Is company liable to pay FBT on free transportation facility provided to employee which is not in lieu of conveyance allowance

(i.e, conveyance allowance is also being given to employess and buses have also hired for commuting from residence to office and office to residence.)

AS per Circular No. 8/2005 dt 29/08/2005
FAQ NO. 104, facility provided in lieu of conveyance allowance is not liable to FBT.

we are having Partnership Firms our partner was done interior work for their own house but the payment made to Contractor from Firms which is wrong also we deduct TDS on that bill amount now what we can do.......???????????

give me a brief idea about calculation of deffered tax. wchich area has to be taken care of.which incometax section covered for deffered tax.

Dear Sir,

CAn a unlisted public company & deemed public company accept loan from its directors, shareholders & outsiders.

Please reply ASAP.
Thanks

If a service provider has provided services worth Rs 1 crore(hypothetically) and availed services worth Rs 50 Lakh (again hypothetically), on what amount would be Service Tax Levied.

I would really appreciate an answer .

IS amendments in AS-11 is applicable for june 2009 exam(pcc)? If yes, plz provide me AS-11 with amendments.

Ours is manufacturing company. A project is going on for developing the company's new building.

Now i wanted to confrim whether We can capitalise the salary of the person (Includes directors and other managemnt staff) visiting the above project.

If yes Whether it would be correct doing that?

Is their any accounting standard related to this issue?

what is the provision for deposite of FBT - monthly basic or quarterly??????

if monthly what is the penality for late deposite if i am deposting quartely

We have been facing a peculiar problem. We a 100% EOU undertaking job work for SEZ as per Rule 41 & 42 of SEZ Rules 2006. The SEZ is sending entire raw material, consumbales & packing material to us for job work in original packing.

We after processing the material repacking the finished goods in seperate packing boxes which are sent by SEZ and then processed goods sent back to SEZ.

We want to sale the unused (un recyclable) packing material directly from EOU unit into DTA without payment of duty. But the Specified Officer of SEZ not allowing with the ground that there is no such provision. We have no other option except to send back entire un used packing material back to SEZ. which will finally be sold duty free from there.

We are unncessary bearing the extra cost of freight merely on the ground that there is no provision in SEZ Rule. Please let us have your view point and suggestion to come out from this problem.

I have my june attempt and am almost done with my Accounts course ,, But am left with Balance Sheet of Electricity / Insurance , Issue of shares , Fial Accounts . How should I go over them according to the level of importance .

I would really appreciate an answer .