As per law if any charitable trust made some capital expenditure for charitable purpose, it will be treated as sufficient compliance for application of income for charitable purpose as per senction 11 of the Income Tax Act.

My question is whether the depreciation provided on that assets would also be treated as application of income for charitable porpose.
and if yes, would it not be a case of double befefit of an expenditure.

As per Income TAx Law, we have to apply minimum of 85% of our income in the previous year in order to claim exemption u/s 11 (being a charitable trust)

My question is What is the meaning of income over here? Is it the Surplus as per income and expenditure account or is it the total of credit side of the Income and expenditure account? i.e. of which amount we have to apply atleast 85% - 1. Surplus as per Income & Expenditure Account. or
2. Total of credit side of the Income and expenditure account.

Hi Dear.. One of my friend is in UK for company's project for 2 months.
he is getting salary here and it credited to his account in india as
well he is getting per deim in uk and it get credited to his UK account.
now as far as FBT concern his company is not paying any FBT on
travelling they recover it from employee. in this case do he need to pay
any additional tax in india???

Nazir

Please send me the new Format of Form 16

If Telephone Allowance is provided to employee then it is taxable under FBT or not?

Respected Sir,

Finance Bill' 2008 has been passed by the Parliament or not.

Pleae guide me. Because i want to buy the ready reckoner. and on which date.

Thanks

Who can issue 197 exemption certificate

My client retail trade of Garment Bussiness
Garment purchase from Aditya birla n Ltd
payment after 45 day of purchase bill.
after 45 days payment Aditya birla ltd 24% interest charge .pls proceess in incometax & account book

Dear Sir,

We are Civil Contractors we are getting moblisation advance from Contractee( Govt / Private) They are deducting interest on moblisation advance from our running account bills

we have to Deduct TDS or Not. since we are not paying any interest directly to them they are directly deducting from our running account bills bills

sir

TDs of same deductee is paid with surchage in quater 1 & the same person without surcharge for other quaters. Is it correct. What are the consequences of it