Dear All,

My company is paying fixed medical and Leave Travel allowance to the employee, which is payable after deduction of TDS. Is there any exemption under medical and leave travel allowance . If yes under which section of the income tax act.
Remember that amount is not reimbursed by employer.

Comany has contract with other co for transport of goods, driver of the truck is providign form no. 15I,however bills are raised by the transport company,
Whether TDS is deducted or not? & the same question is in applicability of Sec.40A(3) for payment exceeding Rs.20000.

We are paying Interest on Mumbai Muncipality Cess for 1998-2004 on 24/02/09. whether deduction is available under business income.
For period 2005-2008 Interest has not been paid but it has accrued. Whether deduction will be available on this?

Thanks & Rgards,
Abhishek

sir/ madam,

my bonus and ex-gratia amount declair but company said that this amount will pay to you in may 2009, so can this amount will be added in my salary when i calculate my taxable salary for the f.y 2008-09.

if return is filled on 02/02/2008 and due date of filing return is 31st July,2007 and Self Assessment Tax is paid on 07/07/2007.For how many months interest u/s 234A will be charged?pls rply its very urgent

Dear All,

Please let me know whether Dumper , Tractor are considered as Machinery or vehicle as far as TDS u/s 194-I is concerned.

Thanks in advance

Anand

Dear Friends, I have a practical issue. If I paid interest on Partners capital in FY 2005-2006, then is it necessary to pay it in 2006-07 also. Case is wrt exempted areas, and hence the AO objecting is that we are inflating profits and hence disallowing that much amount. I want to know the legal points involved in this matter.

Whether an educational institution(MBA)like IIPM, IFCI or any other such institutions providing laptops to students are liable to under FBT provisions?

I HAVE DEPOSITED RS. 120000.00 TWICE AS TDS ONE IN 07-08 AND OTHER IN 08-09

HOW CAN THIS BE ADJUSTED

Our company reimburses to employees for fuel, telephon, vehicle running & maint.(including drivers salary) on the basis of supportings vouchers, which is actually a part of salary.

My different questions are :
1. Can we book the amounts as "Fuel Reimbursement", "Telephone Reimb", "Veh. R/M Reimb" or we should book directly under "Fuel expenses, Telephone Expenses, Vehicle R/M expenses".
2. Since all these reimbursements are paid to individual employees as per grade entitlements fixed, if we opt for paying FBT on these, will there be any problem in justifying that why we are not taxing it to individual employees and paying fbt on that.

3. In case of vehicle, our company also incurrs expenditure on pick/drop of employees by hiring out cabs/buses. Company also incurrs expenditure for other offical travelling (hiring of cars and expenses on owned cars) expenses done for employees, customers, etc.

Whether these expenses will also be covered under FBT along with depreciation on owned cars + expenses in point no. 1.