Hi

Can a unit in STPI shift its employees to SEZ? Will it have any impact on tax front?

Facts of the case:-
1) "J" is an HUF as on 31/10/1978 engaged into trading of onions; which is partitioned on that date and existing immovable properties were maintained in the HUF; cash being distributed between J,(Mother) R, S and C(Sons){All unmarried sons}. There is no cash in hand as on that day with HUF.

2) On 1/11/1978 a partnership was entered into by R, S and C (Sons) for carrying out the business which was originally HUF business prior to this date.

3) On 28/04/1980 agri land was purchased in the name of Mr. R and S for Rs. 33000/- (within city limits)However, the sources of funds are not properly accounted for at that period.

4) The partnership was dissolved 31/03/1989 and consequently Mr. R and S are not filing their returns since they have no taxable income and have no PAN also.

5) Today, the land is to be sold and the proceeds are to be distributed among the brothers. Expected sales value is Rs. 3 Crore.

6) The question is how to account for the share to be given to Mr. C who is not owner of the land however, who has claimed his share since in his opinion the land is acquired out of the proceds generated through common source and hence he is entitled to the share of sale proceeds; all brothers have agreed to it.
What treatment is to be given for I.T. Purpose.

Please clarify the following

1. Whether Leave Encashment is taxable which is paid to employee at the time of full & final settlement on his resignation.

2. Whether Leave Encashment is taxable which is paid to employee at the time of his retirement.

Regards.

Manish Jain
mjain@lc.jkmail.com,manishambika97@gmail.com

Please clarify the following

1. Whether Leave Encashment is taxable which is paid to employee at the time of full & final settlement on his resignation.

2. Whether Leave Encashment is taxable which is paid to employee at the time of his retirement.

Regards.

Manish Jain
mjain@lc.jkmail.com,manishambika97@gmail.com

As per the IT act advance tax on FBT for the quarter ended december 07 is payable on or before 15 december07.
However as per ready reckoner of VG MEHTA the FBT Advacne tax is payable on 15th january 08.
Why the contradiction?
RElying on the ready reconer I have not paid FBT for the december quarter on 15/12/07. So what is the recourse for any? if any

As per the IT act advance tax on FBT for the quarter ended december 07 is payable on or before 15 december07.
However as per ready reckoner of VG MEHTA the FBT Advacne tax is payable on 15th january 08.
Why the contradiction?
RElying on the ready reconer I have not paid FBT for the december quarter on 15/12/07. So what is the recourse for any? if any

Hi Friend

one of our NRI client has foreign income of worth 5 crores .
He wants to bring that money into india.

The problem is that the person wants
to bring in as white money not by way of any money laundring or any thing else.

And also he dont want to pay any taxes.

WHAT TO DO?

ANY SUGGESTION OR IDEA

Dear Sir

Plase advise me that is Tds application of Professional fees paid to CA for attending Income Tax case ?

In support to it porvide me circular/notification.

Regards


Baljinder Singh

The assessee has not filed form no 56 F along with return of income to claim deduction u/s 10A of I T Act 1961. The deduction was disallowed by ITO . What should we do next in order to claim this deduction

Who will issue TDS Certificate, company deducting TDS or NSDL?
and is it compulsory for company to issue tds certificate?