Fringe Benefit Tax for the period jan-march is to be paid by 15 march itself.Since it has to be paid on 15 march itself it involves estimation of expenses on which FBT is payable. To avoid short payment it is likely the company will estimate its expenses on higher side and pay the amount to Dept.

My question is:

1)Can one adjust the FBT paid in excess in the last quarter of the year in the first quarter of next year?


2)If no, what is the procedure to apply for refund ?(Please let me know the date before which one can apply for refund, the form to be used etc)


Thanks.

I have to Pay gratuaty to some of my staff. One Mrs. Geeta completed 16 years & retiring form service after attaining the supper annuation period on Aug' 08. And also I want to pay the gratuity to those staff who is still working & completed nearly 15 plus years of service and will continue another 10 Yrs.

thanks, If any one give detail of calculating the Gratuity.

Azmathullah Khan

A person has shown ACCRUED interest on NSC under the head " Income from other sources".

Can he show interest earned on Fixed Deposits of banks on RECEIPT basis? Is it necessary for him show interest on FD also on ACCRUAL basis?

The assasee is an individual having income only from Salary and Income from other sources

Sir, one of my client had commenced windmill project during the year 2006-07 from april 07. He had claimed depreciation @40% instead of 80% and for the balance income after deducting the above depreciation he had paid Income tax. Whether can he claim depreciation @ 80% for the FY 2007-08 from the opening WDV or whether it is possible to file a revised return and get refund of tax paid for the year 2006-07

what is it

Please guide, how the TDS provisions are complied with if a company do not directly incur the expenses but makes the reimbursement of expenses to the staff, in the 2 situations mentioned herein below.

1. Invoices are in the name of employee.

2. Invoices are in the name of company but payment was made directly by the employee and later on reimbursed by the employer.

Whether TDS to be deducted on foreign commission paid outside india relating to sales.

Whether thare are any amendment or any new changes in 3 CD form or 3CA or 3CB applicable to financial year 2007-2008( Assessment Year 2008-2009) as compared to financial year 2006-2007 (Assessment Year 2007-2008)for tax audit purpose ?

If yes, then please provide new form 3CA Or 3CB Or 3CD, if applicable.

Please provide immediate reply.

Thanks,

Snehal

X Ltd; is in the course of being wound up.The winding up has been put on hold as a petition has been submitted u/s.391 of the companies act by a member. The company has amounts due to secured creditors. The company is a real estate company. So the land held by it is treated as
stock in trade. The question is 1) If the land is sold in auction , will the amount be treated as business income? 2) will the company be liable to pay tax on the amount received on the amt remaining after payment to secured creditors 3) will the expenses met by liquidator be deductible?
4) please suggest relevant case laws.5) Will the IT department waive the income tax in any case?

DEAR SIR,
IN WHICH SECTION TDS IS TO BE DEDUCTED ON HIRING OF CAR & OTHER HIRE CHARGES LIKE ELECTRIC EQUIPEMNETS ETC.

AND ALSO PLEASE TELL ME THAT WHETHER TDS WILL BE DEDUCTED ON SERVICE TAX OR NOT??

THANKS AND REGARDS

VAIBHAV GORECHA