Hi all,

Kindly resolve the following queries:

1. An employee (has taxable income) gives a written declaration to the employer stating that Tax not to be deducted from his/her salary for the time being until further intimation. Should the employer accept such declaration? Or the employer should ask for a certificate from ITO for non deduction of Tax or TDS at lower rate?
2. How TDS amount on Salary is to be calculated /determined by an employer?
3. Should employer release salary applying proportionate TDS every month or it can also be deducted during those months closer to the end of financial year (Jan to March)?
4. Is it obligatory for the employer to collect all the proofs/supporting documents/receipts etc. in respect of deduction/IT benefit claimed by an employee? Or only a written declaration from employee stating investment status is sufficient?

Please specify the related provisions of I.T Act if applicable to above queries.

Thanks in advance.

wdv of asset on 1/04/07 was 500000/- it was sold on 31/08/2007 afterwards another asset was purchased on 01/01/08, what will be its treatment on depreciation, shart term capital gain, and its wdv on 31/03/2008.

assesse was having a depreciable asset of wdv on 1/04/07 of Rs. 500000/-, in the current year he sold the asset on 31/02/2008 for 2500000/-, and purchased a new asset of same block on 01/01/2008for 1500000/-, so what will be its treatment in depreciation, short term capital gain, and wdv as on 31/03/2008. Block is not yet nil becasue of new asset purchased.

is income tax legally deductible for companies ? In real sense its not a personal expenditure of a company but its a personal expenditure of owners of companies, so is deductible for companies ?

payment of lip has been made from the bank of assesse, but the policy was in name of his wife, so can we calim this lip as deduction in her wife. Actually payment was made from the assesse's account, so is payment condition necessary for claiming the deduction.

assesse has not shown an asset in books of account while filling returns of earlier years, but he has sold the asset during the current year and has received payment through cheque, so now while calculatiing long term capital gains can he take indexed cost as the cost of acquisition ? can he do so ?

what is the procedure for cancellation of TIN

in quaterly vat return assesse has not used the input credit of captial goods, now its time of vat audit so can we claim the input credit on capital goods now ?

Sir,
If extra shift depreciation applicable for a particular fixed asset and it is running in double shift then in case of that machine running in triple shift for a particular period of time what rate should I take to compute depreciation calculation. please specify the same as I am facing the problem when calculating depreciation under Companies act

hi every one, im a CA Final (old ) student. I cleared my PE-II in nov. 2006. and regtd for articleship from 16 Aug 2007. i want to know when My 1st attempt for final shall fall due. is there any notification on 30Jun 2008 regarding Final Exam.(old Course) after complitation of one year articalship for students who clear PE II.