Hi

asked this question under your forum, but didnt get many reponses, so putting it here. Sorry, if this is not the right place.

My company gives me the option of "Fuel and Maintenance" of upto Rs. 1,50,000/- per annum in my CTC.On showing proper bills every month, I get this money in my salary (as a part of CTC ofcourse) and this Rs.1,50,000/- is not taxable. My questions are following:

1) They have deducted amount of Rs. 10,200/- as FBT @ 6.80%. Is this correct (the %age of 6.80)?

2) I gave them a bill(cash memo) of Rs. 13,500/- from an authentic repair center which was just labour and denting work. But the bill didn't have any CST or service tax number. My company rejected the bill on the ground that it is not having CST number. Is a bill not considered authentic till it has CST number?? If they are not correct, could you please tell me the law under which this bill is authentic??

3) Going through topics on these websites only, can I give my insurance premium bill also under this category (under wat law) ??

4) Again, in the topics, there is provision for salary of the driver also. How can I show this as a part, as there will be no bill for this.

Any help would be appreciated, and if you can tell me the section and law also, so I can at least say something to the company people.

Thanks

Gagandeep Bajaj

(Software Engineer)

whether brought forward business depreciation can be set off against Salary Income of the current year ?

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