As we are passing on the fringe benefit to the employees like Telephone Reimbursement and reimbursement components like entertainment, vehicle running expenses for manager. Is there any way that we can recover some FBT from the employee. For example 20% FBT on vehicle running expenses can we recover 6 or 8 % from employees pls let me know

Is there FBT on the medical reimbursement given to the employee which is considered as taxable benefit to the employee for his income tax.

For Investment company, shares and securities lying in stock, what will be valuation norms as on balance sheet date ?

Suppose we had buildings built in 1970 at Rs. 1 lac.
The said building was revalued in 1990 to Rs. 20 lac.
The said building was again revalued in 2005 to Rs. 35 lac.

The WDV Method of Depreciation is followed @ the Companies Act rate of factory building.

Now to realign all the assets with the same method , the management is planning to bring it to SLM basis.

What will the method of computing depreciation on the building , and what kind of assumptions as to the useful ife and rate of dep. has to be taken.

If a company purchased a constructed house whether cost of land and building are required to be separately capitalise. How these are separately assessed that what is cost of land and building

what are procesures for provison of gratuity whether is it allowable or not

Dear Member,

I am working with Service Indusrty.
We are having 20 branches in Mumbai Region.
In case if we closed one branch & fixed assets pertaining to that branch transfer to another existing/new branch.
What entry in Tally & What correction in Fixed Asset Register, i am supoose to do?

Please reply urgent.

hi,

Professional Tax has been deducted from the employees and paid to the Dept. But the cheque paid has not been presented by the Dept n it has become stale. Now what can be done? If we reverse the payment Professional Tax will show Cr. Balance.

Hi!

plz explain by example to deferred tax liability or assets.

thanks
Mohit

Please explain that What does the meaning of FOB Price / CIF Price etc?