CP , a Company plans to take on hire a car from an individual WI at 15K per month. CP allots the same to one of its Employee EE for his official use. Infact WI is wife of EE and owner of the car . The intention is to avoid higher incidence of tax in the hands of EE. Can any one express his opinion on the below.

1) Will there be TDS on hire paid to WI, if so what is the rate.
2) Will provision of car to EE considered as a perquisite in EE ‘s income
3) What is the effect of FBT on the transaction.
4) Is it mandatory to register the hire agreement to have validity before IT authorities.

Thanks
R nath

My client is registered under the categry of business auxiliary services , providing services of ocean shipment & air freight in the capacity of freight forwarding agent. Whether he can be held liable to charge & depositservice tax on the freight bill of shipper or airline to his customer.



Thanx

ur response will definately give me edge

Can anybody suggest me about which of the following
CA+CS or CA+MBA would give me better career opportunity in the near future

Sir,

Whether Factory rent is covered under service tax and what is the % of tax and from which date onwards it is implemented?
whether require any registration for paying that?

HI, I AM A STUDENT OF PE-2 I HAD TRIED 4 ATTEMPTS BUT DONT CLEARED IN ANY GROUP. PLZ TELL ME ANYONE HOW TO FIGHT SO THAYT I CLEARED MY GROUP

Is there any recent notification regarding allowing of breaking in working hours of an article trainee ?

Replying to a query asked by a CAclub member , many people have answered that -


In case if Salary is credited on 31 March, the due date for payment of TDS is 31 May.


BUT as per Rule 30 of Income Tax Rules, Salary is exception to above rule. So it has to be paid within 7th of end of the month in which Salary is credited.


Please confirm this AFTER refering to Rule 30 of Income Tax Rules.

Earlier, students passing PE2, had to wait for 3 yrs to sit for Final. (the 2.5 years rule cleverly extended to cover 3 yrs). Then from 2006, it became 2 yrs, so a student could sit for Final aftr 2 yrs and a few months in the Final Attempt.
BUT What abt now? Now, PE2 students who passed in Nov07 & who will pass in May08 will have to wait again for 3 years for Final, as they r gettin into the New Final scheme.
PE2 May2008. Result- July2008
2 and half yrs get completed in Jan 2011. So, thus Final attempt will b in May 2011. So, a cool 3 yrs is snatched by ICAI.
But, a PE2 student who will pass in May and will get registered in the New Final, will he/she get into the 3 years articleship or 3 & 1/2 yrs articleship?

When will the amendment be effected. Is it right from the budget date or 01.04.2008?

Sir please let me clear on this head say if i hav a car which is wholy used for business purpose. What will be the consequences.
If u have any other matter which can give me edge in this topic, plz provide the same.