Is Fbt applicabe on vehicle hiring charges & under whice section and act

Plz clarify me the exclusion & inclusion of certian period for computing(captal gain) the period of holding of an asset.[Explanation 1(i) to sec 2(42A)].

Thanks

Hi friends,

Kindly bless me with your valuable advice on the following matter in light of the limited information available.

I would appreciate a quick and professional response from your side:

Facts :

An Indian Company - A ltd
Its sister concern in Singapore - B Inc

An australian citizen (Mr.X) is rendering services to B Inc.
He is on Indian payroll, hence his salary is being paid by A Ltd.

Issues :

a) Taxability of Indian Salary in India and Singapore?

b) What is the better option of paying salary to Mr.X ---- In his Indian account, if possible to open, or in his foreign bank account?

Thanks and regards

CA Ahmer Ammar

In case an individual sells his urban agricultural land and has capital gains, the same person also has a residential property and has bought another residential house a year ago. Can the second house bought a year ago be used to claim capital gain exemption?

hi,

ny query was regarding computation of income


A retailer having most of the transac tions on cash basis, retailers need to disclose round about 5% of the turnover. But can it be furnished if there is no bank statement to support all the transactions or is it the way it is done.

turnover is around 500000
5% comes to around 25000

but the income is around 90000 to 100000

Which is the way to go about

kindly advice...

Sir,
With the obsolescence rates of Mobile Phones coming down alomost every month, would still the depreciation rates for them are 15% only?
Is there any support of case law circular to claim more than 15% rate on them?
Since the cost of mobile phones themselves are some times less than Rs.5000, what is the view on depreciation and the value at which they should be carried in the balance sheet?
Is Rs.5000 criteria applies both in the Companies Act and the Income Tax Act?
Pls provide me answer keeping both the Income Tax act and the Companies Act

WE HAVE MADE ARRANGEMENT WITH A HOTEL TO PROVIDE 2 DAYS ACCOMODATION AS WELL AS FOODING @ RS 7500/- PER PERSON FOR TWO DAYS. ROOM RENT WILL BE Rs 1.50 LACS AND FOODING BILL WILL ALSO BE AROUND RS 1.25 LACS. PLEASE LET ME KNOW THE TDS APPLICATION IN THIS CASE EACH FOR RENT AND FOOD.DOES IT MAKE ANY DIFFERENCE IF HOTEL RAISED ONLY ONE CONSOLIDATE BILL WITHOUT BIFURCATING ROOM & FOOD CHARGES ? PLEASE CLARIFY

1) Mr X bought a plot of land for Rs. 28,000 on Feb, 1982.
2) He want to sell it for Rs. 6,00,000 during the month of Dec, 2007.
3) What will be the tax he liable to pay?
4) How can he exonerate from this liability? and he can do anything to avoid tax.
5) What are all the documents to produce before the Tax Authorities for buing, selling or otherwise reducing his tax liability?

1) An employer refuses to act according to the provisions of Income Tax Act in collecting tax from his employees, but repeatedly says that he should collect the respective TDS as per the circular instructions of his head querters and he is liable to obey only such intructions;
2) The said circulars are fully wrong in delivering the intructions regarding TDS without following strictly the provisions of the Act;
3) How can I advice him?

1) An employer collected TDS from his employee say on 28th September;
2) What will be the last date to credit such proceeds to the Central Govt Account in this instant case?
3) If the employer does not do do so due to any reasons, what will be the remedy for the employee? Will the employer be held liable for his act? If so, what are all the liabilities?