Sir,
Encashment of Earned leave is exempted to the extent of 3,00,000/- at the time of retirement. Balance if any is taxable under the head "salaries".

If a PSU is providing rent free residential un furnished accommodation, whether the encashment of earned leave (actual amount-300,000) and half pay leave at the time of retirement should also to be considered for calculation of perquisites?
Kindly clarify whether encashment of leave should also to be considered as salary at the time of retiremnt for calculation of perquisites.
If that is the situation, there will be more tax on account of perquisites at the time of retirement of an employee. In such a case, employee better to vacate the house before the year of superannuation to avoid the incometax.

Hi,

Our Company is giving Rs.25,000/above Rs.25,000 as a gift.

It is chargeable to tax, so straight away 30.90% will be deducted as a tax.

Can any one provide better way for receiving this gift (under any other form) so that minimum tax will be deducted and we will get maximum out of Rs.25,000 ?????

Whther there is any scope of saving tax by paying FBT ????

Do one have to file any income tax return in realtion to tax deposited under dividend distributed tax as we file quarterly returns in reation to TDS.

As per Scrutiny selection norms , income Less than 5 % on contract exceeding 1 crore is selcted for scrutiny. But Is it fair to select scrutiny even declaring income from contract exceeding 5% for firm before interest and remuneration for partners for assessment year 2006-07?

Kindly let me know that from which date the new format of Form 16A is applicable.

Thanx

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is tds deductible on pmt of upfront fee to a company abroad which is subsidary of indian company

I have a query whether one can claim deduction of the principal amount of housing loan repayment u/s 80C during the pre-construction period as there is no specific guidelines in relation to this unlike in the case of interest paid during the preconstruction period.

i want to know the applicability of tax rate to derivative & future & option along with if any caselaw,section refernces????