i am receiving rent from reliance compan y for giving Terrace for fixing antina for network. my doubt is in which head rent include for income tax canculation .

we have a company and there is one subsidiary of this. parent company has made payment through account payee cheque payble to a land owner for purchasing the land in the name of subsidiary company. Is this book entry in the books of parent company as loan given and in the books of susidiary company as loan taken is against the section 269SS of income tax act

Q1) kindly explain the consent of Employer- Employee Insurance and also highlight the relevant sections of Income Tax Act 1961 applicable for:-


a) Tax Exemptions in Employer- Employee Policy.
b) Fringe benefit Tax is applied?
c) Assignment
d) Maturity/ Death proceeds after assignment

Q2). If assignment of Employer Employee Policy is done to the employee just before the end of 3 years how will that be possible as the surrender value for the first three years is nil as per the policy term but employee purchase the policy on Guaranteed Surrender value.

The employer –employee policy shall have surrender value of the first three years premium have been duly paid. So can one assign the policy just before the premium payment of 4th quarter of third year? How will the whole arrangement work out, especially in the terms of surrender value, please explain?

Q3. If the assignment is made for a surrender value, would the Surrender Value is taxable? And in whose hand, the Empolyer or the individual.

Q4. After the Employer- Employee policy has been duly assigned, what shall be the scenario now:-

A) Who would receive the death claims, if accurse and would be same tax free?
B) Would the maturity proceeds do the Employee who has been assigned this policy and would the same be tax free in his hand?

Please send me your opinion as soon as possible.

what is the limit above which revenue stamp must be put on cash vouchers in gujarat.If it is not put can it be disallowed under income tax act

Whether FBT is applicble to the individuals & HUF or not?

hiiii i am ashish studying in one of the uk university, i got a case study to do it is related to finance as i dont have anybackground in finance please can you help me out in that

If a CHA raises an invoice for shipping dues,port wharfage & other port dues for a consolidated amount without giving any breakup for these charges in the invoices,what is the rate of tds applicable in such transaction.Either 2% treating whole amount under 194C or 20% treating whole amount against hiring ( i.e. port wharfage )

If u find any problem in understanding this point bcoz of my language write me back

We are paying commission to some foreign parties and on such services, We pay Service Tax on import of services

Pl confirm following points:

1. Whether can we pay such ST liability with ST input available.

2. Whether can we take input of such duties payable on such import of services.

Pl provide copies of relevant circular or notification.

Dear Sir,

This is with regard to the availabity of CENVAT Credit on the service tax paid by a corporation on availing the service of a transporter of goods by road.. Cen credit be taken? Since the manufacturer is required to file the Service Tax, will he be able to get credit for it as an input? This is with regard to transportation from the factory to the clearing agent. I am aware that no credit may be taken for outward transpotation from the clearing agent to the customer. Thank You..

I had appeared in CA(Final)nov'07. Although I gave good answers so far as my knowledge goes in my Fourth paper of GrI. i got only 38.I had mentioned sections and tried to give answers to the point.can you please tell me wht is the reason behind it. I have already solicited for reveiwing the the said paper. I don't know what will turn out. Does reveiwing paper make any sense