Dear Experts,

We are in receipt of excisable material, which address & ECC number mentioned on duplicate for transporter copy is of our another unit, however address on Lorry Receipt is correct, In that case can we eligible to avail cenvat credit ?

Thanks !

Guyyss having ca final attempt in Nov'15...really confused for final classes..need to take admission at d earliest as they hv alrdy strtd with sum of thr batches...Jks r professionals...???????????

when i get accrud interest form bank on FD but bank not deduct tds on accrued intrest so what i do accrud income showing in F.Y or not
example of my problem
i get accrud intt 600000 and that only my income as per rule tds will be deduct on 10% 60000 and when i file return so i calculate 2 lac exem 3 lac @10 % 30000, 100000 @20% 20000 total tax 50000 tds will be dudect 60000 but bank whwn pay me intt. then deduct tds so without dudect tds i caimed or i m showing my accrud income

Respected Experts

Please educate me regarding the various limits available for tax relief for the following items for a salaried employee of an organisation

Also how can an employee avail these deductions while calculating his income tax amount to be filed.(Documents that need to be submitted)


Child Education Allowance

Medical Reimbursement receipts submitted

Transport/Conv. Allowance

LTA receipt submitted

Food Coupons

Periodical Journals

Uniform/Dress Allowance

Telephone Reimbursement receipts submitted

Prof. Development receipts submitted

Car Expenses Reimbursement receipts submitted

Driver Salary receipts submitted

Internet expense receipts submitted

Is Performance Incentive/Bonus taxed with Gross salary(clubbed) or separately.

Much obliged as always & awaiting your valuable responses.

Regards

Roshini Arya

Respected Experts
I have a query regarding HUF.
If an employee working for a company wants a part of his gross salary be paid as a gift to HUF for an amount of not more than Rs 50000 can the organisation do so and if yes under what header will such a transaction be recorded as.
Also how can an individual having a HUF account save tax from the salary he draws from an organisation as an individual.
Please clarify.
Much Obliged
Roshini Arya

Respected Experts


I have a query regarding Tax deduction from salary Is it possible that gratuity being tax exempt be deducted from the very first month of joining a company

For eg Mr A joins a company XYZ ltd with a gross salary of Rs 12 lacs PA.His basic gross salary is 40% of his gross salary which is Rs 480000 pe and gratuity is given to him at the rate of Rs 276923.08 PA. This amount of gratuity is part of his CTC of Rs 12 lacs but is exempt from IT as the limit is Rs 10L.

If it is OK to pay then should it be paid as a lump sum amount or every month as a head in the salary.

Can the organisation do this for a given employee to reduce his tax burden.


Please clarify my query. I would be much obliged


ROSHINI ARYA

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