Can someone please confirm what is the maximum amount can be given to employees as food allowance per day? Earlier it was Rs. 50/- per day. Is there any new limit been set?

As we are giving Sodexho food vouchers to our employees Rs. 1500/- per month and we want to increase the voucher amount, we want to confirm whether it does not get taxable to employees.

Is trade Discount defined in any act?

1. Generator
2. Air Compresser & Circulater

3. Motor lorry for transoprtaion of company employees.

4. truck of company which used for supply goods of the company.

5. photocopier machine
6. cycle shed
7. tools and implements
8. Attandence data processing system
9. water Air Supply System

An assessee has filed an option for availing exemption vide notification no. 4/2007 dated 1.3.2007. He wants to continue to avail exemption during the financial year 2008-09. Do he has to file any document for continuation of exemption or not?
Secondly if he does not wish to avail exemption during 2008-09, do he has to file any document for the same? Shall he charge service tax in the year 2008-09 from the first bill or from the bill when service provided exceeds 10 Lakh? Do he has to pay tax from the very first receipt in 2008-09 or when it crosses 10 Lakh.

What are the consequences of not filing of VAT returns within time limit? Can return be filed without paying VAT liability?

Can anyone tell about the liability of employer as regards deduction and payment of professional tax on the salary of the employees.?

When the employer is liable to deduct and pay it?

When to deposit it?

What type of challan and returns to be used.?

Which amount shall be considered for calculating slabs applicable to a particular employee.?

I am asking for gujarat state.

Thanks
Rohit Boraniya

my company is situated in HYDERABAD, we sold goods to Hyderabad dealer but the same dealer office situated in Delhi so we sent goods to other state but billing the name of Hyderabad dealer now vat is applicable or cst plz suggest me

Please clarify :-
As per Income tax provision, if payment to contractor exceeding Rs.20000/-(single payment) or 50,000/- (one year), we will deduct TDS 1% with applicable sc & cess for Advt. contract. As per circular no 715 reimbursement expenses can not be deducted out of the bill amount.

If one company pay the entire advt. exp (say Rs. 250000) and reimburse from other group companies in share basis. If the share of the one company exceed the minimum amount which is not required to deduct TDS ( say Rs. 55,000).

What amount to be deducted as TDS for the Main company (entire amount or his portion) and Partipating company for its payment of Rs. 50000/- ?

There is a land in the name of individuals. The current owners of the land planning to set up a partnership firm (“the Firm”) and contribute the land in respect of the proposed development into the Firm as their capital share of capital contribution. The land contributed would be revalued by the firm based on a market valuation report and this amount would be credited to the current account of the partners. The Firm would be converted into a private limited company under Part IX of the Companies Act, 1956. On conversion, the partners would be issued shares in the Project Co in respect of their fixed capital account balances and the balance in the current account of the partners (representing the revaluation amount) would be recorded as a loan from the shareholders in the books of Project Co.

where will fixed deposits with banks be clubbed under the schedule vi to the companies act,1956?