Is Expense on Guest House Subject To FBT?

When a company is providing the Guest House Facility to its employees, rent of which is paid by the company. In this case do the company needs to pay FBT on Guest House Rent OR it will be taxable as Rent Free Accommodation in the hands of the Employee ? baljeet_kv@rediffmail.com
As per section 115WB(2)(k) [...]

Does Payment To Travel Agent For Airlines Tickets Require TDS?

One of our Company;s higher quthorities frequently visiting to US and other countries, all the the tickets are donw throught one ageny. my question is, whther we have to deduct TDS from payment to travel agency: rajchinnan1984@gmail.com
Merely ticketing does not require any liability of TDS. CBDT in its circular dated 8/8/1995 clarified on the [...]

When Is Salary of Non Resident Based in USA Not Taxable In India?

I’m Indian Citizen, & US Green Card holder. Working in USA from Nov 1999 till now. Working for bigger telecommunication company and they have office in India & USA. I took a project in 2005 and required frequent business travel to India. I was travelling during 2005 & 2006 5 to 7 times and have [...]

One Property & Two Different Rates Of TDS !

I am a NRI, co-owning an apt with my mother who is a resident Indian. The apt is let to an MNC which plans to pay the rent by 2 cheques of equal amount in my mothers and my name. In this regards1) Does the MNC have to pay TDS and give us cheques of [...]

Is One Male Member Enough For HUF?

Whether a person with wife and two daughters only can have HUF?njakhotia@……com

Whether only one male member is suffice to form an HUF is now legally well settled as per decision of Supreme Court in case of Gowli Buddana vs CIT (1966) 60 ITR 293 . An HUF is no different than a joint property. The [...]

Is Payment of Admission Fee to ICAI Allowed Dedcution u/s 80C?

Pl advice on the allowability of Deduction u/s 80C i.r.o fees paid to Institute of Chartered Accountants of India for admission / registration to study CA : svcsindia@gmail.com
Good question!
Section 80C(xvii) of the I T Act allows deduction for payment of Tuition Fee .The provision is as follows

(xvii) as tuition fees (excluding any payment towards any [...]

When Is Global Income of Employee Taxable?

For the financial year 06-07, I worked for Indian company in India till 15th September 07 and came to USA on 23rd September 06 (i.e. less than 181 days in India).During my Indian employment, my tax was deducted at source. Am I eligible to claim the income tax refund in India for financial year 06-07?Is [...]

Can A Person Get Exemption u/s 54F If He Purchases More Than One House?

Is there a limit to the number of residential properties that a person can invest in for claiming exemption u/s 54F?For eg: If a person is selling jewellery (long term), and buying two residential houses. At the time of transfer, the person already owned one residential house. Can he claim exemption u/s 54F for both [...]

When Is Indvidual Liable to Dedcut Tax At Source?

I am an individual assessee paying rental on residential accommodation to an individual assessee. Do I also have to do TDS on the rent paid? If yes, what are the rates thereof? What is the procedure to pay TDS by an individual?gapblore@….co.in
I would actually take this opportunity to tell you all the circumstances when an [...]

What Can Be Done to Reduce TDS on NRI’s Property Sale?

I am a NRI and I bought a apartment in Bangalore in Feb 2006 for Rs27 lakhs. I spent another 11lakhs for interiors/registration,service tax etc. So I spent a total of about 38lakhs for the apartment.Now I am planning to sell it for 49.25lakhs. What will be my capital gains tax be? The buyer told [...]

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