Here the issue is :
when in the case of a director using the accomodation provided by the company as perquisites which is ultimately of his family member then how can he be the tax saver being adding of Perx came to 15%.

E.g.
A,B,C,D are Directors having Family members X,Y,Z.
now if Salary of A is 25 Lacs P.a.
and Company takes house on rent from X for A at 6 Lacs p.a.
The perquisites to be added in A's income will be 15% of his Salary. i.e. 3.75 Lacs also X wil get the Net HP income as 4.2 Lacs (6 Lacs-30% Std Ded in HP Head).

But company can save only 6 Lacs being expenditure for Directors home.

The Ultimate effect are :

Company's income decreases = 6.00 Lacs
Director,s income increases = 3.75 Lacs
X's income increases = 4.20 Lacs
-------------
Ultimately increase
in income of the Group = 1.95 Lacs
===========
So now how can legally it may be turned in to some profitability operation being all this wil take place in next months...
Is there any way one can suggest to come out of this loss of 1.95 Lacs of the Group...


Kindly think twise before replying this question.... Thanks

we would like to start production of Agro Shade Net
registered under Khadi Board.
The said good (Agro Shade Net) is a genuine product of village industry.
HSN Code (3926.90.99) confirmed by the commissioner of commercial taxs,Thiruvananthapuram

Q.1 Is there any exemption in EXCISE/VAT/CST for the said goods?

Dear Sir,

In the event of inadvertent non disclosure in the RHP what remedy is open to the investor in the IPO after the issuer Company has allotted the shares.

S D Shenvi

What is the income tax rate (Slab)?
For Individual
For Non profit seeking organization
For Corporate

Dear Sir,

My question is can two already registered partnership firm with ROF can make a new Partnership Firm and do the business in name of new firm.

A cellphone service provider engages a contractor for maintenance of its cellphone towers. During the period of this contract, the contractor engages a service engineer for a repair work to be done on one of the towers of the cellphone company. After repairing, the engineer issues a bill for Rs.21,000/- including service tax of Rs.1931/- in the name of the contractor. The contractor, in turn, submits the bill to the cellphone company and gets reimbursed. Now the questions are

1) who is liable to deduct tax at source and on whom?

2) who is entitled to take credit of input service tax?

I had received my ITT certificate but because of some problem in transferring house it is lost can you suggest me the way of obtaining duplicate training certificate.

also suggest me the way of obtaining it.

Dear Expert,
plz tell me the Due dates of Filing of challans and due dates for payment of professional tax (Employees) for Employer ?
plz help.......
State - Madhya Pradesh

Dear Friends,
Section 194C of our IT Act says that deduction is to be made for carrying out any work or (Supply of Labour for carrying out any work). Now my question is shoudl i levy 194c if a party has provided Electricians & Supervisors for carrying out work at a place, the bill of the party contains Electricians & Supervisors, should these be considered as labour under the meaning of 194C, labours in section 194C according to me are unskilled labour, on the other hand an Electrician is a technician & considering the same fact TDS U/s. 194J should be deducted i.e. the party might have provided ( technical service/ assisstance to us). The same is the case with AMC Contracts, we deduct 194C on the same, but the service actually provided by them are sometimes professional services. Why can’t it be considered under 194J for TDS deduction. What opinion do you all have about this, Please correct me if I am wrong.

Resp Sir,

we have Agro based Public ltd co., my ques is if we purchase some items with VAT (we have taken setoff of it), if the supplier didnt paid the VAT collected ....then who is liable to pay VAT...ifi m liable (BUYER) then how can crosscheck / verify the payment of VAT by supplier.

thanks in advance.

Regards,

Rahul