Dear Sir,
I had taken an Insurance policy and paid the first premium amount on 29.03.2008. The provisional receipt generated is also of the date 29.03.2008. but in the policy documents the policy is shown to be issued on 10.04.2008, please confirm me whether I can claim the deduction u/s 80C in the F.Y. 2007-08, or no as the policy documents are issued in the F.Y. 2008-09.

Dear Sir,

1) Our Company is giving Medical Allowance of Rs 15000/- as part of Salary Can we Claim deduction Claim Exemption if yes than how much is and for that any proof is to be provided.

2)Is FBT is Payable by the Company on the above Medical Allowance.

Regards

Ravi Konda

Dear Sir,

My Client has business of giving on hire basis Road Roller, Excavator, JCB Machines etc.All above are owned by My Client.His annual income is below 40 Lakhs.
My query is whether he can filed his returned U/s 44AE or it is considering as hiring of Machinery and comes under Income from Other Source or Hiring income under Business Head and he has to prepare P& L A/c & maintain Books of A/c? Pl. Reply

dear sir,

please tell me the difference between Ltd. COmpany & Pvt. ltd.co.

Sir
I would like to know that whether TDS receivable for say 2004-05, which was not ascertained prior to filling return of Income can be adjustable in FY 2005-06 I Tax.

Thanks/ Bhuniya

if assessee deducts TDS on Expenses short and the short deducted amount pays before the due date of filing are such expenses are disallowed u/s 40(a)? and is it must to disallow?

Whether 40(a) disallowance as per income tax is applicable even for short deduction of TDS on Expenses? if yes is there any cases standing for that? and also the assessee if he pays the balance of TDS before the due date of filing with interest still it will be disallowed??

As per law if any charitable trust made some capital expenditure for charitable purpose, it will be treated as sufficient compliance for application of income for charitable purpose as per senction 11 of the Income Tax Act.

My question is whether the depreciation provided on that assets would also be treated as application of income for charitable porpose.
and if yes, would it not be a case of double befefit of an expenditure.

As per Income TAx Law, we have to apply minimum of 85% of our income in the previous year in order to claim exemption u/s 11 (being a charitable trust)

My question is What is the meaning of income over here? Is it the Surplus as per income and expenditure account or is it the total of credit side of the Income and expenditure account? i.e. of which amount we have to apply atleast 85% - 1. Surplus as per Income & Expenditure Account. or
2. Total of credit side of the Income and expenditure account.

Hi Dear.. One of my friend is in UK for company's project for 2 months.
he is getting salary here and it credited to his account in india as
well he is getting per deim in uk and it get credited to his UK account.
now as far as FBT concern his company is not paying any FBT on
travelling they recover it from employee. in this case do he need to pay
any additional tax in india???

Nazir