S R RESORTS LTD. IS A COMPANY RUNNING HOTEL, BANQUET HALL AS WELL AS RESTAURANT BUSINESS.
IN RESTAURANT DIVISION IT USES VARIOUS KINNDS OF KITCHEN INSTRUMENTS (MIXER GRINDER, MICROWAVE OVEN, DEEP FRIDGER, COKE REFRIDGERATOR ETC.) TO PREPARE AND PRESERVE DISHES.

NOW MY QUERY IS;
WHETHER SUCH KITCHEN INSTRUMENTS WILL FALL IN THE CATEGORY OF "PLANT & MACHINERY" FOR THE RESTAURANT BUSINESS ?

IF YES THEN WHETHER COMPANY CAN CLAIM ADDITIONAL DEPRECIATION OF 20% U/S 32 ON ADDITIONS UNDER KITCHEN INSTRUMENTS.

Can Assessing officer impose penalty u/s 271(1)(c), as assessee in reply to show cause informed that assessee preffered an applel against the assessment order. Later CIT (A) appeal decided appeal in favour of assessee and meanwhile Assessing Officer has passed order u/s 271 (1) (C) .

Is order u/s 271(1)(c) of the assessing officer valid ? What are remedies for assessee against the said order accept an appeal against the penalty oder ?

Dear Sir,

I would like to know wheteher Interest provided by Income tax Dept. u/s 244A is taxable or not?

regards,

Ritesh

could u tell me plz that what is the maximum amount as a transport allowance, which i can give to the employees in a private company?

(4000*25/100= 1000 or 800 whichever is lower)
what will be the payment in the above case,if the employee salary does not comes under tax liability.

Can a private unlisted company have an ESOP?

Mr. G of Gujarat selling goods to Mr. M of Mumbai. However, goods is transported directly to Mr. D of Delhi on instruction of Mr.M.

What are the document Mr. G has to send to Mr. D of Delhi along with goods and also what are document should be given to transporter as Mr. G raises the bill in the name of Mr. M of Mumbai

Hello,
I am Neetu, My Salary is Rs. 18000pm (Gross), for the A.Y-2009-10, My SAlary break up is:
BASIC 7,500.00
HRA 4,500.00
Conveyance 2,100.00
EDU. Allow 2,100.00
Dress Allo 1,800.00

Is TDS is applicable on me.
Please reply.
Thanx in Advance.

Neetu

Hello,
I am Neetu, My Salary is Rs. 18000pm (Gross), for the A.Y-2009-10, My SAlary break up is:
BASIC 7,500.00
HRA 4,500.00
Conveyance 2,100.00
EDU. Allow 2,100.00
Dress Allo 1,800.00

Is TDS is applicable on me.
Please reply.
Thanx in Advance.

Neetu

An educational school registered as society received fees Of Rs 15 Lacs during the FY 2008-09.
It has surplus of Rs 1.20 lacs after accounting of expenses(i.e Fees-Expenses)

Above mentioned society wants to take tax benefit u/s 10(23C)(iiiab) .
1.As its income is less than Rs 1.50(below Exemption Limit) even then it requires to get its accounts audited and file IT Return ?

2.Whether audit depends upon the receipts of fees ?
Please give views.

A Director of XYZ Ltd. went on Foreign Tour for business Purpose and following expenses were incurred on that tour.

Hotel Stay Charges (on 21.05.08) USD 2000
Telephone Exp. (on 22.05.08) USD 50
Taxi Hire Charges (---D0---) USD 150
Shopping Bill (---DO---) USD 750
Amusement Park Bill(on 23.05.08) USD 250

Total USD 3200

a) What Accounting entry will be passed for the above expenses?

b) What exchange rate will be used for translation of USD 3200 into INR?

c) Whether Shopping Bill and Amusement Park Bill will be allowed as expenses to XYZ Ltd. or not?

d) Whether expenses mentioned in (c) above are Director's personal expenses?
If yes then which expense head will be debited for those expenses.