Car Insurance paid on 01.02.2009 RS. 12000/-. Thus in the FY 2008-2009 a sum of 2000/- booked as insurance exps and balance Rs. 10000/- transferred to prepaid Expenses.
Pls confirm that FBT will be payable on Rs. 2000/- or Rs. 12000/-?

A company has hired cars from a party, the agreement states that the party will bear all maintenance charges and the Company will use its own drivers and also bear fuel expenses. What I want to know is whether TDS has to be deducted under 194C or 194I ????

Retainership fees paid to qualified people like civil eng. what will be the tds deduction? 10.3% as professional or 2.06% as contractor basis?

Within how many days the shares are to be allotted after receiving share application money?Is there any procedure to be followed for allotment of shares.

We hire vehicle on a contract basis for transportation from warehouse to distributors on fixed monthly hire charges.My question is whether the TDS will attract as a contractor u/s 194C or it will be treated as rent and deducted u/s 194I.Plz suggest

Dear Friends,

I have one query....

My friend bought a House under Housing Board Scheme in 1988. But the Sale Deed for the same has not been executed by the Govt. in favour of my friend conveying the ownership of the house. In the meantime, during 1998 he sold the house by executing Power of Attorney in favour of a buyer (of course, sale consideration not mentioned in PoA)with an understanding that the sale deed will be executed immediately upon conveyance of the same by Govt of Tamil Nadu. Now, the Govt. has decided to convey the property through sale deed. Now, my friend would like to execute sale deed once the initial sale deed has been executed by Govt. of Taml Nadu. Now, once the sale deed is executed by my friend and the PoA holder, whether the capital gains arising out of the transaction is governed by income tax? Then what is the value of sale consideration to be taken for the purpose of capital gains tax?
please clarify

Dear sirs,
In a Proprietor Ship a Car sale on 4 th march 2009, Book value is on 1.4.2008 Rs.435000/-, Car Sold at 335000/-

My question is Depreication will be calcuated for 11 months and deducted from book value and How i give treatment of Profit / loss on sale of car,please explain from entry level

Secondly buy a new car on 05th march 2009 what would be % of Depreciation for 2008-09, Kindly reply.

Dear Sir,
I have a query that how many Percentage i can utiliese cenvat for the same catagory? Is it maximum 20% of total service tax payable of the same catagory?
Krunal Vyas

If a person receives RS15lacs cheque from his Mami,will it be taxable?

If yes then to whom the person or his mami?

pls explain.

If a person receives RS15lacs cheque from his Mami,will it be taxable?

If yes then to whom the person or his mami?

pls explain.