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?

sir
my company doing construction of roads
company pay cash to its workers morethan rs 20000 on one day it is allowable
and it is laiable to deducte tds

Disallowance of expense - in case TDS is not deducted and the amount is carried forward in inventory.
What would be the effect of the amount which ought to be disallowed

A company fail to book TDS receivable from party and file his return for that year, during the subsequent year he got a TDS certificate from the party and want to adjust the same during the subsequent year against IT of that year.

Kindly let me know whether the Amendments made to indirect taxes in the Finance Act 2008 is applicable to November 2008 CA Final Examination.

Further for Nov'08 Exam amendments upto which date will be applicable

my company sale mutual funds with sst.
comapny laible to pay tax @ 10% on sale of mutual funds
if sst paid whether it is shortterm capital gain exampeted or not

Anybody who can tell me whether PF should be Deducted at the time of resignation on leave eccashment or not...?

can STT deducted on the redemption of mutual fund can be claimed as an expenes in the books. and dividend rece. on it is exempt. fron tax?

plz tell me that my books of account is showing the value of investment Rs, 501471/- but as per bank portfolia it is Rs. 1104571/- how can i adjest these difference( it may be for reinventment of dividend and STT)