Question { Honda, 4156 }

If we are late sitting in the office after office Time then
any expenses like Fooding charges is made during this hours
is taxable under FBT??? If there are Two conditions 1.
Staff take reimbursement of such expenses. 2- company
directly pay expenses

Answer

FBT is no more applicable hence it is not Taxable. It has
been removed in Finance Budget of 08-09.

Further You are not liable to pay any FBT. firm is liable to
pay FBT so you need not to be worried.

Question { 3029 }

My estimated income for the financial Year 2009-10 will be
485000/- please make a tax plan to escape legally from
paying taxes

Answer

485000.00 Gross Income
Less : 180000.00 Deduction Available in Income Tax.
Bal. : 305000.00 Taxable Income ( A )

Deductions you can Avail
9600.00 You can deduct as Conveyance Exps.
50000.00 You can deposit in PPF.
100000.00 You can buy NSC.
2500.00 Your PT deductions
Your Housing Loan, Car Loan Etc. at actual
you can claim.

Question { Global Energy, 7732 }

what is the time limit of tax credit in sales return
condition

Answer

In both Case CST & VAT it is 6 months