Please let me know the tax treatment in the following case of full & final settlement payment to an employee.

Gross Payment(including Leave Encashment for 45 days):Rs.100/-
Notice Pay Deduction for 45 days:Rs.20/-
Net Payment before Tax:Rs.80/-

Can the leave encashment inflow and notice pay deduction outflow be set off,both being internal company policy related matters,and therefore tax be computed on Rs.100-Rs.20=Rs.80.

is it right that the due date of filing of ITR is extended till feb-08....
is it possible assesee to fill there ITR without Any interest..234(b,c)


Regards,
Rajan Kapoor
e-mail rajankapoor83@yahoo.com

Our company in pay slip the following allowance given, in that which is taxable or not, how much is allowable exmption ? please sir,

Individual tax computaion:

1.Uniform Allowance
2.Vehicle maintenance reiumbursement
3.Children education allowance
4.Books & Periodicals
5.Medical reiumbursemet
6.petrol allowance
7.reiumbursement of club& food

please sir, what is taxable allowance and how much taxable ?

Respected Sir,

My father wants to transfer liste company share to me without any consideration,
will it be taxable for my father?

thanx & regards
Ghanshyam

personal tax computaion

Employees bonus will be taxable &

What about Exgratia?

Exgratia will be taxable or not ?

Please sir

Sir,
I want to know whether i can claim both HRA and Interest in housing loan in the following case:

I am working in Delhi and paying rent on the house residing in Delhi. I have purchased one house in Mumbai and my parents are staying over there.I pay interest on the loan borrowed to purcahse house at mumbai and i dont receive any rent from the property in Mumbai as my parents are staying over there.

Can i claim both HRA on the house at delhi and interest on loan borrowed on the house in Mumbai.

Hi,

Can u please let me know the complete procedure to start a new HUF and get a PAN for the same.

Regards
Chandan

Sir,
A assessee has purchased goods from parties. The AO asked to produce the parties for verification. The parties not appearing before AO. The AO on the basis of some information claims that these parties are bogus parties and have only supplied bills and not actually deliered goods to the Assessee. This information is based on the basis of statment obtained in a search cases wherein the that person has stated that he has taken bills only and not goods and supplied list of these parties. In this list few name of parties are same from whom the assesee has also purchased goods. But there is no denial of our parties that they have not supplied goods to our assessee. The confirmation statement, PAN and TIN of our parties submitted.
Is any High Court decision in this regared, that the assessee is not under compulsion to produce the parties and what ever could be posssible at the assessee hand has been done, now it is for the Department to prove with positive evidence that these parties are bogus and have not supplied goods to our assessee. What action should be taken by the assessee in this matter.

R K Dhandia

Dear sir ,

I am not getting the details for the last of return filing is 29th Feb08.If some one file this return by this time will not have to pay interest u/s 234A or last date for vaild return for 2007-08 reschedule to 29th Feb instead of 31/03/08 .

Jayanta Chowdhury

A Assessee has disallowance under section 40a(ia) of the income tax and Rs. 50lacs has been added to the income and demand notice has been issued.how can I take relief from the above? is there any judicial pronouncements providing shelter from this section.Please mention