One of our employee was gifted apple product for success of project, he was informed to purchase any apple product of his own choice for INR 100,000 and get reimbursed, please let me know tax consequences of that gift in had of employee i mean responsibility of employer while giving that reimbursement.. whether it should be taxed as perquisite @ employees Income slab rates or as gift tax @30% on INR 100,000 & pay balance INR 70,000...quick revert will be more helpful.

can anyone help me or can provide some information regarding this matter?

Accounting methods/principles, taxation compliances of- (in India)

1) Mining industries
2) Textile industries
3) Infrastructure industries
4) Construction Industries
5) Agro industries
6) Financial service providing sector/industries and,
7) Government entities.

Hello,i am MBA finance candidate.I am married women & i wanted to balance both my career & my famiy.I am facing some difficulties in getting job.So please suggest me such a career path through which i can give attension to my family as well as my career.

my self is a director in one of the company and i want send my son for higher education abroad for which i will bear around 20lakhs can i show it as a scholarship or as a fees towards training programme in the boooks of my company. My son is also director in this company who is getting salary of rs.20000/- per month. please suggest.

What will be employee's & emlpoyer contribution to EPF?

Employees Basic salary is 24000 per month.
will his contribution calculated on 24000 or 6500 further it goes to epf and pension fund.

I HAVE COLLECTED SERVICE TAX AMOUNT IN NOV 2012 FOR THE PERIOD APR TO SEP 2012, HOWEVER I HAVE REGISTERED FOR SERVICE TAX IN SEP 2012 ONLY.

SO MY QUERY IS WHETHER TAX IS PAYABLE ON AMOUNT PERTAINING TO BEFORE REGISTRATION OR NOT. KINDLY EXPLAIN

Sir,
Please let me know the taxability of one residential house subject to exemption of section 5 (vi), if I own only one residential house?

Dear Sir,
Recently we have made a payment to Customs through the ICEGATE site by online; bank challans are generated. But later we found that the amount was not credited to Customs. But from Bank we to know that they debited the amount accrodingly. We also take help of Customs Online. But no result yet has been come. On the other hand Customs refuse us to clear the goods. Please help.

we have three company which is pvt ltd and three director. all director have shareholding in every company. and with in every company we have internal cash & bank transaction.is all transaction comes under deemed divided and tax liability arise from this inter company transaction. plz advice sir....

As per section 80TTA inserted w.e.f. AY 13-14, provides deduction upto Rs. 10,000 in respect of income by way of interest on deposits (not being time deposits) in a savings account with - (one of them being) a banking company. Now "not being time deposits" means "Fixed Deposits". Would "Recurring Deposits" also fall under "time deposits"?. If yes, then it means, in a layman's language, only interest on balance in bank savings account is exempted from tax upto Rs. 10K.