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Urgent queries

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Rushabh Shah

Business

373 Points Posted on 23 August 2013

Hey Friends,

I had the following tax queries. Will be grateful if could get some help here.

1. When is STCG taxed at 30% - Examples ?

2. What are the tax implications of Sec. 192 (1A) - (Payment on Non monetary perks to employees) ?

3. How is PF taxed - in hands of Employer and Employee ?

4. What is the implication of Rule 37BA ?

5. When can payment to a Non resident made without TDS ?

6. Difference between section 43 (1) and 43 (6) ?

Thanks in Advance :)

Replies (4)

NAGASAI.K

Article Assistant

152 Points Posted on 23 August 2013

1.STCG u/s111A - taxed @ 15%

STCG not covered u/s 111A - taxed at normal rates

Meaning of STCG u/s 111A - STCG arises on transfer of equity shares or units of equity oriented fund which is chargeable to securities transaction tax

NAGASAI.K

Article Assistant

152 Points Posted on 23 August 2013

Tax treatment in the hands of employee:Tax paid by the employer on non monetary perquisites given to employee is not taxable in the hands of employee (sec.10(10cc)) Tax treatment in the hands of employer:Tax paid by the employer on perquisites is not allowed as business expenses (sec.40a(v))