If the labour charges paid during the year by a construction firm is Rs.50lacs & above.Wat would be the Tax implication & what are the documents to be maintained.Pls reply

Situation 1:
If a Male is earning Rs. 1,10,000 p.a from income from salary and has earned Rs. 1,00,000 from STCG(STT Paid) in the financial year 2007-2008 and will get deduction of Rs. 1,00,000 from 80(C).Income would be excempt from any taxation or not???

Situation 2:
If someone is earning Rs. 1,10,000 p.a from income from salary and has earned Rs. 2,00,000 from STCG(STT Paid) in the financial year 2007-2008 and will get deduction of Rs. 1,00,000 from 80(C).How would the tax be calculated in this case??

A client wants to import telecom towers from china to India and then sell it to variour telecom operators.
Is there any tax incentive available on such trading.
Or there is any other way of doing this business so that any tax benefit can be availed.

hi !
all

plz advise me on the following matter:

my company reimburse conveyance expenses of residence to factory every month.
whether it is taxable? and if yes under which section of I.TAX ACT and in which hand employee or employer?
rakesh kumar

COMPANY MADE GIFT TO CUSTOMER IN LUCKY DRAW SCHEME UNDER SALES PROMOTION
THIS ENTRY INCLUDE IN SALES PROMOTION OR GIFT.
WHAT IS INCLUDED FOR THE PURPOSE OF GIFT
GIFT TO EMPLOYEES
GIFF TO CUSTOMER
GIFT TO GOVERMENT SERVANT

vineet,

tell me under which head this business falls?

2nd, realised from the shpr, meaning?

shpr wl not pay service tax on profit margin earned by xyz. shpr pays thc on which service tax is applicable which xyz collects from the shpr and pays thc with stax to the shpping line. here xyz acts as a postman. doesnt pocket anything.

nobdy cnfms 100% that this business attracts servce tax or not.

pl adv.

1 EXP ON MOTORCYCLE EXP & DEPRECIATION.

2 TRAVELLING EXP RS. 10000/- INCLUDE
Rs. 4000/- Hire Charges of Car
Rs. 3000/- Hotel Charges.
Rs. 500/- Taxi Charges.
Rs. 2500/- Fooding Exp at Branch During
Business Hour.
WHAT AMOUNT OF TAX?

3. VECHILE RUNNING EXP.
A TWO JEEP IS PURCHASE FOR TRANSPORT
OF GOODS FROM FACTORY TO SHOWROOM.
B NEW JEEP PETROL EXP (FROM GODOWN TO
SHOW ROOM)
4. A WATCH & SUIT (SAME COLOUR)GIVE
TO OFFICE STAFF FOR OFFICE DRESS.

then vineet,

service tax wl be on the gross profit ?? is there any slab? how it wl be if gross prfit is 20-25 lac? any interest liable now as still stax not paid.

pl adv.

one of our client has taken photostat machine on rental basis from photostat shop, kept at place of client. the only consideration being paid is in the form of a fixed charge, say 0.25 piase per copy for photostat and the material being paper sheets is being fed in the macine by the client. my question is

1) does this attract tds under 194I as rent for equipments or u/s 194C as tds on contract.

2) if we fall in definition of rent u/s 194I, then if our liabilty does not arise due to payment does not exceeding 120000, then are we covered u/s 194C as residual section or there does not arise any tds liabilty in that case.

Free educational facility provided to the employee children --if iin a pvt. school bills are reimbursed by employer up to rs .1000/-month whether exempted perquisite?

and employer has top pay FBT.??on staff welfare.