Dear Experts,

1)Any expenses claimed by the assesses (i.e. Individuals/Firms/Companies),but suppose any bills is not in the name of assessees but in the name of Individual/Partners/Directors
(in bills address is mentioned residents as well as office) then this type of expenses is allowable as per I.T. act.? under what section?

2)Any expenses claimed by the assessees (i.e. Individuals/Firms/Companies),but suppose any bills is not in the name of assessees neither in the name of Individual/Partners/Directors (in case of leave & licence place or vice versa),then this type of expenses is allowable as per I.T. act.? under what section?

Pls.solve my query asap.

Regards,
Prakash Jasani
4th June 2008

Hi,

I am passing my expense entry as follows.

e.g telephone exp

Telephone Exp Dr.
Service Tax Dr.
To MTNL

Now while making FBT calculation if i take whole telephone bill amount it means i am paying FBT even on Service Tax and it will be like double taxation.

Please suggest what is a proper way.
Wheather to take telephone bill excluding serv. tax or including service tax for FBT calculations

Vivek
Thanks

Parent Company issuing rawmaterials, stores and incure other expenses for manufacturing final product by its subsidiary, and the final product is not excisable, final product
come back to parent company and parent company paying processing charges to subsidiary, my question is whether its a business auxiliary service and whether service tax is applicable..... expecting reply soon....... thank u.

A very funny situation has arisen. One of my clients, a mailing agency, has been asked to remit service tax on the postage franked for his clients by franking machines licensed by Post Office. The franking of postage is in lieu of physical stamp being affixed. The Indian post office Act says that it is a "duty" levied for transmission. In the account books of all business concerns, the postage is "liquid assets". The post office 'sells' postage, which means it is goods.
Further the TRU cell of Service Tax has notified that the basic mail services (which includes franking) of post office are exempted from ST. The post office also undertakes franking like mailing agency and charges different rates without any Service Tax.
I feel that the demand of Service Tax authorities that ST must be paid on the postage franked by my client is not valid.
What do the experts say? I am anxious.
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