if a company making payment of advance FBT on the presumption of 130% of total budgeted expenditure and at the time of payment at 15-3-09 whether it is right to consider actual expenditure or tax calculated on presumption basis.

if tax calculated on presumption is above the actual and it short fall for installment purpose can we change our presumption 120% instead of 130%

pls reply the treatment

Please advise. Incentives payable for year 2008-09 but paid in July 09 will be taxable in the year 2008-09 or 2009-10.

Thanks for your reply.

Dear All

Please let me Know

1. if it is First year of the Proprietor ship firm i.e F.Y 2008-09 and Sales Exceed Rs 40,00,000/-whether TDS is requried to be deducted on Freight u/s 194C assume that it exceed exempted limit.Last year there were no Sale.

acully one pvt.ltd.co(cons.work)have taken a piller(equipement) on hiring basis from a p.firm, its billing is 20000
so my query is is this attract TDS & yes then at what rate..

pls clarify the following

1 whether fuel,maintanance of vehicle allowance paid to employee is exempt?
2 travelling allowance and the above both are exempted

Dear All I am Going for CPT June attempt But my Math Backgroud is Not Strong so Can Any one Suggest me the Book for Maths Section in CPT and any Classes for Saturday Sunday as I am Working with a company.
pls Reply or Mail me on rakeshu1986@gmail.com
Thanks In Advance
Regards
Rakesh Pandya

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?

Dear Sir,

It is a known fact that in case there is no employee in Company FBT cannot be levied however I have following two queries and sought expert views on the same :

1. Will a Company be held liable for FBT on expenses {of the type covered by Sec. 115WB (2)} in case it has just one employee on the rolls of the Company?(as the definition used says "Company should have employees in India"

2. The Company has incurred some expenses which are liable for FBT but didn’t had any employee. Subsequently it appoints one/two employee in the Company. Whether FBT will be levied on the expenses {of the type covered by Sec. 115WB (2)} incurred from the date the employee joins the organisation or from the first date of the financial year?

If a Builder constructs the Commercial complex after getting the agreed money from the Party (Buyer) in various installments and deliver the premises to the buyer after completion the whole project.

Please guide me what would be the status of Service Tax liability on Builder ?

One of my client having a partnership firm, taken the land on lease and constructed a warehouses on leaseed land and thus generating the income. My client is also paying rent to the Land owners and deducting the tax. Please help me out under which head of income he is liable?