Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Mahesh Jhunjhunwala says : Deduction u/s 80E
Whether deduction is available for foreign studies. As per act deuction is available only for study in institution recognised by Govt.

Premlata Jain says : labour law maharashtra
Dear Sir Please suggest regarding the following query with reference: A construction company is giving work order to the contractor. if that contractor is having more than 20 employees & engages only 10 employees at site. Is it mandatory for a construction company (principle employer) to obtain labour license from the contractor who engaged only 10 employees at the site. Thanks in advance...Pl reply urgently

Deepak says : NGO
Sir, I have some queries relating to NGO? 1) In case of NGO, if the donations from foreign contributions is received, how much maximum the NGO firm can utilize for their admin expenses like salaries, travel expenses, maintenance, etc.? Is there a limit , ( example,say upto 10 % or 20% only ) for overheads of NGO firm out of donations received from foreign contribution or local fund received as donation or contribution etc. 2) Suppose we receive funds locally from the promoters of NGO co, do we still require clearance from income tax for claiming exemption of local funds received as donations in NGO co Thank you

prashant jain says : income tax profit provision
sir, my name ji rahul i am a proprietor in a firm my sales is Rs. 23,42,114.00 & interest Income On Saving Account & Fixed Deposit Is Rs. 23,640.00 i keep regular books of account. sir my Query is that as per new rule Profit is more than 8% then i fill ITR -4. 1. is 8% of sales Which Is 1,87,369.00 + 23,640.00 = 2,11,009.00 Is net profit Or 8%of Sales+ Interest Which Is 1,89,260.00 is profit Which one is right rule please guide me. and give me more knowledge about this rule