Hi
I have one problem kindly suggest. My company has organized a annually day party and organized a conference regarding the future plans of company in india . My doubt is this should we deduct TDS on party expenses and pay FBT on it however I have billed all the expenses to My US parent company. if yes kindly suggest.

Plz any one can mail me TDS RATE CHART and FBT RATE CHART.
mail id: samvu.zha@gmail.com
obliged.
thanks & regards,
shambhu jha

1)Can a person gift money to his spouse without attracting Sec.64 of the Income Tax Act ? Note that the person does not genuinely would want to have any right over the money given to his spouse



2)A person has given money to his wife. The wife invests the money in NSC. In the given case Section 64 of Income Tax is attracted for the interest accrued on NSC.



I would like to know whether the person can claim deduction u/s 80C for the money invested in NSC. Note that the NSC certificates are in the name of his wife.


Kindly answer pointwise in the order question is being asked.Thank you.

a EMPLOYEE asking for FORM -16 for the 07-08.He withdrawing salary of Rs.25000/- (Basic- 12500, Conveyance Allowance- 2500, Medical -1500/-, HRA 8500,). But employer didn't deducte any TDS on the same. what the matter to be considerd for issuing FORM 16.
or just simply filling up the prescribed form and get it singed by employer.

Thanks & Regards,
Shambhu Jha

If a partnership gets converted into a private limited company as going concern concepts with existing partners as directors will the Permanent Account Number will get change ? Pl advise.

Whether depreciation on motor car is deemed fringe benefit?
If yes, hou can we calculate value of fringe benefit? As per Income Tax Act, depreciation of all fixed assets is to be calulated in block method. And, under block method, we cannot find the depreciation of motor car seperately.
Please, any one, give me an answer for this !

Whether depreciation on motor car is deemed fringe benefit?
If yes, hou can we calculate value of fringe benefit? As per Income Tax Act, depreciation of all fixed assets is to be calulated in block method. And, under block method, we cannot find the depreciation of motor car seperately.
Please, any one, give me an answer for this !

Husband's(H) gross income is much higher than wife's gross income. Wife(W) gives her professionally earned money to Husband (H). H opens FD with bank & invests remaining part of that money in stock markets on his name. Bank deducted TDS with H PAN and all transancation done in stock market are with H PAN.

Does the income from FD and stock market investments belongs to W for income tax purpose? Please note that H's individual gross income is higher than W's individual gross income.

The IT Act provides for 60% depreciation on computers, but the word computer has not been defined. My question is, whether computer accessaries, like printers/scanner/UPS etc. should be debited to computer A/c to get benefit of 60% Depn. or it should be classified under Office equipments (eligible for 15% Depn.)
Further, will it make any difference if these items are purchased along with computer or bought ubsequently/separately.

Whether HUF can be formed by Couple having no childrens?