we are in air hostess training services, in the month of feb and march we did udaan activity in which we collect rough data from the school and colleges than we give the rough data to a IT company for converting in to final data from which we can call the student from april onwards from this we received the business which generate revenue in comming year.
my query is that whethwe we can deferred the exp incurred in collecting the data in the month of feb & march.to the period in which we generate revenue from this activity. pls give some supporting evidence for ur reply of the same such as any AS, Section , Case Study , Guidance , so i can discussed with my boss

if a company pay some additional amount to there labours as bonus on the occation of any festival (say Durgotsav, holi etc.)over there additional wages, is this expenditure came under staff welfare and taxed FBT u/s 115WB(2)(E) or it is treated as festival celebration expenses and taxed FBT u/s 115WB(2)(l)

An employee staying in a rented house and paying Rs 12,000 as monthly rent to landlord and Rs 3,000 as monthly society maintainance charges to society directly.

So can this maintainance charges be treated as actual rent paid while calculating HRA exemption limit

Suppose life insurance taken in 2005 for a sum assured of Rs 1 lakh with annual premium of Rs 25,000.

In 2015 policy got matured and recd 5 lac from the insurance co. How much amount will be taxable in 2015 since the premium amount was more than 20% of sum assured ?

Secondly, had the whole 5 lac be tax free if in case policy was taken before 1.4.2003

An employee getting Rs 2400 as child education fees allowance for two children.

He is actually paying Rs 5000 as tution fees for both the child.

How much deduction can he claim u/s 80C

Non agri Land bought in 1985 for Rs 10,000.

In 2005, token money recd 10,000 but deal failed, so no refund of token money.

In 2008, land sold for Rs 3,00,000.

What will be the taxable Capital Gain for 2008?

HI!!!!
Well we have been given a project on ITT on any industry(eg. construction, IT, steel etc....)
Well I wanted to know whih one to take and how to get information about it pls i need desperate help of somebody as it contains 100 marks.
i will be highly grateful.
I will be grateful if u could send me an email to somaniaditya@indiatimes.com
regarding the same..

a co.has sold one of its land
now my quest.is it has other lands in land block i.e w.d.v of land has not become zero bu deducting sale price of land sold
quest.
1.is land come under the block concept
2.since there are other lands also so is there need to pay tax on profit on sale of this land (like in case of depreciable assets no tax until block continues)
-----all lands r urban so need to consider that point
----- land is not treated as stock,so dont consider that also
plz reply
thankx

My client had paid cash Rs. 3,00,000 on the same day to the single party. But he got receipt of cash payment, which is lower than 20,000 in each case. The receipt of cash payment are serially numbered and are all the receipt of payment are on same date. Is this cash payment is disallowable under section 40A(3)for the financial year 2007-08 relevant to assessment year 2008-09.


Please specify whether this payment of Rs. 3,00,000 will be disallowed or not in the assessment year 2008-09?

Sir,

we are the manufacturers of paints for MNC on job work basis.They pay job work charges on monthly basis after deducting TDS u/s 194C.It is OK.
Occassionally, we utilise our CENVAT credit on capital goods for payment of excise duty on manufacture of paints for MNC on job work basis.

They repay such amount seperately to us.But they insist to deduct TDS on such payment U/S 194C stating that Sec.194C covers any sum paid to contractor irrespct of nature of payment.

We oppose that such payment is not in perview of that section as the payment is not under contract in persuance of a contract for carrying out any work.

Please clarify whether we are correct or not.

Javahar