Outstanding salary is also taxable 2007-10-04 04:01:00 By Kamal RathiI was working for a midsize IT company till early this year. Since the company was in trouble for some time, they were not paying salaries to the staff on time, and towards the later part of my tenure skipped it altogether. A large part of my salary for the financial year 2006-07 is still outstanding. I had also incurred some expenses on behalf of the company which are still outstanding. Are these amounts deductible from my income?V.S. Sulesh, Via e-mailWith respect to the query for the salary due but not paid to you by your employer, your attention is drawn to the provision of sub-clause (a) of Section 15 of the IT Act which provides that any salary due from an employer or a former employer to an assessee in the previous year, whether paid or not, shall be chargeable to income tax under the head "Salaries". Hence, you are liable to pay tax on the salary due to you for the financial year 2006-07, though you have not received the same. Further, you cannot claim any deducti
Keonjhar economic blockade costs IR Rs 10cr 2007-10-04 04:00:00 Bhubaneswar, Oct. 3: Transport of ore from the mineral-rich Keonjhar district came to a grinding halt for the fourth day on Wednesday with scores of BJP activists performing, what they called, UPA government’s last rites. According to Chakdradharpur railway divisional manager B.P. Gupta, the railways have lost at least Rs 10 crores in revenue in the last four days due to the economic blockade. As many as 19 iron ore-laden trains have been stranded at Joda, Barbil and Bansapani loading sides, he said."Among others, the local people are demanding introduction of a passenger train between Jamshedpur and Bhubaneswar. The Union railway ministry is the appropriate authority to take a decision in this regard," Mr Gupta said. He appealed to the agitating people to allow the iron ore loaded trains to leave Keonjhar assuring that he would convey their concern to the higher authorities. BJP has been demanding introduction of a local train and repair of the national highway 215 to make it con
GSM, CDMA clash over spectrum 2007-10-04 03:56:00 COAI argument faulty, misleading, says औस्पीNew Delhi, Oct. 3: The GSM operators body cellular operators association of India (COAI) and CDMA body association of unified telecom service providers of India (AUSPI) clashed over the issue of allocation of spectrum at a meeting called by telecom minister A. Raja on Wednesday to discuss the telecom scenario. In his presentation COAI director-general T.V Ramachandran favoured the continuation of the current subscriber-linked criterion for the allocation of spectrum."Subscriber-linked criteria ensures optimal use of spectrum and facilitates improved competition which is ideal solution for India in view of limited availability of spectrum," Mr Ramachandran said. However, he said that the Trai recommendation, in which it has hiked the subscriber-linked criteria many times is incorrect and flawed. AUSPI secretary-general S.C. Khanna said that the COAI argument was faulty and misleading.Mr Ramachandran said that GSM operators have depl
Pakistan says it will hold elections by mid-January 2008 2007-11-06 02:48:00 Islamabad, November 6: Pakistan
said it would hold a national election by mid-January
and President Pervez Musharraf pledged to quit the military after criticism from the United States for imposing emergency rule.Musharraf has detained hundreds of lawyers and opposition politicians since taking emergency powers on Saturday, a move seen as designed to pre-empt a Supreme Court ruling on his re-election as president last month.US President George W. Bush, who values Musharraf as an ally in his battle against al-Qaeda and the Taliban, urged Pakistan's president to lift the state of emergency, hold elections and quit his military post.Police used teargas against stone-throwing lawyers in the eastern city of Lahore, and wielded batons to break up another protest by dozens outside the High Court in Karachi.It had been unclear whether parliamentary elections would go ahead in January as scheduled.But Attorney General Malik Abdul Qayyum told Reuters there would be no delay and national and pro
होम loans 2007-11-14 01:11:00 With an HDFC Home Loan, you can bring to life the house of your dreams. You could buy a self-contained flat in an existing or proposed co-operative society, in an apartment owner's association or even an independent single-family or multi-family bungalow or row house as well as a house that you like anywhere in India….HDFC Home Loans are easy to arrange and can be customised according to your needs and repayment capability. Moreover, in Delhi you can get finance for first power of attorney purchases of DDA flats allotted before 1992.
Recommend Site To A Friend
