Hi All
prof. tax ded. by an employer monthly but forgot to deposit for one month although recovered from emp. salary. what an employer should do?
can he deposit it late( with or without fine)?

Thanx

hello everyone
if a home loan is taken by the employee from its employer bank and int charged to employee is less than charged to any normal a customer of the bank.
1)rebate in int is to be treated as perk in the hand of employee.is it correct.
2)whether he can claim the deduction for int on loan. he has acquired home with the amt of loan but till date has not paid any installment for the same.amt of int is accruing in his loan account..
pl. suggest
thanks in advance

hello everyone
if a home loan is taken by the employee from its employer bank and int charged to employee is less than charged to any normal a customer of the bank.
1)rebate in int is to be treated as perk in the hand of employee.is it correct.
2)whether he can claim the deduction for int on loan. he has acquired home with the amt of loan but till date has not paid any installment for the same.amt of int is accruing in his loan account..
pl. suggest
thanks in advance

hello everyone
if a home loan is taken by the employee from its employer bank and int charged to employee is less than charged to any normal a customer of the bank.
1)rebate in int is to be treated as perk in the hand of employee.is it correct.
2)whether he can claim the deduction for int on loan. he has acquired home with the amt of loan but till date has not paid any installment for the same.amt of int is accruing in his loan account..
pl. suggest
thanks in advance

is medical allowance an fbt item?

Hi,

Please let me know if a business is shutting down temporarily & its assets are not in use for the time being (approx. 8-12 months).

1)Can we provide depreciation on that assets in the books?

2) can we claim depreciation as an expenses while calculting business income for Income Tax purpose?

----Ankit Doshi

This financial year, our company is falling under 30% tax bracket as there is no depreciation.

What are the ways to minimize the Income tax liability?

Thanks!!

Hi friends,

Please clarify whether FBT is applicable in the following case:

If a company reimburses conveyance expenses incurred by the employee exclusively in relation to work of the client, and later on company gets reimbursement from the client, whether such "out of pocket expenses" are liable to FBT under the head " Conveyance"?

Thanks & regards
SRAVANI P

We are manufacrurer cum trader in hydraulic equipments and also provide some technical, repairs, training services etc. taxable service.

As a company assessee, we have to pay service tax on outward freight.

We are taking service tax credit on all the invoices whether it is for production or sales.

Can we utilise such credit against the payment of service tax on GTA for outward freight?

Hi,

In case of Investment in a PPF account, I wanted to know if the amount deposited after the intial investment can be less then the intial investment. Also wanted to know wether if the deopsit can be one time or what is the minimun years of investment required. (For ex: 1st year if 60000 is invested is it possible to invest 50000 in the second year and can the inevstment be only for 5 intial years)