Suppose i had purchased a diwali gift for staff worth Rs 10 lakhs, the bill is yet to be booked, so while preparing Advance FBT Return should i consider that FBT Amount or not. If i just make a provision for exp at the year end when the liablity for FBt will occur

Dear Sir,
We are a research firm, where our staffs members are suppose to travel and incur lot of other out of pocket expense like Telephone/conveyance etc. on behalf of the client. We get the reimbursement of these entire amounts from the clients on actual basis.

We as Company are under obligations to pay FBT on all these expenses; can we charge this too from our clients along with the basic amount? Is this legal? Like in case of sweat equity or ESOP section 115WCA allows employer to recover the actual FBT amount.

I am at present claiming medical claim for domicillary treatment. whether i can calim the amount received on the above under sec 80 D. At present iam taking the the amount recvd as perquisite for caliculation of itax.

Quaterly statement of tax deducted at source are to be furnished in case where tax is deducted on or after 1st april,2005 if no tax is deducted in a relevent quarter then quaterly statement i.e. 24Q,26Q are required to be filed or not.

Can i claim the deduction u/s 80C for the repayament of housing loan if house is taken on lease for 99 years.

IN THE FINANCE BILL 2008 PAYMENTS ARE MADE
IN EXCESS OF RS,20000/- ARE TAXABLE IN THE
HANDS OF ASSESSE
WHETHER I PURCHASE GOODS IN CASH IN A SINGLE DAY LESS THAN 20000/- BUT TOTAL PURCHASE IS RS 75000/-THAT IS FOUR BILLS
WHETER THE ABOVE PURCHASE IS TAXABLE IN THE ABOVE SECTION

We Joint Venture Partners the details as follow
1. Pratap Engineers & constructions – Proprietorship - 49% (investment & Pro/Loss)
2. Raju Constructions – Partnership – 51%(investment & Pro/Loss)

The above organizations formed a Joint Venture Called as “Pratap & Raju JV. And executed the Hydro Mechanical works

How can I file the IT Returns? What rates will I calculate (one part is Proprietor and second part is Partnership)

If service tax applicable, payable by monthly or Quarterly?

And explain the accounting procedure at the time of closing the Joint Venture accounts

A trust who is registered U/S 12AA is running Educational Institution and whose gross receipts is more than One Crore is compulsorily required to apply for exemption U/S 10(23)(vi) or the trust has option to get exemption U/S 11 of the Income-Tax act, 1961.

CA RK Bhardwaj

Hi,

Below is the salary structure.Could you please let me know the best struture to have minimum tax liability assuming employee is ready to bear FBT

All the figures below are per month
Basic:100000/-
HRA:50000/-
Conveyance:800/-
Medical:1250/-
LTA:20000/-
PF(EMPLOYER):780/-

i want to know about FBT