CAN ANYBODY SEND ME VARIOUS FORMAT OF MIS REPORT UNDER MENTIONED MAILID:-

anujca79@yahoo.co.in

one of my clients an australian natinal has become a resident of india, as per the defenitions of IT act and Fema.
now he wants to buy a residential property in india... i) whether RBI permission is required
ii)whether he can sel the property after sometime and repatriate funds to australia.
iii) since he has become a resident of india, i think he has to pay tax on the income in australia also... if so what is the procedure for computation of total income

regards, madhav

Hello friends,
We have a query regarding deduction of tax from salary, when the employee disappears without giving notice of resignation. The query in detail is as follows:
An employee has given declaration at the beginning of the financial year regarding his investment to be made and rent to be paid during that financial year. As per the declaration given by the employee, the tax is deducted regularly on monthly basis. After some months (or say 4 months), the employee disappears (leaves) from the company without giving any notice of resignation. The salary for whole of the 4 months has already been paid to the employee.
But the employee did not show any evidence / documents for investment made / rent paid till that period. Later on when the income and tax liability thereon is computed, then also there is a liability of deduction of tax from the salary of last 4 months paid. But this tax was not deducted or deposited with the account of Central Government due to declaration submitted by the employee.
a) What will be the liability on employer regarding deposit of tax on salary? What remedy is available to the employer on liability of deduction and deposit of tax due to negligence on the part of the employee?
b) If the salary for the last month is left, but the tax liability comes to be in excess of the payment required to be made to the employee, then what treatment will be done?
Please guide us on the above mentioned issues.

Waiting for your prompt response,

With Regards,

Gourav Jain CA

As person has taken applied for leave encashment in the month of March-08, but has got sanctioned in the month of April-08 and payment was also disbursed in the April-08.

Now my question is that -

Whether it should be booked as liability in the month of March-08 by booking as expense for march-08, or it should be booked in the month of April-08 as expense.

If it booked it in the month of march-08, whether company is liable to deduct tax in the month of march-08 itself.

and finally, when it will be taxable in the hand of employee, in the previous year 2007-08, or in the previous year 2008-09

kindly reply.

If the assessee does not have an internet banking account can somebody else pay the tax on his behalf through his internet abnking account?
also can the taxes be paid through one's credit card?

want to know tax exempiton of purchase of plot

1. Whether residential plot is coming under the word residential house property for the purpose of Sec.80C.

2.Exemption for interest accured on plot loan u/s 24 of Income Tax, 1961.

3.If a personal loan (not the Housing Loan) is taken for purchase of Plot & residential house , then whether in that case also

For Ast Year 2008-09 Mr. X an employer, deducted tax at source on Int. is Rs. 10,000. The same is remitted within due date also. But after the payment, Mr. X comes to know that he is deducted & remitted excess Rs. 5,000 to Govt. Now the question is,

Can he adjust the same i.e. excess amount Rs. 5,000, against any other TDS payable for the same Ast.Year?

Re.

Arun Dongre

had been pruchased a plot at delhi on April 3, 2008. I had made full and final payment of the plot by taking a loan of Rs. 11 lakh from bank, whose recovery from my pay is Rs. 11000 pm.

Please let me know any book or Web Site to update / to gain expertise in determining whether particular expenditure is of capital or revenue


I know the basic concept.I just want to update acadamically by studing case laws / example

Sir,

We are receiving Rent from Office and Furniture and We have a separate agreement for both We are receiving Separate Cheque for Rent on office and Furniture from F.y. 2006-2007 We are Charging Service Tax on Rent on office since it is a immovable property
Whether we have to Charge a Service Tax on Furniture for which we are receiving the rent if yes than from which year we have to pay service TAX

Please suggest