ACCOUNTING
This query is : Resolved
yvk prasad
(Querist)
11 August 2008
WE HAVE TAKEN MACHINERY HIRED BASIS FOR THAT MACHINERY MAINTENACE(for example D.G Set) i.e RUNNING EXP.ETC., WHERE WE HAVE TO BOOK either Plant & Machinery Maintenance or Machinery hire charges
if we have accounted under the Plant and Machinery Maintenance we have to pay fringe binfit tax.
if we have accounted under the Plant and Machinery Maintenance we have to pay fringe binfit tax.
CA Hemant T Dewani
(Expert)
12 August 2008
you will follow rapairs & maintanance in the books
fbt is payable only on motorcar not on machinery owned or hired
fbt is payable only on motorcar not on machinery owned or hired
CA Abhishek Tyagi
(Expert)
12 August 2008
You should book it under the head Machinary Hire Charges.
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