An Out door caterer supplied the foods, tea and snacks to the office premises. Said caterer is charging Service tax on total catering bills. Again he is charging VAT @12.5% on gross amount including service tax.
i) Is VAT applicable on outdoor catering Services.
ii) On which value VAT should be charged.

Hi All,

I would like to know what exactly is FBT & STPI? At what rate is this calculated & how?
Please provide some web address also.

Regards,
Maria

Dear Sir,
In a querry raised by maria just today regarding interest on two H/L , out of which one house will be self occupied and the other rented, why interest of only 150000 will be allowed. I think that in case of self occupied house, the individual can claim max H/L interest of Rs 150000 and in case of house which is let out , the amount of interest which accrues will be allowed.So I think the individual can claim the benefit of interest on both the H/ Loans. Yes principal repayment will be restricted to Rs 100000 u/s 80C. Sir please clarify whether I am right or wrong.

what rate will be applicable on recruitment agency 194j or 194c.
Can i deduct tds U/s 194c from recruitment agency.Plz give me the refence of circular.Plz reply me

Will u Pls tell me whether the interest received for late payment on accident Compensation of MACT claim is taxable or not? I m aware that the compensation is exempt in the hands of legal heirs but pls tell me the taxation effect of Interest recd. on the same in the hands of legal heirs of deceased. the client wants refund of TDS deducted on the said interst

Thank you

Dear All

One of our company executive have taken training from an institute & training fees paid by company & now as decided in between company & its 4 customers that co. executive will give training to them & cost will be borne by all of us on equally contribution. so if we (company) take money from customers than should we charge service tax on that amount or this is exempt from service tax because its not services its only cost charging from them.

Please advise

Deepak
+91-9891006006

Is it the responsibilty of the employer to vouch the correctness of information regarding savings given by the employee in his TDS declaration?

Is there any recent case law regarding this?

At prest we book a purchase value of new mobile as expenses instead of assets booking.

Now our internal auditor recongnized as assets & statutory as expenses , b'cause statutory argue that nowadays mobile is a very changeble instrument. So don't provide it as assets.

Now tell us should we continue with expense or go with internal auditor as assets

hy
my clint(pvt.ltd. company) is processer and trader of seeds items. he guide to former in that how the seeds grow in good quality and he expensed rs.700000 during the year 2007-08 and treated it sales promotion expenses.
is he liable to pay FBT ? if yes can we change its group in which FBT NOT LIABLE ?
pls reply me

CA MOSAM SHAH

Hello Experts. I have two queries .
1.It is said that FBT is applicable only on expenditures which are allowed by IT Act.If one particular expenditure, which attracts FBT has been disallowed on the grounds of non deduction of TDS, then what will be the tax implication with regard to FBT? If the assessee claims the abovesaid expenditure next year by duly remitting the respective TDS amount, will there be any chance of paying FBT on the same as FBT was not applicable last year due to disallowance?
2. If an employer pays the income tax of his employee, will this be regarded as a perquisite and taxed in the hands of the employee or will the employer be liable to pay FBT on this amount?