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.


3)

One of our company director is going to Hongkong for training on a particular machine for which we need to pay an amount of 500 Euro to a German company. Is TDS required to be deducted from the remitance of 500 Euro to that german company under Sec195 of the income tax act.

I am an employee of a company. We have received the following circular from our HR department.

Is it right, bcoz as per Income Tax Act we can give exemption up to 50 rs per day only?

I am calculating tax on salaries of all the employees of the company. so i want the answer.

Whether we have to pay FBT on the same?



HR/PERS/ACCOR/2008
Date: 25/11/2008

CIRCULAR

Sub: Income tax benefit for employees by providing Accor Meal Vouchers.

Dear colleagues,

In our continuous endeavors to provide maximum income tax free salary to our employees, we hereby propose to provide Accor meal vouchers every month as part of CTC.

The details are as under:

a. The Accor meal vouchers will be provided to all the employees, as per the consent taken from each employee in writing.
b. The maximum amount allocated for the coupon will be as under:
I GM & above - Rs. 3500/- per month
II Dy Manager to Dy GM - Rs. 2500/- per month
III Upto Asst. Manager - 2000/- per month

c. The above amount will be adjusted from canteen coupon reimbursement and remaining amount from special allowance of CTC.
d. The Accor meal voucher will be in form of booklets containing voucher of value in denomination of Rs. 5,10,50,75
e. The Accor meal voucher will not be taxable in the hand of employees as well as no FBT is to be paid by the company.
f. The Accor meal voucher can be used in number of food outlets across India and can be used as mode of payment for
Purchase of services / food instead of paying cash.
g. The frequently asked questions with their reply are as under which will give full clarity in the matter.
h. The distribution of coupons at Ahmedabad will be through Facilities department and at branches will be through one of the
Specific representative whose name will be declare with in short period.
i. The ticket restaurant all India directory i.e. where coupon can be used, is available on circle D.

The scheme is voluntary and hence those who are interested in availing this scheme so as to save income tax may send / give their consent within four days, stating their ;

1. Employee No.
2. Name
3. Designation
4. Department
5. Place of posting

On mail id employeecare@x.com or to Mr. A - Executive – Personnel

Hope this newly introduced system of meal voucher will be useful to our colleagues and will take benefit to save their income tax.


Thanks & Regards

XYZ
Vice President-HR

Can Capital gain or Loss arise in case of Transfer of Land (Capital Assets) in exchage of another land?

Dear Friends,

One of our client had received some cash loans which could not be proved up to the satisfaction of the Assessing Officer. The same was added back with returned income and the assessee paid the demand raised. Now the question is what to do with the outstanding amount in Loan creditors account. Can the assessee transfer the amount added with the income to his Capital Account. There should not be further tax liability. Your views please.

Dear Sir,

My client is running business in boarding and lodging. We hire taxi from the travels to pick and drop the guest from and at the airport. Sometimes we even hire taxi to take them to several places. Should we deduct tax on the payment to the travels?

The manager of the hotel is paid Rs.18000/- pm as salary. Should we deduct tax on the salary? To what extent is HRA deductable?

Kindly advice

Regards,
Priya

four persons are cometoghethere purchae a land & there shares are equle after some time they sold the same land & take ther share from purchasers independently the AO assessed as an AOP because they are come toghether for purchase & sales of land
whether AO is right to assessed as an AOP or not
give the case laws or citations
thanks

If i transfer my all equity shares to portfolio wherein such shares are traded by Portfolio Managers.
I don't have any other business income. what shall be the nature of profit/loss which i have earned through portfolio?(either capital gain /loss or business income/loss).
please reply me with reasons.

whether the provisions of sec. 269ss & 269T is applicable to primary agriculture credit society