Reimbursement of medical expenditure upto Rs 15000/- per year is exempted. Please advise whether medical bills should also be pertain to same financial year or may be related to previous years also( old bills ).

Dear members,

Some of my TAMILNADU GOVERNMENT EMPLOYEE clients (SALARY HOLDERS )have received Interest on Pay commission arrears in the assessment year 2008-2009.

The nature of the case is as follows

1) Government of tamilnadu declared Increment on salary to Government employees in the year 2000-01.
2) Since by that time there were no funds in the government treasury the arrear declared by the government was credited in to the G.P.F. account of the Employees. and the assessees claimed rebate u/s 88 for ascertaining their Taxable income.
3)FOR THE financial year ended 2001, and F.Y 2002 it was kept in G.P.F. Account.
4) For and from the F.Y. 2003 the arrear amount was excluded in the P.F. SLIP. and no interest was calculated from that year.
5) In the financial year 2007 TAMILNADU GOVERNMENT has released one portion 30% of that arrears from G.P.F. Account. (I have not considered this as a salary as it was refunded from G.P.F. account).
6) In 2008 Government released another 30% from G.P.F. account and also paid Interest for the previous years 2001-2007.

my querry is
A) whether am I claim interest is non taxable for the assessment year 2008-2009.
B) Whether the Principle is non taxable as it was invested in G.P.F. Account for the financial year 2000-2001. (NOW RECEIVED)

MEMBERS MAY CLARIFY to ascertain the proposed taxablity of my clients in this regard.
Regards,
AUDITOR SEKAR
sugavanamsekar@yahoo.com

I HAVE TAKEN HOUSING LOAN IN 2005 TO PURCHASE A NEW HOUSE AND CLAIMING DEDUCTION U/S 24B AS SELF OCCUPIED HOUSE PROPERTY LOSS FROM INCOMR FROM SALARY. NOW I HAVE TAKEN LOAN FOR HOUSE REPAIRING/RENOVATION. CAN I CLAIM DEDUCTIN FOR THE LOAN REPAYMENT FOR PURCHASEM OF HOUSE AND LOAN REPAYMENT OF HOUSE REPAIRING /RENOVATION. I AM PAYING INSTALLMENTS OF BOTH THE LOAN. SO CAN I CLAIM DEDUCTION U/S 24b for both the loan interest and principal.
please guide me.

Please confirm me the minimum authorised capital required for incorporation of NBFC (not accepting public deposit) private company and the provisions of exemption from registration under RBI Act 1934

Respected Sir,

I have completed C A (INTER) 2001 but due to personal problem I could not complete CA
Presently I am working as a Accounts Manager in Pune. I have 12 years Experience in Accounting & Taxation field
I am getting 300000 package p.a.

Now I have to do SAP R/3

If I do SAP R/3 (FI-CO)

What is scope regarding Accounting career ?

How mach salary I will get after completion of SAP FI-CO ?

With best regards,


Vilas Choudhari
CA Student

Hello EXPERTS,
ABC Pvt Ltd place a order for supply of Hydropnuematic System. One of the terms of P.O. is that Installation, Testing & Commission of system will be carried out without any extra cost.

Now my query is that wether we treat it as composite order including installation i.e TDS will be done
OR
TDS will not be done as installation is free of cost along with supply of Hydropnuematic System.

Hello EXPERTS,
ABC Pvt Ltd place a order for supply of Hydropnuematic System. One of the terms of P.O. is that Installation, Testing & Commission of system will be carried out without any extra cost.

Now my query is that wether we treat it as composite order including installation i.e TDS will be done
OR
TDS will not be done as installation is free of cost along with supply of Hydropnuematic System.

Hello EXPERTS,
ABC Pvt Ltd place a order for supply of kitchen equipment. As per payment terms of P.O.
Ex work amt 2987010
Exice duty 149351

sub total 3136361

sale tax 3% on 3136361 94091
Installation charges (Included)

Order Value 3230452

Installation of system will be carried out at cost included in above costso it is composite contract.

Now my query is that wether TDS will be done as it is composite order including installation i.e TDS will be done
OR
TDS will not be done as Sales tax is leived on sub total amount.

1)How we will deduct TDS on a composite bill of supply and service : -Where supply and services within bill are not biforcated -Where supply and services within bill are biforcated

2)How will we capitalised Insurance,registration fee and accessories expenses of a new vehicle which are not included in the original bill and the bill date are different.

1)How we will deduct TDS on a composite bill of supply and service : -Where supply and services within bill are not biforcated -Where supply and services within bill are biforcated

2)How will we capitalised Insurance,registration fee and accessories expenses of a new vehicle which are not included in the original bill and the bill date are different.