CA R SEETHARAMAN's Expert Profile

Queries Replied : 42506

I am a retired Executive Director/Finance of a Navratna PSU.

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sivaram says : Respected sir
exgratia though taxable under salary the worker wants to plan this component as Gift can it be done or gifts comes only under other sources ? i nave read under perquisities any monetary gift is taxable and non monetaary gift is exempt upto value 5000? can this exgratia can be treated as gift and rs50000 exemption can be claimed under other sources head thereby not treating the exgratia component as salary but as gift

sivaram says : Respected sir
exgratia though taxable under salary the worker wants to plan this component as Gift can it be done or gifts comes only under other sources ? i nave read under perquisities any monetary gift is taxable and non monetaary gift is exempt upto value 5000? can this exgratia can be treated as gift and rs50000 exemption can be claimed under other sources head thereby not treating the exgratia component as salary but as gift

sivaram says : Respected sir
exgratia though taxable under salary the worker wants to plan this component as Gift can it be done or gifts comes only under other sources ? i nave read under perquisities any monetary gift is taxable and non monetaary gift is exempt upto value 5000? can this exgratia can be treated as gift and rs50000 exemption can be claimed under other sources head thereby not treating the exgratia component as salary but as gift

Harshal says : LTA Rule
Dear Sir, I need help for LTA exemption as per my knowledge current slab for LTA 2014-17 so shall I get exemption for LTA amount for financial 2015-16& 2016-17 in this year if I received in 2016-17 for both year, what proof I have to submit for 2015-16 LTA amount. please urgent help. Regards, Harshal konde

dheeraj says : What will be the tax treatment on raisin.?
If a farmer grow grape and after keeping in storage/farm house,making some process grapes become raisin which is also called as dry fruite or kishmish.So what will be the tax treatment after selling of such raisin.??Wether income derived from such sale is taxable.?nd what about sales tax and excise duty.????