X, an employee of ABC ltd, at the time of retirement gets a sum of Rs. 105000 from his employer as appreciation of services in addition to other benefits like gratuity, leave salary etc

Will the amount so recd as appreciation of services be fully taxable or

can it treated as a gift & will be fully exempt as the employer is liable to pay FBT????????

Plz guide



Thanks

Rupesh

we had purchase shares on 16/03/2003 and shares split on 10/10/2005 and sold on 10/11/2005 we had claimed long term capital gain is it right please suggest me its urgent

Please anybody can provide me with all the provisions of companies bill 2008. (All the provisions). emial id- agarwal.sarika@in.kline.com... thnks

This is Sunny doing CA and ICWA. Soon I will register for ICWA Final and my CA Final attempt is in May, 2009 for which I have join coaching classes.

Would u help me to know that should I register ICWA Final under Oral or Postal scheme? If almost all the syllabus of ICWA Final are covered under CA, then I think it better to register with Postal scheme. What u say? Plz guide me...Thanks

sir,
my brother working in usa and send 12 lakhs to my account to purchase land on my mother's name but due to some reasons the regd is delayed and such amount was deposited on my dad name as short term deposit and earned 10.5% and now such income is taxable on my dad income r is it exempt. if i transfer such deposit to my mom name is there anything to show the source of income.

there is cr balance in i.tax deffered tax assets in ay 2007-08 (rs 160000)IN ASST YEAR 2008-09 book profit is rs 10000 and dep as per co act is rs 150000 and as per i.tax act it is rs 50000 . WHAT SHALL BE DEFFERED TAX ASSETS /LIABILITY IN THE BOOKS IN FY 2007-08? WHETHER DEFFERED TAX LIABILITY WILL BE RELEASED ? HOW MUCH ? KINDLY REPLY

hello everyone!!
i was wondering if there are any CDs available at the decentralized offices of ICAI or elsewhere, containing video lectures on PCC subjects..

I am aware of the classes brodcasted on gyandrshan, but unfortunately my cable operator doesnt provide the channel. moreover a CD wud be more convinient way for the students to avail the facility of remote classroom..

so if such CDs exist pls let me know and also inform me as to where i can buy them from. I wud also like to know about any online programme which offers such lectures.so pls send me the link for any such website..

We are the registered dealer in Mumbai. We have purchased a Legal Software from Gujrat. The Dealer has charged 5% CST Tax in bill. I want to know whether it is correct or Not? Please Explain

Can anyone please tell me which are all the auditing & assurance standards which are important from PCC exam point of view....

Hi all,

Kindly resolve the following query and specify the relevant provisions of I.Tax Act if any as applicable:

Problem:
An educational institute has offered incentive as housing benefits in lieu of HRA to the officers of higher rank on graded basis. The entity has issued a circular wherein it has stated that incentive shall be taxable as per income-tax rules. Please note the following situation/condition as these are relevant in respect of this problem:
1. The offer is optional (either HRA or Incentive can be chosen by the employee)
2. The institute is exempted from paying Income Tax and not eligible for payment of fringe benefit tax.
3. The said institute is an autonomous body under GOI.

Questions/Query:
In view of the above problem, following questions are given:

1. Is incentive in lieu of HRA is fully taxable?
2. Can the employee avail relief on incentive amount [as per section 10 (13A) of the Income Tax Act, 1961]?
3. What will be the tax treatment of incentive as per I.Tax Act?
4. Whether TDS @10%, 20% or 30% (depending on taxable income of the employee) as applicable is to be deducted from monthly incentive amount?
5. Can incentive be treated just like as HRA for income tax purpose?
6. What will be the tax treatment for a particular month if an employee receiving party incentive and partly HRA in the same month, due to implementation of incentive in the middle of a the month?

Thanks in advance.