I think Fringe Benefit Tax remove on the next budget. can you know about this.
pls discuss with me.
Piyush Jain
(CA)
(283 Points)
Replied 28 May 2009
Murlidharan, any amount that was utilised for the project will be capitalised. now when the machine that were purchased for project is either sold off or brought to business and this case the amount of project will be reduced by sale amount or book value, respectively.
Practically, I have seen this case where my client was building a mall and afterwards used the machinery for his other business.
Just a suggestion, what organisation do is provide depreciation on this machinery which is utilised for project, which is wrong.
Regards
Piyush
PiyushAgrawal
(Chartered acooutant in practice)
(575 Points)
Replied 28 May 2009
| Originally posted by :SHANKAR | ||
| " | I think Fringe Benefit Tax remove on the next budget. can you know about this. pls discuss with me. |
" |
No.i m not.If any know plz discuss with us..
Priyanka
(Article Assistant)
(31 Points)
Replied 29 May 2009
can ne1 plss tell me if client has included local conveyance in foreign tour & travel a/c....do v need 2 bifurcate d same....as rates r diff???
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