a prior period Interest...will this be a allowable expense in my books...

Please guide me to appreciate the following wrt to the supramentioned subject
1. My employer is not adjusting Rs. 2 lacs i.e. the amount it has recovered from me in lieu of notice pay, in my tax computation. It contends that the same cannot be adjusted against the salary income accrued to me as per the terms of the employment. It says that the amount has been adjusted against the leave encashment and the salary for the month of Sept,07 in which i worked with them.

I have the following to submit as per the income tax act salary is defined as "
salary is the remuneration received by or accruing to an individual periodically for service rendered as a result of an express or implied contract".

Accordingly net inflows against the contract of employment is what should be brought under the ambit of tax and the total salary paid net of notice pay received should be used for tax computation. To simplyfy my observation, I want your opinion for a scenario where the employment contract outlines for a payment of 2 months basic pay to an employee in case he achieves his objectives by the end of the year otherwise the employee is responsible for paying 2 months basic pay to the company. In my opinion in the above scenario salary will be adjusted with 2 months basic pay in both scenarios i.e. in case of payment by employer it'll be added in the tax compuation of the employee and vice versa. Please help me because i am getting hugely impacted due to this stance of my employer.

2. Further, i want to check with you that will there be any difference in tax for me in case my present employer pays the notice period directly to my previous employer.

Many thanks for your thoughtful advise.

Our cliant is going to start a business of Oil Exporting, for this thay are purchasing a machinery of rs. 5000000 but our business will be set up after 2 or 3 year, can we claimed additional dep.?

If yes than in which year?

During the course of I.T.Asst.proceedings, if AO issues summons to third parties for confirming the transaction and such third parties fail to respond to summons, what shall be the stand of the assessee on account of failure on part of third parties