hi all


i want to know what is the basic processor & formalities of FBT like..
Form
heads on which tax is applicable
Tax rates
Date of filing Return ie annually semi annually quarterly or monthly

Thanks & Regards
Vipan

assessee maintaining proper day book but not maintaining subsidiary ledger ,can the assessing officer on this ground reject books of accounts?

whether export sale should be booked on FOB or CIF price, when invoice is prepared on cif.please tell me relevant AS requirement or guideance note req or any other?

hi
sir i have the query that my mother has sold a land on 25/may/07 Rs. 600000/
bought at a price of Rs. 130000/ and deposited Rs. 430000/ in capital a/c. now i want to know that is interest received on this amount is taxable and also in order to save tax i.e. LTCG in what properity should i invest.

Sir,

My client is Doctor and he file his return regaurlary with payment of nominal amount of tax around Rs.200-500. Duuring the Financial year 2006-07 his Income below taxable. On that basis he would not like to file return in future.

pls advise me what will do for stop filing of return in future.


Regards,

Baljinder Singh

Conveyance Reimbursement comes under the ambit of FBT, but for employee it requires submission of bills, what if emloyee could not able to provide entire conveyance reimbursement bill which is paid as CTC to him , which is included as a Part of salary on which employee also has to pay Income Tax`on that @ 30%. & Co. pays FBT around 7% simultaneously. this is double tax on emloyer & employee.

what could be the alternative of this.

NO the concept is that this is double taxability eother in the hand of employer or employee.

take the eg of Superannuation of more than rs 1 lacs FBt is leveied on this as well as it is taxable in the hands of employee.

Review has to be done by us on this ground

Regards,

vivek gangwal

I would be very happy if anyone could clarify me in this regard. I have done 1 year articleship in a firm where i was totally abused. I was given no exposure and i was completely made to stuck with a single useless audit. The worse part was that I was made to do cheap personal work of my boss like delivering his daughters mark sheets to government dept, handing over files etc many times without even giving conveyance. I left the office 6 months back. I came to know just yesterday that using article services for purpose other than professional work is a misconduct. I just want to know if I can initiate any proceedings against him in the Council despite the fact that more than 6 months passed since my quitting the office.If yes what is the procedure ? I would be very happy if some one could help me give advice in this regard..

In Gujarat, this time VAT Audit is required for those whose turnover exceeds Rs.1 crore, in that situation, we came to know that when one concern passes thru two audit under a year then it requires 3CA reports instead of 3CB under Tax Audit. Is it right ? If not , then when and where 3CA is applicable ?

An individual, who is a computer engineering professional is in the job of posting advertisements on the websites of clients. He is not involved in making the ads and works from off-site location. Whether service tax is attracted?

Sir,
I am doing Tax Audit for a realty development company. The company had made adhoc provisions on 31.03.2007 for various expenses to be incurred in subsequent months for the various running projects, but the client has not credited TDS account for the liabilites created.

The client is reversing the provision account on 1.04.2007 and then subsequently on the receipt of the bills for various expenses, is booking the expenses and TDS account. The client is taking the stand that for the expenses booked before 31.05.2007, it has booked TDS and paid the same before due date and has filed TDS return.and as the liability was provided before 31.03.2007 (which is aggregate of the creditor and TDS account,but the TDS account was not hit),
the client is liable to claim the expenses for tax purposes.
Should the expenses which are credited during the period 1.04.2007 to 31.05.2007 be allowed or disallowed for the computation of Tax.

Please guide me for the same


Regards

Ankur Jain