I am a student of CA FINAL. My exam will be due on November/December 2010. which Finance Act will be Applicable to me for direct and indirect tax,since Interim budget has not brought any mjor change in tax law, whether Fiance Act 2008 will be applicable to me or I have to wait for Fiance act 2010?

I am getting monthly reimbursement of medical to the tune of Rs 1250/- so not exceeding Rs 15000/- p.a. Now my query is can I claim this as an exemption while filing of my return even if I do not produce the medical bills to my employer because since reimbursement of medical is taxable under FBT upto Rs 15000/- and over and above Rs 15000/- is taxable in the hands of employee. So when upto 15000/- it is liable for FBT do I have to produce the medical bills to company to claim exemption or simple declaration is sufficient. Suppose if I dont produce the bills still will it be taxed in my hands as well as taxed under FBT.

Thanks in advance

I am working in SEZ developer company. There is One of the Contractor providing consultancy. It has taken 10% of the contract amount as an advance wothout charging Service Tax on the same since it is exempt for service provided to SEZ. Now as there is notification regarding charging of Service Tax for service provided to SEZ. It bills Rs. 80000 per month. Now on which amount service Tax is to be charged Rs.80000/- or Rs.72000(80000 less 8000 being 10% advance). I have read that Service Tax is charged on reciept basis.
Please Help me.
Thanks in advance.

Ours is a manufactring company and is developing a project ie(Purchased land and started to develop a building for its own use). Can we capitalise salary cost of Our MD, CFO and Other corporate staff on some % basis to the new project as they are attending the sites for some work.

Whether the expenses to be capitalised are to be treated as development cost and AS-26 Intangible Assets would be applicable.

OR

Whether the capitalisation of preoperative expenses would be covered under AS-10 Fixed Assets.

PLease confirm.

capital gain indexed cost for financial year 2008-2009?

HI I AM WORKING IN A PRIVATE COMPANY

I HAVE NOT FILE OUR TDS RETURN FOR SALARY FOR FIRST 3 QUARTER.

IS THIS ATTRACT ANY HUGE PENALITY BECAUSE TDS DEPOSITE AMOUT IN EACH QUARTER IS SO HIGH.......


IS THERE IS ANY PROVISION FOR FILLING NOW FOR ALL FOUR QUARTER???????

An employee receives Salary from his employer which does not include any component by name of Medical or LTA but can he still claim Medical benifits upto 15000 and LTA expenses as per IT rules while filing his ITR?

Dear all,
Payment made to single party but 2 different contracts(for one 35,000 (per year) & for other one 45,000)
whether TDS to be deducted or not u/s.194C?
(separate contracts does not exceeds the aggregate of Rs.50,000 but combined exceeds the same)

An employee receives Salary from his employer which does not include any component by name of Medical or LTA but can he still claim Medical benifits upto 15000 and LTA expenses as per IT rules while filing his ITR?

hi everybody,i have my PCC attempt in november'09 and i have to go for self study only for income tax subject.So pls advice me as 2 which book 2 follow so that it is easily understandable for me.I heard about vkshingania's book n padhukas n Tn manoharan's book.so pls tel me which is the best book for self study.thank you.