we are a proprietory firm doing the business of binding books on labour jobs.

our purchases are gum and cloth.
we bind the books and cut them on cutting machines.
our turnover is more then Rs Ten Lakhs.

Are we liable to pay service Tax

If yes, at What rate

Under the present provisions of Income-Tax, Reimbursement of expenditure incurred by an employee on medical treatment of self or dependents over and above Rs.15000 is fully taxable in the hands of employee.

However there are some hospitals to which exemption in this regard has been granted by the chief-commissioner of the income-tax & reimbursement of expenditure incurred in such hospitals is fully exempt from tax.

Is there any list of such hopitals available ??

Also whether is it necessary to obtain a certificate in this regard from the hospital concerned?
Pl. clarify.

I am paying LIC premiums of my wife from my bank account I want to know can I claim that amount as a deduction u/s 80 c in my Income Tax return. My wife is also filing Income Tax returns.

Thanks.

Dear Professional couligue

A Individual Person has taken a general Loan from state financial corporation and the proceeds has been used for the purpose of construction of an Hospital Building and let out the same.
whether the interest on said loan can be taken as a deduction U/S.24 against the Rent receivable.
please reply any one as early as possible

thanks and Regards
Rajesh

u/s 80c, only tuition fees paid for full time education is allowed as deduction. But if there is no distinction b/w tuition fees & development fees is made on the fee receipt, then how much amount I can claim as deduction?

As Service Tax is reduced to 10% I want to know Is there any circular or any G.O. is there for reduction in service tax. As my owner is not agreeing to take service tax on rent at 10.30%.

Thanks.

i took Postal life insurance policy on mar,2003 and i suurender it on Nov, 2008, after 5 years and 9 months. my query is that can i avail tax rebate u/s 80C on premium paid from Apr, 2008 to nov, 2008 in this year?i.e Assessment year 2009-2010

Hi,

I had taken a home loan in Sept 2005 for purchase of flat in Delhi NCR & till date I have not taken possession of the flat bcos although the builder has sent me a letter asking me to take possession of the house, the society is not still in a liveable condition.Construction is still going on in other blocks & lot of work with regards to landscaping, parking etc is pending.

I am made to understand that for claiming home loan tax rebate you have to take possession of the property within 3 years from the end of the financial year in which the loan was taken OR else I will never be able to claim tax rebate for this home loan. So in my case since I had taken the loan on Sept 2005, I need to take the possession of the house by 31st March 2009 ( 3 years from the end of the financial year in which loan was taken ie 2005 .

Now someone also told me that this is not true & I can claim tax rebate upto 5 years from the end of the FY in which loan was taken ie in my case till 31st March 2011.

pls someone clarify as to which of teh above is true & also give the relevant income tax clause for fighting out the same with my employer.

Regards
Sumit

hi,
Could you please tell me whether LLP is overight the Partnership act and Which one is Relevant for PE2 June09 Exams

Thanx in Advance

Regards
Anil Kumar Meena

If an Assessee wants to get the details of TDS challan paid by him during a year then is there any way he can get this from the internet
Details required
1.Date of Challan
2.Challan serial No.
3.Amount
4.BSR Code

Please do reply on urgent basis