One of my Group Company likely to form a Employee Welfare Fund (EWF) for the benefit of the employees.Company will deduct few percentage of salary from all the employees after the declaration and Company also contribute large amount of funds to the EWF. Now question is whether that amount is allowed as deduction under the Income Tax Act or not, if yes, under which section

Dear experts

Could you please let me know the language of certificate regarding 'opening balances' and 'balances of Debtors & Creditors' to be obtained from a proprietorship concern for the purpose of tax audit. The assessee is for the first time under tax audit.

Thanks in advance

Section 2(14)(iii) of the Income Tax Act, 1961 clearly defines the agricultural land. the definition is in relation to the location of the land in certain area. If the said test is satisfied then the land is clearly comes under the definition of Agricultural Land. Such land is hence not capital assets whether the same is held for the period of less than 36 months or more.
when the act clearly defines the agricultural land, why is then the attempt being made to provide certain guiding factors for determining the whether particular land is agricultural land or not.(As decided in case in gujarat High Court in CIT vs Siddharth J. Desai(1982) 10 Taxman 1.

Even I could not understand the relevance of the section 54B, which provides for exemption in respect of capital gain arising transfer of agricultural land.

when once the agricultural land satifies the conditions specified in para 1 above, what is the sense in putting the said land to test as specified in para 2. And when the said land with reference to section 2(14)(iii) is not capital assets, how the section 54B will come to rescue?

1) Please Can Anyone Provide me Excel Formate of Form 16(For Salary)

2) If Salary is 25000 pm & Only P.tax is deducted & Rs 5000/-PM separately for the Travelling & Mobile Expense is provided then what should I deduct as TDS PM from Salary.Please Provide Working.

Thanks a lot for your kind reply. but I hv still some doubt so now I m writing a detailed situation.

A is purchasing goods from a party X. B is appointed to pay octroi for wheneve goods come. A is paying octroi to B. Who (B) is not a transporter. whenever B pays octroi on behalf of A, he gives his own bill (not octroi receipts) to A and mention octroi charges along with his service charges than A pays him all amount in cash. Most of Amount belongs to octroi duty. some time it exceed 20000/- in a day.noe tell me the proviso of Sec 40A(3).

Hi Sir,
I worked at a company in Mumbai for 5 months. They cut around Rs. 2800 TDS from salary every month but have not yet provided me Form 16 despite multiple attempts to ask them for it. It has been over 1 year now. The company mis-treated me badly before i left, and i think that the reason they are not sending Form 16 is because they are not a registered legal company (i.e. they are not filing returns properly). They seem to be using a different office address and maybe also a different company name from among their many fake company names. What complaint/suit can i file against them?

SIR,
A PERSON HAS A NURSERY AND FROM IT HE IS SELLING PLANTS. NOW HE HAS NO ANY OTHER INCOME. WILL THE INCOME FROM THE BUSINESS BE TOTALY EXEMPTED?

Good Evening everybody,

A disputed issue needs suggestions and strong case laws -

ABC Warehouse Pvt. Ltd. has been formed for doing business of warehousing and let out of godown. Its MOA & AOA mentions warehousing business as main business activity. The company is not involved in any other activity.

They have constructed 2 godown buildings simultaneously, by rasing common loan from bank.

1st godown building has been used in for purpose of grain godown warehousing, where various grain bags are kept in safe custody and warehousing rental charges are recovered for the said service from various customers.

The second godown, has been let out on rent for limited period to another company by entering into rent agreement .

My opinion is , income from both the godowns should be taken under the head income from business because the basic objective of company is to conduct business of warehousing & let-out of godown, hence I want to take a stand that godown buildings are used for the purpose of our business and hence will not fall under Income from House Property.

This issue has a record of dispute under income tax and in most of cases, the judgements suggest that such type of income will be taxed under the head of house property.

Kindly share your view on above situation.
Thank You

Should we deduct TDS on payment of Rs 20000 or more p.a to faculty of an oral coaching centre as honrarium cum conveyance bill??

Dear Sir,

I am an accountant and worked with Digicable Network Pvt. Ltd. Company as a data entry operator. I am worked in store and raised a monthly bill Rs. 19500.00 and mentioned on bill "Being Charges for data feeding for store receipts & issues".

My Yearly Income is Less than 10,00,000.00

I asked only two question regarding this matter.

1. What tds rate will applicable on my bill.

2. What Ledger to be made for booked of Expenses.

Thanks
RAM CHANDER