An employee of our client has shifted from Bombay to Pune.Apart from meeting his air ticket expense, the company gave him an allowance based on his grade(the company has a policy to give fixed allowances on such occasions based on the grade of employee irrespective of whether any actual expenses are incurred agaist it or not) which is not against any actual expense. Air ticket expenses have been charged to FBT. Whether the allowance given would be taxable in the hands of employee or chargeable to FBT?

Please help me on this:

One of the clients wants to convert building into stock in trade. How to determine the Fair Market Value of the building for taxation purposes.

Dear Sir,
Banks & other financial service providers charge service tax on bank charges & other services. Can we take cedit of service tax on such business auxillory services? Is there any time limit to avail cenvat credit on banking & financial services?

DEAR SIR/MADAM

IN THE F.Y. OF 2008-09 WE HAVE FILED E-TDS RETURNS WHERE I GOT U.T.N. NUMBERS THESE F.Y. PLEASE TELL

THANKS IN ADVANCE

DEAR SIR/MADAM

IN FORM-24Q IN ANNEXURE-I DETAILS FILING IN THE COLOUM OF TAXABLE AMOUNT ON WHICH TAX DEDUCTED (318) IN THIS COLOUM TAXABLE AMOUNT MEANS

ADD: BASIC SALARY+DA+HRA+CCA+ETC.=100
LESS: PF+LIC+GIS+PT = 15
PF,LIC,PT,GIS IS DEDUCTED BY 85
THE EMPLOYER

WE ARE ENTERED IN COLOUM NO (318) 85 OR 100, PLEASE TELL
THANKS IN ADVANCE

Why deferred tax worked and deducted from current year profit ?

while doing a stock valuation, we have make 100% write off provision on Non-moving items.Now my query is that, as per CENVAT credit rule 2004(rule no-3(5b), i have to pay the excise duty on such written off amount ? & when in future, while using such items in production process I can take a CENVAT credit ?....
Plz Help Some Body........

if a salaried employee is getting salary more than the exemption limit than the employer of that employee is liable to deduct tax at source for that year .generally tax should be deducted every month from the account of employee.my querry is that if the employer decides to deduct tax of the employee from july or aug or sep onwards for the whole year,than is he liable to pay interest as tax of every month is due on 7th of succeeding months and the tds has not been deducted for the month of april,may ,june.No liability for tds has been created for the month of april,may,june

Sirs,

when deducting TDS on the sales commission payable to an agent, whether gross amount including service tax paid to him has to be considered.

i.e. Commission amount is Rs.100/-. Service tax collected by him is Rs.10.3/-

whether TDS should be on 100 or 110.3/-?

It is contended by one client that the service tax collected by the agent from the service receiver is reimbursement of expenses and for us, it is commission..

i wish to know that whther this stand is correct or not.

Further, in Profit and loss account the entire amount i.e 110.3 is charged as Commission paid. (No distinction between commission and service tax paid- in the books of the service receiver) ( the Service receiver is not claiming any input tax credit as he is not liable to any Service tax or Excise duty)

kindly clarify

Angayarkanni Murugesan

DEAR ALL,

How can I calculate the limits to increse the remuneration of our directors under
Section 269 read with Schedule XIII of the companies Act 1956.

Kindly advise.