Dear All,

Please let me know whether Dumper , Tractor are considered as Machinery or vehicle as far as TDS u/s 194-I is concerned.

Thanks in advance

Anand

Dear Friends, I have a practical issue. If I paid interest on Partners capital in FY 2005-2006, then is it necessary to pay it in 2006-07 also. Case is wrt exempted areas, and hence the AO objecting is that we are inflating profits and hence disallowing that much amount. I want to know the legal points involved in this matter.

Whether an educational institution(MBA)like IIPM, IFCI or any other such institutions providing laptops to students are liable to under FBT provisions?

I HAVE DEPOSITED RS. 120000.00 TWICE AS TDS ONE IN 07-08 AND OTHER IN 08-09

HOW CAN THIS BE ADJUSTED

Our company reimburses to employees for fuel, telephon, vehicle running & maint.(including drivers salary) on the basis of supportings vouchers, which is actually a part of salary.

My different questions are :
1. Can we book the amounts as "Fuel Reimbursement", "Telephone Reimb", "Veh. R/M Reimb" or we should book directly under "Fuel expenses, Telephone Expenses, Vehicle R/M expenses".
2. Since all these reimbursements are paid to individual employees as per grade entitlements fixed, if we opt for paying FBT on these, will there be any problem in justifying that why we are not taxing it to individual employees and paying fbt on that.

3. In case of vehicle, our company also incurrs expenditure on pick/drop of employees by hiring out cabs/buses. Company also incurrs expenditure for other offical travelling (hiring of cars and expenses on owned cars) expenses done for employees, customers, etc.

Whether these expenses will also be covered under FBT along with depreciation on owned cars + expenses in point no. 1.

There is a pre-termination agreement between two companies, and one compnay is getting compensation in 45 nstallments... balance peried of agreemnet 36 months. whether we need to account it on accrual basis or receipt basis?.. Tax is applicable on accrual or receipt? pls advice

Whether TDS is applicable on payment of freight to truck owners in cash. Individual track of truck owners is not possible. So how can we check the limit. Truck owners submit GRN in the name of some transporters. Should we check the limit of Rs. 50000 transporter wise whose GRNs are we have received.

Sir,
One of my Clients who is a non resident in UAE has sold goods to Indian Company for 15 million dollors.and now the company wants to make payment for the same.
My Question is that will tax be deducted for the payment of goods and if so which section is attracted.. Also if there are any RBI Regulations of the same.

Thank you.

FOR THE PURPOSE OF CHARGING DEPRICATION UNDER THE COMPANIES ACT WHAT RATE OF DEP. SHOULD APPLY ON LAND & BULDING.OR IT IS POSSIBLE TO NOT DEPRICIATE THE ITEM BECAUSE IT ACCOMPAINED WITH THE NON DEPRICAITE ITEM. PLS TELL ME THE PROCEDURE OF CHARGING THE DEP. ON LAND & BULDING.

Is there any Circular or case law relating to rent paid to father or spouse and claiming exemption thereon on such amount. however i could not find any provision in the act for such.

Well however sec. 80GG limits assessee or hisspouse or child to own any residential accomodation. Does this impede any implication on the above matter.