Sir,

I am confused. Yesterday i got two opinion stating Driver's salary should be included in vehicle running & maint exp.

Please refer to "CIRCULAR No. 8/2005, dt 29/8/05 of Fin Act, 2005.

Point No. 78

Reimbursement in respect of car exp on the basis of bills submitted & driver's salary on the basis of declaration :

such reimbursement is effectively exp of employers for the purpose ofconveyance, tour & travel covered in clause (F). SO IT IS A CONVEYANCE EXP.

Point No. 87

Salary paid to driver of a motor car :
is a vehicle running & maint exp.

THE ABOVE TWO POINTS ARE CONTRADICTORY.

CAN U URGENTLY CLARIFY.

WHAT IS THE CORRECT TREATMENT?

Thanks

Subhash

If I made an investment in the bonds under section 54EC before expiry of 6 months, by way of cheque and the stamp on the bond is of the date of submmission of cheque. but, if the clearance of cheque is after the date of expiry of 6 months will i be able to avail the exemption? the assessing officer denies to grant the exemption. please resolve as soon as possible.

Which is the best insurence plan to mainimise the individual income tax

Hi

What is Professional tax.
How can I deduct from salary.
Tax slab
Location Slab Deduction
---------------------------------
CHENNAI 0 21000 0
CHENNAI 21001 30000 75
CHENNAI 30001 45000 188
CHENNAI 45001 60000 390
CHENNAI 60001 75000 585
CHENNAI 75001 5000000 810

if a emp left in may & his gross salary is (32880) for Six month & (10960) for Apr & May (Two Month) than which slab applicable.

If a emp not working 30 or 31 days than i can deduct P Tax.

What is the difference between sales and turnover?

Dear Experts
Dealer has paid to interest monthly Rs.3000/- its applicable to 194A section? Please cleared me

Respected Sir,

Suppose if I had Deducted and paid excess Tds u/s 194C then

A. Can I adjust it against future payments to same party (deductee),

B. Can I adjust the same against payments to other parties (where Tds is Deductible u/s 194C only)

C. Can I adjust the same against payments to other parties (where Tds is Deductible under any other section other than 194C)

D. If yes, then can I do the same in respect of excess computation and payment of interest on late payment of TDS

whether FBT is chargeable from an entity even if its Income is exempt under a double taxation avoidance agreement?

Can the NRI enjoy the benefit of indexation for selling of mutual funds in indian rupees.

Hi every one,
I was undergoing articles where in, i was encountered with the following problem

Facts of the case:
a)x & y - Both of them are hubsand and wife,
b)Mrs.x, owns a property
c)It was given on rent to his husband, Y
d)The house property is being used by both of them for self occupance purpose but not for any other purpose
e)y is paying monthly rental payments to Mrs.x

1)My question is whether it can be treated as source in the hands of Mrs.x
2)If the above, is correct whether it is chargeable under the head "House Property" in the hands of Mrs.x
3)What will be the situation if "Y" is in reciept of HRA & what if not?


Please help me out from this problem
I look out for our response much earlier as possible
With regards,
K.Vinod.


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