A company provides Transportation allowance to employees which is exempt under Section 10 to the extent of Rs.800 P.M. in the hands of the employee. Whether the Company has to pay FBT on the transportation allowance given to its employees?

can any one provide case laws on setoff business losses from income from other sources?

WHETHER FBT IS APPLICABLE ON REIMBURSMENT OF PETORL EXPS. TO EMPLOYEES?

AND SPECIFY WHETHER ANSWER WILL DEPEND UPON PETROL USED FOR CAR OR SCOOTER/BIKES

Sir,

I am working in muscat, and i am preparing on my own for the final exams which is scheduled in may 08. i am preparing for both the groups.

can anyone suggest me how to go about covering the entire syllabus for both groups and come out in both groups successfully in may 08

thanks in advance

Balaji S.

what is the meaning of "fmv of the date on which option vests"in amendment in finance act
2007? word "vests" means- 1.securities offered or 2.option opted by employee

NET SALES REVENUE 475000
COST OF GOOD SOLD 200000
GENERAL EXPENSES 100000
DEPRICIATION 50000
PBIT 125000
INTEREST 25000
PBT 100000
TAX @ 40% 40000
PROFIT AFTER TAX 60000

Q.1 WHAT IS ANNUAL CASH INFLOW CONSIDERING INTEREST EXCLUSION
PRINCIPLE WITHIN NPV METHOD?
Q.2 WILL WE TAKE TAX SAVING ON INTEREST , REASON?
Q.3 WILL WE IGNORE INTEREST DUE TO ABOVE MENTIONED PRINCIPLE
, GIVE REASON?

I WILL BE THANKFUL FOR YOUR RESPONSE , THANK YOU IN ADVANCE.

Hello Everyone,

I am new to this forum but find it an excellent platform to exchange ideas and get help to any queries one may have.

I am currently based in singapore studying master's degree in international accounting which more or less emphasises on International Financial Reporting Standards.

I need a big favour in regards to a couple of assignments that I am working on. The first one is based on a few questions related to accounting treatment under IFRS and the second one relates to Net Present Value with sensitivity as well as scenario analysis.

I would be highly greatful if any one can give some time and help me out with these queries. Thanks a lot in advance.

Please contact me on bgarima01 at the rate of googlemail dot com

Regards,

Garima

What is the difference between Domestic Company and Foreign Company

Dear Sir

Who is liabale for TDS on freight in following cases.

(1) A trader who is from Indore and dealing in grains and purchases grain from a station i.e. Kota and directaly sold Grains to Pune and bilty of freight is in the name of Indore trader. partial payment of bilty was made by agent of trader at kota and partial was made by trader of pune and recovered from trader of Indore.

My vendor has raised a invoice for a prior period Interest...will this be a allowable expense in my books...