sanjaymurarka
This Query has 5 replies

This Query has 5 replies

08 June 2012 at 01:14

Employees provident fund account

A person worked in a company ABC for about 8 years. He resigned from this company and withdrew all his dues including Gratuity, Leave Encashment, etc.
He joined company XYZ for about two months. Now he wishes to re-join company ABC. My queries are regarding the EPF contribution in company ABC.
1) Will the contributions be credited to the old EPF account he had in ABC, prior to resigning from that company?
2) Will he have to open a new EPF account once he re-joins ABC? In this case, he will have two concurrent accounts in the same company and he will seek to transfer the corpus from the old account to the new.
3) What are the tax implications of this whole exercise?
4) What are the legal implications of this exercise?
5) What do you suggest as the best course of action?



Anonymous
This Query has 4 replies

This Query has 4 replies

Hello All Experts,

I have one query regarding paying of tax to government.
I have changed my company in middle of last financial year.
Both firms form 16 says nil taxable income.

Now when i am aggregating both form 16 amounts to ITR 1, it shows me tax to be paid of 2000.
Now how to pay this tax to government?
Which challan 280 or 281 or any other to filed?

Any help would be appreciated.
Thanks in Advance



Anonymous
This Query has 1 replies

This Query has 1 replies

31 May 2012 at 14:03

Form 16

We have a common Director in two of our related companies. Now for preparing Form 16, whether we have to show the details of deduction u/s 80C/D, for the payment made by Director in both the companies Form No. 16 or only in any one of the company.

For Eg :

SAlary from Co. A : 540000/-
SAlary from Co. B : 540000/-

LIC : 85000
PPF : 5000

Now for preparing Form 16, Deduction u/s 80C of Rs. 90000/- would be for the companies or only in single company.

Thank you.

An early reply will be appreciated.



Anonymous
This Query has 6 replies

This Query has 6 replies

30 May 2012 at 16:37

Hra

Dear Sir/Mam,

I get a salary of 380000/-pa. & in the break down, i can tell u tht i am getting an HRA of 3041/-pm. Now if i want to show additional rent that i am paying in a rented house, how much can I declare upto? i mean how much can i get an exemption upto while calculating tax..



Anonymous
This Query has 1 replies

This Query has 1 replies

30 May 2012 at 14:05

Interest u/s234c,individual

For the AY2007-08,the advance tax due on 15th September,2006 was not paid.Some amount was paid on 16th December2006 which was,however, short of60% tax due on 15th December,2006.The IT office has charged interest for 3 months.,for December,2006;Jan 2007&Feb,2007 ignoring the amount paid by me on 16th December,2006.As interest for default is to be calculated on monthly basis,I am of the opinion that the amount paid on 16.12.2006 should be taken into account for the calculation of interest ,at least, for the months of Jan,2007&Feb,2007.
Kindly advice.


Chitra
This Query has 1 replies

This Query has 1 replies

We are facing problems while uploading Income tax return ITR-2.While filing return after login on website when we click upload button,following massage is reflected on screen:
"Expecting a value for the XML Element AsseseeRepFlg in the section PartA_GEN1 - Filing Status . Please check with schema."
We urgently want to file this return when i called Bangalore office,they silently paid attention to my query and then they cut the phone line.Please help me with this.



Anonymous
This Query has 1 replies

This Query has 1 replies

29 May 2012 at 18:48

Foreign tax

If a person is working on a Foreign cruise ship on contract basis, getting salary in Cash(USD) and some times he transfers the same in India through Western union. now My question is he wil be NRI for Income tax purpose since nt in india for 182Days and not liable to pay taxes in India, and he wants to file Income tax return in india NIL return.He may have other income in india also. Now what will be the amount in Indian Rupees for tax return filling purpose of the Income earned in USD.

Please Guide me what other provision for Income tax are applicable.


Ashish Sharma
This Query has 1 replies

This Query has 1 replies

25 May 2012 at 19:26

Credit of input service tax

Dear Sir,
i would like to know whether i can take credit of service tax paid for the services which i received. For example i am manufacturer and i am registered under the excise department and i am not registered under the service tax department.I paid service tax. Then how can i take credit of input service tax? What is the procedure
?



Anonymous
This Query has 1 replies

This Query has 1 replies

24 May 2012 at 22:23

Itr form-1

My father retired from Ordinance factory.Now he is getting pension. My query is in ITR Form-1, we have to give the name of the employer. But a retired person has no such Employer-Employee relationship. So whether is it right to name the Bank as Employer, from where the pension is withdrawing?



Anonymous
This Query has 1 replies

This Query has 1 replies

24 May 2012 at 20:56

Taxes for textile commission agent

sir,

i will like to know which taxes i have to pay for the current finaincial year. my supplier are asking that i have to pay professional tax + service tax and also have to deduct tds for the sub agent kept. i will like to inform that commission i receive have come after tax deducted so will i have to deduct t.d.s for commission to pay to sub agent






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