Hi friends,

Please clarify whether FBT is applicable in the following case:

If a company reimburses conveyance expenses incurred by the employee exclusively in relation to work of the client, and later on company gets reimbursement from the client, whether such "out of pocket expenses" are liable to FBT under the head " Conveyance"?

Thanks & regards
SRAVANI P

We are manufacrurer cum trader in hydraulic equipments and also provide some technical, repairs, training services etc. taxable service.

As a company assessee, we have to pay service tax on outward freight.

We are taking service tax credit on all the invoices whether it is for production or sales.

Can we utilise such credit against the payment of service tax on GTA for outward freight?

Hi,

In case of Investment in a PPF account, I wanted to know if the amount deposited after the intial investment can be less then the intial investment. Also wanted to know wether if the deopsit can be one time or what is the minimun years of investment required. (For ex: 1st year if 60000 is invested is it possible to invest 50000 in the second year and can the inevstment be only for 5 intial years)

My father wants to give me a housing loan by cheque with a interest @ 10 % P.A.

Can I get the deuction under salary head by section 80 C and section 24 of IT act.

I just complete my 15 month of articalship without any leave.At the period of articalship I only doing filedman work 'Like a Pagal'. My CA never given any type of work which related my trainig. Iwas there only one Artical.About all this Icould not lost my temple but at the time completing 15 month I gave him an application for taking leave for of PCC. He never give ne any leave for my preparation of PCC.

What can I do?

I had applied for TAN through internet and filled the form 49B and also made the payment through credit card.

But could not get the copy of acknowledgment with which other documents to be submitted manually because of internet disconnection in between.

My query is will I have to pay again or I can get the same filled form from any sources.

Please tell me its urgent.

Say I receive HRA amount of Rs. 1,50,000/- p.m.and with basic of Rs.300,000/-p.m. The rent paid is Rs. 1,25,000/- p.m.

Do maintain a Guest-cum-office room at the residence in Metro. Do I get some admissibility for furnishing this room or maintaining it, from the point of view deductions under the relevant setin applicable for Income Tax payment

I have taken a personal loan through a private bank during this year and i have invested in the shares & securities through a regular franchise and i have winded up with a loss on it. So could i show the respective loss and i want to claim the occurred loss in this year.
So i want to know the details required for the submission of my tax return
(A.Y.2008 - 09)

In one case the aso refered to vo for valuation of land as on 1981 under sec 50c. actually the property is inherited and pruchased by the ass father in 1968 .
Can the aso send the same to vo for purchase price of the property under this sec50c? the vo has taken comparative sale instances of 1981 but the ass had gone by the basis of municipal jantri as in 1981 which is much higher then tehe comperative sales instances. THIS HAS BROUGHT THE LTC FROM LOSS TO PROFIT AND HUGE DEMAND.

one of our client his company incorporated on 9th jan 2008 than how much Profession tax he wants to pay for the F.Y. 2007-08 & F.Y. 2008-09.
as per my knowledge for F.Y. 2008-09 his profession tax liability is Rs. 2500/-
but for F.Y. 2007-08 how to calculate the profession tax liablity? it should be by monthwise break up of Rs. 2500/- because there is only 3 months in F.Y.2007-08 or i want to pay full Rs.2500/-
please understand my querry & reply as early as possible