ABC is a private limited company engaged in pharmacy distribution. During the year the company has paid 100000/- for private journey of MD and his family.In this case I would like to know will it be considered as private expenses of MD or company can claim as business expenditure and pay FBT. If FBT then what would be FBT percentage.

There was an amendment made in Finance Act 2008 for CST.The same is approved with some modification on 10 may 2008.

What is CST % for the year?

Wheteher it 3 or 2%?

A bank provides taxable as well as exepmted sevices. but does not maintain seprate books for that.now if bank pay service tax on input service like hire expenses of car for there employees n it is not possible to provide direct relationship between taxable output services n car hire expenses can bank can bank utilise credit on hire expenses of car?

What constitutes turnover U/Sec.44AB of Income Tax Act relating to Trading in Shares, are there any circulars by CBDT?

While preparing the P&L a/c under Sales turn-over I have taken sales amount + VAT i.e. total invoice amount. While preparing the return my auditor has set off the VAT component against VAT paid (expenses) and take only the bare sales. To my knowledge Sales turnover has been defined in the IT Act. Will some CA clarify supported by sec. no. and contents of the relevant sec. Thanks in advance.

dear friends,
i am doing articleship and getting stipend of Rs 10000 pm and other interest income of Rs 100000 per year. my question is whether stipend is taxable and if taxable under which head it is taxable and if exempt plz tell me relevent section of IT act.

dear sir,
i am suppose to do summer project on 'top five diversified mutual funds & opportunity fund'.so can u pls guide me regarding doing this project in the best way.

thanking you,

regards,
kamal

Valuation of Property fees debited by bank in party account on behalf of party , and bank reimbursed this amount from party Accordingly party booked this expenses under head professional fees. The TDS liability arise as professinal fees paid then who will deduct the TDS Bank or party . Kindly let me know please

If I transfer a sum to my father for his livelihood through bank.
The journal entry would be

Drawings A/c___________Dr.
To Bank A/c

or will be treated as loan

Loan A/c___________Dr.
To Bank A/c

(Note: the amount is not refundable & nor i am charging any interest, its my responsibility to take care of them and hence its a transfer so that they can meet their expenditure as I live outside town)

hello, i would like to know that who would be the best authors for all the subjects in the PCC exam...........my attempt is may2009