Nikhil Kaushik's Expert Profile

Queries Replied : 23957

In case you are looking for tax compliance or advisory services, you can reach me at canikhilkaushik @ gmail.com

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Gajjala Satheesh says : IT on commission
Dear sir, one of our sales person getting annual salry 1,80,000/- and getting commision on sales 1,20,000/-. as per IT more than 2 lakhs is limit, and she is a lady. Is Salary is different and Commission is different. Plz explain.

ALI VIRANI says : transport allowance
sir , i am recived transport allowance Rs.10000 but there is no expenses incurred by me then transport allownce is exempt or not ???

shashi singh says : challan no 280 online payment
Dear sir,I read your expert comments on some of the queries on CA club. Thanks for your contribution. i have query regarding detailes furnished in challan 280 and whether it can be altered???

ARADHYA CHOUBEY says : Income Tax
Sir, Whether a partnership firm [registered in UK] is a ‘firm’ under Section 2(23) of the 1961 Act and is it an association of persons ?

jineesh says : gratuity provision
Please answer my query Instead of calculating provision for gratuity yearly and to charge corresponding to expenses company calculated provision (end of service benefit) during the year and charged to expense for the last couple of years accumulated one. This will come around half million and it will really affect the profitability of the firm. So my question is company can show the gratuity provision this year in full and charged to expense for the previous years in current year financial statements? Or Company can show each year 25% and complete this within 4 years? Or Company can show this as prior year adjustment and show the full amount as current year expense Or Company can create an head like prior year adjustment under noncurrent asset and portion of these will transferred to expenses each year