regarding income tax

This query is : Resolved

amitsingh (Querist)
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25 August 2009 whether leave travel concession is taxable under F.B.T ? IF YES PLEASE GIVW ME EXPLANATION . I ALSO WANT T OASK THE QUESTION THAT - CABLE WIRE OF RS -57698 PURCHASE , IF IT IS CAPITALISED WHETHER TDS SHOULD BE DEDUCTED OR NOT

Jitender

Jitender (Expert)
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26 August 2009 1. LTC is not liable to FBT as it is exempt u/s 10.

2 .it will be capitalized & no tds as deductible as sale of goods does not liable for tds.

MANAS ROUT

MANAS ROUT (Expert)
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26 August 2009 LTC is not liable to FBT .
cable wire purchased should be capitalized which depend upon the fact and situation & no tds as deductible as sale of goods are not liable for tds.