hi,
i had joined a ca firm at 22 feb 2006. i have been taken transfer from said firm at 22 june 2008 with total leave 156.

as per institute latter,my total EXCESS LEAVE till 22 june 2008 is 41.

therafter i have joined a company at 1 july 2008 as industrial training.

please suggest me that when my training get complete. am i eligible for industrial training as minimum number of period for IT is 9 months?

Dear Team,

If an assessee has filed his income tax return for assessment year 2004-2005 and 2005-2006 before due date in the past and declared his income u/s 44AD @ 8% on his gross receipts and came to know today he had not undisclosed some receipts in those returns, can he file revised return for these assessment years today. Please confirm.

Also, he had not filed the returned for assessment year 2006-2007 and 2007-2008 till now. What would be time limit to file the income return for these assessment years and can he incorporate the undisclosed receipts for previous years in AY 2006-2007 return?

Please clarify and revert.
Thanks & Regards,
Milind Telawane

I have filed my client's returns for Assessment year 2007-2008 electronically and claimed refund in the return. but no client has received the refund yet.

What shall I do so that my clients can get the refund as earliest possible.

Please advise????

Land own by a familiy

Leased out a trust on a nominal rental charges,

Can trust build up building on that and show in its balance sheet, can we do some agreement betweeen the owner and trust for devleopment of building without any consideration.

Can trust give some part of the building to its associated company to run day to day business if so what agreement is required.

Can we do cash less agreement between trust and its associated pvt ltd., company in liew of some services provided by its associated company to the Trust.

the main issue is - can we do cash less agreement

Can a NRE be a director or trustee???
Asking from ROC point of view

Do we need to complete some specific requirement as per company law.

kindly advise.

TNG is a Company and one of its businesses is conducting training sessions to new recruits for another company BFSI. As part of services offered, TNG arranges for lodging and boarding facilities for BFSI’s new recruits, as most of them are outstation candidates . TNG also provides for their local conveyance when they are commuting from Hotel to Training venue. TNG does not get any separate reimbursement of the expenses from BFSI as TNG has to pay as per terms of Contract. Can any one kindly clarify the below.

1) TNG proposes to charge the lodging and boarding expenses, Conveyance charges to either “ PROJECTEXPENSES” or ‘TRAINING EXPENSES” in TNG’s books of account as the recruits are not its own employees but those of its client BFSI. This also enables TNG to avoid Fringe benefit tax. Is this OK?
2) In this connection will BFSI ‘s FBT liability be nil as the expenditure is incurred by TNG.
3) Will the Department insist on either of TNG or BFSI paying FBT as BFSI’ Employees traveling and Lodging/Boarding is involved.
4)The whole idea is to avoid paying FBT

1. Can a NRE earned income in India through a rental income, as of now he has not file any Tax return, he doesn't have PAN ##.

2. Can NRE authroized her mother to collect the income on her behalf in cheque in her favour (Mother favour)and pay tax on that.

The total income is 1 lac per year.

kindly advise.

We are a a proft making Company for the past several years, without any accumulated losses. Our core business is HR Consultancy from which TDS is deducted at the rate of 11.33 % and comes to around Rs.150 lakhs for the year 2007-08. However our tax liability is around Rs. 40 lakhs only . This situation is likely to continue for next couple of years, with the prospect of huge amounts likely to be locked up wit IT department while the Company starves for Working capital.

Is there any way that we can avoid this situation and get permission from IT department for a lower rate of TDS to be recovered. Can anyone suggest a way out.

The employee visits to a Hotel and makes the payment through the corporate credit card issued to the employee. The company further in accordance with the due date of the corporate credit card makes the payment on the Credit Card. Is the company liable to deduct TDS on this. if yes at what rate. Supposing the amount involved is more than 20000.

If Advance FBt is not paid throughout the period for 2007-08. And the fbt liability is Rs 1,00,000 for the Financial year 2007-08.
Then how the intt. would be calculated under Sec 115WJ(3). Note that I am suppose to pay FBT plus all Innt. in this September 2008?
Kindly give the FBT liability along with Interest?Please give the detailed workings?