09-10-2010, 03:28 AM
bas jee kia karain jee p
09-10-2010, 03:28 AM
bas jee kia karain jee p
09-14-2010, 09:23 PM
may bhi soch raha hon ji k BA k bad CA bhi kar hi lon,,, hahahahah
09-16-2010, 04:30 PM
idea bura nai hay.. me sooch ri hun B.com k baad LLB kerlun P
09-16-2010, 07:09 PM
Apart from the above discussion, if primary queries are yet to be absolved, kindly let me know. I considered it feasible to ask before reply, since there is a long lag of your query with that of current date. Best Regards,
09-18-2010, 03:32 PM
yes please answer to the queries..thank u
09-18-2010, 06:21 PM
Han han kyon nahi zaror karo ji LLB,,,,
Par karna S.M. Law College say.
09-18-2010, 11:01 PM
Bachelors hujaye bas zara den INSHALLAH!! S.M law college me evenin classes huti hay?
09-18-2010, 11:39 PM
ji wahan evening classes hoti han,
09-20-2010, 07:16 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Safoora</i>
<br />tax ka paper honay wala hay.. and i hav the following queries!! plzz koi me ki help ker de!! 1. Mr.X is a salaried Person and he is provided with a medical allowance of Rs. 10000/month besides this he is also entitled to free medical treatment approved hospitals.. Mr. X ko 10% of basic salary ki exemption milegi for the medical allowance? 2. Mr Z has suffered a loss in business.. is liye in pe minimum taxation apply kerengay.. so if Mr Z ne koi advacne tax pay kia hua hay ya tax deduction at source hui hay usko adjust kersaktay hain kia with tax amount payable under minimum taxation? 3.agar recognized provident fund pe interest is exempt higher of 1/3 of the salary or 16 % of what? 4. MR A is constructing his house and for that purpose he intends to take a personal loan.. can this loan be included in his taxable income? under wat circumstances? <hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote"> Dear Safoora, Please note the following, respective to your queries. 1- Mr. X will be provided maximum exemption of 10% of his basic salary, be it in the form of reimbursement or through medical allowance. If he has taken his medical allowance as exempted upto 10% of his basic salary then he will have to clubbed medical reimbursement in his total income to arrive at the taxable income. 2- Mr. Z will be allowed a tax credit in respect of those taxes which have been deducted at source, provided that his annual turnover exceeds Fifty Million in the tax year 2009 or in any subsequent tax year. 3- 16% of interest calculated. Lets assume that interest has been calculated and credited at 20% then we will be required to ascertain whether 16% interest is higher or 1/3 of annual basic salary( higher of the two will be exempted). 4- Loan will not, in any case, be included in his taxable income, however, remember the following two important abstracts of the ITO 2001; ------------Interest calculated at the Benchmark rate (If the loan is tax free or at the rate lower than benchmark rate) will be included in the taxable income of the employee. ------------Tax credit will be given if the loan has been sanctioned by approved institutions for the purpose of construction of House. If you need any section reference or detail, then let me know! Best Regards, Faisal.
09-20-2010, 07:18 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Safoora</i>
<br />Mr. R is a salaried individual whose taxable income for previous year was more than Rs. 50000 and he has not filed the Wealth statement.. he is of the view that since he has no other source of income besides salary and his employer has already filed the annual statement he is not required to file a wealth statement.. sai ke rray hain mr. R? <hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote"> Laptop replied correctly! Regards,
09-20-2010, 07:20 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Safoora</i>
<br />Mr A and B signed a contract on 20th may 2010 under which mr. A will supply good x to mr. B within two months.. at the time of entring the contract the goods were exempt from sales tax.. later on the govt withdrew the exemption... 25% advance was paid paid on the signing of contract and balance on delivery of goods on 15th july 2010.. Advise mr. A on charge-ability of tax.. <hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote"> Dear, Mere entering into the contract will not extinguish the sales tax bar and Tax will be applicable. However, if the invoice was issued at the date of contract (irrespective of whether payment will be made in future date) then no tax would have been applicable regardless of the fact that exemption has been withdrawn, since date of invoice is important in this case. Best Regards,
09-20-2010, 07:24 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Safoora</i>
<br />in the financial statement of an AOP the following appear under the head other incomes.. 1) accounting profit on disposal of fixed assets 2) reversal of provisions of doubtful debt pertaining to the previous year 3) dividend recvd from a listed company 4) profit on debt now i m required to explain with the reason as to how the above items will be treated in the computation of taxable income S <hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote"> Dear, The following are the respective replies, keeping in view the case of an AOP. 1. Accounting profit on disposal will be discarded from the net profit and taxable profit on disposal will be added to arrive at the taxable income. 2. Deduction on account of doubtful debt is not admissible expense, however, actual bad debts will be deductible or provision of bad debts will be admissible only if there is a reasonable certainty of that provision to be proved bad in future. Doubtful debt will surely be reversed (in the case referred by you) but it will be shown in âincome from businessâ and not in âincome from other heads. 3. Dividend should be shown as separate block of income and not to be shown in other incomes. 4. Since your case is with regard to an AOP; If profit on debts has been received from the specified institution, then tax deduction will be treated as final tax. Let me know if confusion still exists. Best Regards, Faisal.
09-23-2010, 03:09 PM
Faisal bhai thank u sooo much.. everything is clear now )
07-01-2011, 09:29 PM
Mr X can maximum avail 10% exemption on his basic salary so any amount above the 10% is taxable. 10% exemption is not valid in case of free medical treatment.
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by Safoora</i> <br />tax ka paper honay wala hay.. and i hav the following queries!! plzz koi me ki help ker de!! 1. Mr.X is a salaried Person and he is provided with a medical allowance of Rs. 10000/month besides this he is also entitled to free medical treatment approved hospitals.. Mr. X ko 10% of basic salary ki exemption milegi for the medical allowance? Yes Mr Z can adjust the advance tax payments against minimum tax liability 2. Mr Z has suffered a loss in business.. is liye in pe minimum taxation apply kerengay.. so if Mr Z ne koi advacne tax pay kia hua hay ya tax deduction at source hui hay usko adjust kersaktay hain kia with tax amount payable under minimum taxation? 16 % of the total amont of fund. 3.agar recognized provident fund pe interest is exempt higher of 1/3 of the salary or 16 % of what? Loan is not taxable income it is liability. 4. MR A is constructing his house and for that purpose he intends to take a personal loan.. can this loan be included in his taxable income? under wat circumstances? <hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
11-09-2011, 10:23 PM
Thanks for all of your queries and answers. I got many new things here.
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