Whether tax liability will arise if total income of a lady is Rs.90000/- in the financial year 2005-06 & Rs.90000 full of Long Term capital gain.

Hi......
Can any body help me out.

Whether conveyance allowance includes leave travel allowance and its treatment as per IT Act.

Hurry....

Is there any difference in the fringe benefit rate for "conveyance" & for "Tour & travels".

Please let me know the following:


1) When (Timing, NOT purpose)should form 15G and 15H be collected from persons to whom interest or dividend is payable?


2)Should one submit to IT department just the DETAILS of persons from whom Form 15G and 15H are collected OR one should submit the FORMS COLLECTED itself?


3)If Forms collected are to be submitted/filed, should one submit the ORIGINAL OR PHOTOCOPY?


4)When(Timing, NOT purpose) they are to be filed at IT departemnt? Can it be sumitted in electronic form?

Suppose we have to deduct TDs on transport for a Contractor say ABC and the Bill received is for Rs. 25000/-

The usual Entry will be
DR CR
Transport charges 25000

ABC 25000

and later on we pass TDS Entry as

ABC 515

TDS Payable 515

But now they want to pass only single entry

Transport Charges 25000
TDS 515
ABC 24485

If this is correct or not and How will the Service Tax be effected if it has to be paid by us.

and the same if we pay the amount first as advance then how to make the TDS deduction

Assessee makes payment for transportation charges for carrying machinery from the place of manufacturer to his own place Rs.250000/- and TDS not deducted on payment.
What will be the effect u/s 40 a (ia)?
What will be amount of dis allowance because assessee has capitalized the transportation charges in machinery account?

what is the fringe benefit tax . what type of expenses included in fbt. what are the rates . please tell me

Sir,

1) The assessee is a registered firm engaged into the business of construction of residential and commercial premises and also holding a two star hotel.
2) Due to financial indebtedness it has almost closed the business. Most of the properties are either auctioned or attached by the banks and financial institutions
3) It has filed its returns for A.Y. 2004-05 and 2005-06 on 31/3/2006 declaring the losses of Rs. 24 Lacs and Rs. 18 Lacs.
4) Out of the above return for AY 2004-05 was selected for scrutiny. The assessee (Managing Partner) being in financial and consequently mental trouble failed to respond to the notices.
5) Best judgement assessment was made and tax liability of Rs 15 Lacs was determined. No apeal was filed within time permitted.
6) TRO had started the recovery process and considering the facts of the case had given the concession to make the monthly payment of Rs. 25000/- most of which are paid by the assessee regularly.
7) A order imposing penalty @ 300% is also passed by the AO.
8) What are the remedies available now at this stage with the assessee.
9) Can a penalty be imposed against the additions made at random during the best judgement assessment.


Thanks in advance.

Sir,
I have taken loan from my relative for purchase of House. i am paying interest to him and claiming deduction u/s 24 for interest on self occupied property. Can I show it to my employer and claim loss u/h house property at source. I think u/s 192 employer can consider income including loss u/h House property. Please guide.
Thanks
CA. Sandeep Aggarwal

is Non Refundable Withdrawal from PF (after 20 years of service) taxable in the year of withdrawal?