Kindly let me know that benifits of scheme of integrated textile park (sitp) which annownance in budget 2008.
in this budget gov. going to be open 30 taxtile parks in 2008.

so i want to know that what will be benifit to the textile unit.

Thanks
ca megha gupta

Confirm notifcation no on which Genreal Cenvat reduced 16% to 14%

i am receiving rent from reliance compan y for giving Terrace for fixing antina for network. my doubt is in which head rent include for income tax canculation .

we have a company and there is one subsidiary of this. parent company has made payment through account payee cheque payble to a land owner for purchasing the land in the name of subsidiary company. Is this book entry in the books of parent company as loan given and in the books of susidiary company as loan taken is against the section 269SS of income tax act

Q1) kindly explain the consent of Employer- Employee Insurance and also highlight the relevant sections of Income Tax Act 1961 applicable for:-


a) Tax Exemptions in Employer- Employee Policy.
b) Fringe benefit Tax is applied?
c) Assignment
d) Maturity/ Death proceeds after assignment

Q2). If assignment of Employer Employee Policy is done to the employee just before the end of 3 years how will that be possible as the surrender value for the first three years is nil as per the policy term but employee purchase the policy on Guaranteed Surrender value.

The employer –employee policy shall have surrender value of the first three years premium have been duly paid. So can one assign the policy just before the premium payment of 4th quarter of third year? How will the whole arrangement work out, especially in the terms of surrender value, please explain?

Q3. If the assignment is made for a surrender value, would the Surrender Value is taxable? And in whose hand, the Empolyer or the individual.

Q4. After the Employer- Employee policy has been duly assigned, what shall be the scenario now:-

A) Who would receive the death claims, if accurse and would be same tax free?
B) Would the maturity proceeds do the Employee who has been assigned this policy and would the same be tax free in his hand?

Please send me your opinion as soon as possible.

Whether FBT is applicble to the individuals & HUF or not?

If a CHA raises an invoice for shipping dues,port wharfage & other port dues for a consolidated amount without giving any breakup for these charges in the invoices,what is the rate of tds applicable in such transaction.Either 2% treating whole amount under 194C or 20% treating whole amount against hiring ( i.e. port wharfage )

If u find any problem in understanding this point bcoz of my language write me back

whether running a pathology laboratory is business orprofession for 44 AB

Dear all
Should we not have a discussion on the budget 2008-2009.
How was the budget 2008-2009. Give justifications to your answer.

Reduction general cenvat form 16% to 14% is it means excise duty reduced for all except special reduction for two wheeler,purify item etc.