Sitting fees received by Directors ( Nominee directors and Whole time directors ) is taxable under the head "Income from other sources " for nominee directors and under "Salary" for Executive / Whole time directors.

Am I correct ?

Hi! what are the areas should i focus during my articleship?
in my current firm i have learned only vouching?
what are the other areas i should focus on?
please reply soon

Thank you very much

If we fail to deduct TDS for the monthly telephone bills and pay TDS within the financial year, whether the telephone expenses will be allowed as business expenditure for that financial year ?

Please clarify.

Whether credit of Custom Duty and Addl Duty paid on import of Capital goods which is used to in providing taxable service is available? If so, how much? In return, the details of Input Service Format, Reg no. is ask. So how to show the same in case available as credit?

Hello sir,

iam ANITA JAIN doing articleship in Laxminiwas & Co.i wanted to know that whether MBA Correspondence from ICFAI is valid or not...

thanking you

A Company is having 3 Directors in whole time employment and they draws monthly remuneration. Is there any P.F. Liability for the Company towards this 3 whole time directors?

As per Sch VI the Company shall disclose the managerial remuneration paid to Directors including P.F. if any.

But Directors are not considered as employees.

As per the provisions of the Employees Provident Fund Act the director who is in full time employment of the Company is also an employee.

Sir,
How do we determine the date in which a bill of exchange is due when the date of issue and date of acceptance is given along with the time. Is the time counted after the date of acceptance or date of being drawn what??
A)1.1.05, X draws bill on y for 3 months. Due date of bill will be ????? How?
B) on 1.8.05 /x draws a bill on Y “FOR 30 days after sight”? Date of acceptance is is 8.8.05. Due date of bill is a)8.9.05 b)10.9 c) 11.9
What is “after sight”?

Can a person which is a member of Recognised Provident Fund (RPF), take loan from it ? And is it possible for him to take loan from it at concessional rate ?
Taking loan from RPF at concessional rate is taxable for all employees or not ?

What is NSC ? What is the meaning of 'periods' in respect of NSC ? Is the full name of NSC is National Saving Certificates ? How it is different from Kisan Vikas Patra (KVP) or Indira Vikas Patra (IVP) ?

Whit is STT ? Is it impose on all transaction of shares or only on daily trading of shares ?