Important: PCC Income tax problem

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Accountant
611 Points Posted on 12 June 2009

 

Problem no.2, 20 marker in that they have given fbt(debited to p&l) which everyone will disalloww.. right.. but the problem is fbt is not appalicable to individuals so wen we calculate tax liabilty
flat rate @ 30%(if we assume co or firm).. or slab rate applicable
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On 12 June 2009 at 17:48 Report
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CA in Practice
35867 Points Posted on 12 June 2009

Please elaborate the question more.

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On 12 June 2009 at 22:26
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Originally posted by :srikanth
"  
Problem no.2, 20 marker in that they have given fbt(debited to p&l) which everyone will disalloww.. right.. but the problem is fbt is not appalicable to individuals so wen we calculate tax liabilty
flat rate @ 30%(if we assume co or firm).. or slab rate applicable		 "

be clear in asking question. don't confuse others.

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On 04 October 2009 at 20:06
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employed
2574 Points Posted on 04 October 2009

Ahh.. the test is only if you know whether FBT is disallowed U/s 40(a)(ic)... FBT is not covered at PCC level...

 

But tumne to examiner ka waat laga diya! Good observation!

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On 04 October 2009 at 20:45

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