A.O. issued notice u/s. 142(1) on dt. 15/6/2009 to submit IT return for the A.Y. 2006-07. Also requested to submit copy of returns & Form No. 16 from A.Y. 1996-97 to 2008-09. Is it a valid notice. Is it binding for the Assessee to submit the required documents. Plz keep the querry open.

Suppose if a person having an age of about 44 years is unnecessorily harassed by promising an oprtunty for employment with certain level of remuneration what damage can he claim legally. Is there any Supreme court decisions connected with the matter.

I had heared one audit is sox audit? will anybody help me to know more about this type of audit...

In case of co operative bank if the person is shareholder of the bank then no TDS is deductible on the Fixed Deposits.
However, whether same principal will be applicable if the person is Nominal Shareholder.

My company has provided me Fuel & vehicle management reimbursement , and driver salary as part of my salary.

Is this exempt from tax ? What is the ceiling limit for fuel and driver salary ?

The salary and exemption details are captured in Form 16 ? Is this enough to file tax or do i need to submit any other documents while filing tax ?

Dear Admin,

Is there any Qualification reqd to become an Expert on CAClub?

Hi,

A Pvt. Ltd. has taken a loan from B Pvt. Ltd. company.

Both companies A Pvt. Ltd. & B Pvt. Ltd. are group companies.

Can you please tell me what documents are needed to explain this loan transaction to Auditors.

Whether company has to do acturial valuation in terms of AS 15, even though the same has been done by the LIC of India, with whom compnay has maintained post retirment fund like gratuity & Superannuation.


Matter is very urgent......Pls reply urgently..

My company's retirement benefits funds are handled by LIC for Gratuity and Superannuation. Based on tle actuaral valuation, premiums are charegd by LIC every Year. They provide us actuary ciertificate in this manner and the bases of calculating premium.

My question is , since LIC does autural valuation every eayr, whether, company must do actural valuation on its own for compliance of AS 15

Dear sir

We were awarded a contract and in this connection we have sub-contracted certain works to NRI company. On the payments made to the NRI (sub-contracted) we have paid service tax on reverse charge mechanism. The person who had awarded the work had reimbursed the payment of service tax made by us on the NRI payment. Our claim is as per the contractual provisions. Whether there is any mistake in our claim. Can law prohibits such reimbursement claim because it is service tax paid on the input service.