Please clarify whether we can allow HRA claimed by an employee Rs.50,000/- per month on simple declaration to his spouse or any document is required to be taken to safe gaurd Company interest as it is responsiblity of the company to answer at a later date.

A S Murthy

The balance of an unsecured loan as on 1st April 07 was Rs. 2,00,000/-. An additional loan of Rs. 10,000/- was taken on 1st June 07 in CASH. A sum of Rs. 10,000/- was repaid on 30th September 07 in CASH.

Does it amount to violation of section 269SS & 269T of the I. T. Act?

Am I liable to pay penalty u/s 271D and 271E of the I. T. Act?

If yes, what would be the amount of penalty imposable?

What if the amount (Rs. 10,000/-) is shown as a temporary advance?

Thanks & Regards,
Niki

hi to all,
During an audit i found that the company is not collecting forms of sales tax like as C/H/F in haryana.Company is listed in stock exchange and have a division in bahalgarh haryana.When i checked the sales ledger of bahalgarh division i found that there is huge sale against C form and company did stock transfer to it's delhi division but company did not collect forms with in year.When i asked them they said that we collect forms when service tax department ask for that even we did not collect forms for FY 2006-07.In my opinion they should collect it with in three months.But i am confuse about haryana sales tax rules is the rules for haryana differ about this. Please guide me about this and also suggest if company have sale of rs 1000000 against C forms then what is the panelty and interest if there is any.

Property and Home Loan in Name of Wife and Whife does not have any income. Installment paid by Husband. Can Husband claim benifit of Interest under income from house property and Installment in 80C.

PLEASE ANY ONE HAVE J.K.SHAH NOTES FOR PCC???

HELLO TO ALL....

DOES ANY ONE HAVE J.K.SHAH'S STUDY MATERIAL FOR PCC?? I NEED IT AS SOON AS POSSIBLE AS I HAVE AN EXAM IN JUNE...

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THANK YOU TO ALL

we are a proprietory firm doing the business of binding books on labour jobs.

our purchases are gum and cloth.
we bind the books and cut them on cutting machines.
our turnover is more then Rs Ten Lakhs.

Are we liable to pay service Tax

If yes, at What rate

we are a proprietory firm doing the business of binding books on labour jobs.

our purchases are gum and cloth.
we bind the books and cut them on cutting machines.
our turnover is more then Rs Ten Lakhs.

Are we liable to pay service Tax

If yes, at What rate

Under the present provisions of Income-Tax, Reimbursement of expenditure incurred by an employee on medical treatment of self or dependents over and above Rs.15000 is fully taxable in the hands of employee.

However there are some hospitals to which exemption in this regard has been granted by the chief-commissioner of the income-tax & reimbursement of expenditure incurred in such hospitals is fully exempt from tax.

Is there any list of such hopitals available ??

Also whether is it necessary to obtain a certificate in this regard from the hospital concerned?
Pl. clarify.

I am paying LIC premiums of my wife from my bank account I want to know can I claim that amount as a deduction u/s 80 c in my Income Tax return. My wife is also filing Income Tax returns.

Thanks.

Dear Professional couligue

A Individual Person has taken a general Loan from state financial corporation and the proceeds has been used for the purpose of construction of an Hospital Building and let out the same.
whether the interest on said loan can be taken as a deduction U/S.24 against the Rent receivable.
please reply any one as early as possible

thanks and Regards
Rajesh