My Company is paying Rs.1,250/- every month to all employees in their pay slip. This amount has been treated as exempted while calculating tax liability. Without taking any proof/s for amount spent on medical expenses, my Company is taking declaration from employee that the amount received by the employee has been spent for the purpose for which it has been given. Will it be correct on the part of Income Tax Act/Law? What will be the end responsibility of Employee as well as Employer?

My Company is paying Rs.1,250/- every month to all employees in their pay slip. This amount has been treated as exempted while calculating tax liability. Without taking any proof/s for amount spent on medical expenses, my Company is taking declaration from employee that the amount received by the employee has been spent for the purpose for which it has been given. Will it be correct on the part of Income Tax Act/Law? What will be the end responsibility of Employee as well as Employer?

Good Evening.

My query to our respected professionals is that is it true that an individual can not be proprietor of more than one firm or concen. if it is true then give me logic behind this

what is the maximum allowable deduction in respect of Principle repayment

Dear all

i need small help

i have paid last month salary arrears on this month.Professional tax deducted from arrears amonut?

regards
Suresh

Please advice whether TDS is deductiable on Gas Cylinder Refilling Charges done on regular basis? If yes, under which section.

what if this activity is done only once in a while & not on regular basis?

Thanks
Yogesh Modi

Hi,
I have incurred expense on medical reimbursement of employees. I want to know whether I am liable to pay FBT on Rs. 15000 which is exempt in the hands of employees.

Sir/Madam,

Under which section TDS should be deducted if the exp. is related to Ad adaptation for
recruitment,script writing for campaign, &
Appointment Docket printing with photograpy
of models etc.

I think it should be u/s 194"C". Am I right
Pl.suggest ?

ANKUR CHATURVEDI
(CORPORATE FINANCE)

HI.
I have incurred Expenses on Dress of my employees. It is not a uniform allowancce. Am I liable to pay FBT on value of this expense.

hi

The due date of payment of tds is 7th of the following month, but i have deposited my tds at bank on 8th of the month, and the bank gave me the deposit date of 8th.
the date of clearing is 11th .
am i liable to pay interest for the delay payment of tds??
and which date is applicable for the payment of tds (as per income tax act)whether deposit date or claearing