Hi All,

URGENT!!!

When we pay Per-diem allowance to Employees who go onsite for specific projects, is it mandatory to pay FBT on this?

Secondly, is Service tax on rent of commercial property applicable as 0% and from which date?

Hope to get immediate response.

Regards,

Amit Deokule

We have undertake modifiation activity in which we are using material while doing modification. Pl inform whether excise duty is applicable or not.

If you any rule and act no in this connection pl inform the same.

I want to know about exemptioin for eg you will score income tax 60marks
but other subject cost and fm and it and sm you must score 30marks I want to cerify that exemption get income tax by 60marks how much marks would you score in other subject in a group

A company has taken on lease an office space in a residential block. Should the lessor charge service tax on the rental

A company got a CC limit with bank and purchases a car of that money and now pays interest on total withdrawn amount. No seperat intt is charged on amt used for car. Will this interest amt attract FBT or not?

IF a manufacturing organization purchases a Weighing machine to be used to weigh its final products, this machine should be taken under Plant & Machinery or under Office Equipments so as for the purpose of calculating Depriciation? If it is to be taken under P & M, will the condition of Double shift also apply in case machine is used in double shift to weigh goods?

A company lays off its employee in Mid-marcha in a way that his last working day is 15th Mar and pays his full & final settlement amt for salary and other encashments in Apr end. Now, should the company make provision for such expense at Mar end itself as liability is confirmed and also the amt. If yes, when shd company deduct TDS from the amt payable to employee? For employee, this final settlement amt will be taxable in which year?(in yr when he served or when he actually receives the amt)

In case of purchase of an asset, the amt of VAT paid can be used as Input Credit. For this, should this purchase necessasrly be locally made or it can be from any state in the country?

Hello Sir,

If the Company is having a contract with a Client to provide some IT services and is known at the inception of the Contract itself that the Contarct is going to incurr a loss. e.g Expample in a contract of 3 years- Contracted Revenue of 100Mn with Contracted Cost of say 150Mn i.e anticipated loss of 50 Mn for the 3 years.

1. Do we need to provide for this loss in the books to make the net margin Zero?

2. If yes than should that entirely (i.e 50Mn) be provided at the inception or over the contract life?

Regards
Arvind

I have to pay an office rent of Rs.60000/- (excluding service tax) from april 2009 onwards. How much is the TDS that I have to deduct from the Rent? What is the due date of tds on rent?