An employee has received a lumpsum amount of superannuation fund on his retirement.

Would it be chargeable to Tax ?

Please explain the conditions of such treatment of the received amount

Specifically explain the point :-
To any employee in lieu of or in commutation of any annuity on his retirement at or after a specified age or on his becoming incapacitated prior to such retirement.

Please suggest as to accounting treatment of bus facility give to employees for the plant to their residence.

whether the same is treated as staff welfare or administrative expenses???

Please reply...

I have cleared first group of ca final and about to clear second in may 14. I have done M.com.
But I am quite worried (actually confused) about so many talks and rumors regarding future of CA.
Someone says CA has a bright future. While others say CA itself is not enough.
So i am confused whether i must do something more than CA.
My question is straight. What does it take to succeed in finance career.

Please guide me, which according to you among the below two strategies will help me to succeed in practical world.

1) CA alone is not enough for a good job, and I must have to do something extra.

2) If i say i am not a study lover then instead of taking multiple degrees or certificate courses, I should complete just CA and M.com and then focus on practical knowledge, soft skills, allied knowledge.

Thanks

WE E FILLED THE COMPANY INCOME TAX RETURN BUT BY MISTAKE WE LEFT SOME ITEMS ON BOTH SIDES OF BALANCE SHEET IN EFILE . NO EFFECT ON ANY TAX AND PROFIT OF COMPANY. EFILE IS BELATED COMAPNY IS NOT UNDER TAX AUDIT CAN WE FILE WITH AO THE FINAL BALANC SHEET OR SOME OTHER ACTION REQ GUIDE

I worked under first employer for 1yr 9m 23days and I availed leaves for 196 days. Allowed leave was 73 days(which was 1/6 of days served), therefore excess leave of 123 days (already received intimation).Then after I registered under next employer for balance period of 1yr 3m something. I worked for 440 days so leaves allowed was 73 days, I availed 22 leaves, will I get set off of 51 days (73-22) against my previous excess leave of 123 days? For what period I should get register in supplementary deed?
I will be so thankful if you solve this puzzled situation.

sir assuming if I am under scrutiny by income tax officer - can the income tax assessing officer ask for my family members pan numbers also and can he also scrutinize my family members accounts also ? please assume that I and my family members have no interlinked entries.

i filed the return for f.y.2012-13 claiming refund of tds deducted rs. 9320. but there was tax credit mismatch as the same was not showing in 26AS. i received the intimation from CPC for "no demand no refund." how can now i proceed in this case ? as i have the form 16 issued by employer showing tds deducted rs.9320. i have already communicated my employer the details of mismatch. but he is not acting upon it. should i write a letter to concerned A.O.? is there any sample format available for writing the letter ?

I have filed a return u/s 139(4) n by mistakenly in d verification column i have wrongly written assessee's mothers name. Pan no is correct. . Then i revised it n got correct ack generated. . But later i realised belated return cannot be revised. . Now should i post original or revised ack to cpc. .???

Respected experts, I want to know that if input tax credit for VAT on mobile n telephone purchase is available for trader/manufacturer in delhi as capital goods or not or it is included in the negative list of capital goods.

I am Having Two Business one is Jewellery and the other Pawn broking.My jewellery business profit ratio is 3.63% and pawn broking business profit ratio is 10.68%.I am maintaining separate books of accounts for each business what is my income from business in concern with 44AD of Income tax act.
If my jewellery sales is 1950000 and Gross Interest Received in Pawnbroking is 650000.