FB TAX CALCULATOR

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FB TAX CALCULATOR Powered By Docstoc
					                                    Prepared by Sunil Gupta


S.NO.   OPERATING & GENERAL EXPENSES                      Whether                   Any/No
                                                          Effect/Subject to FBT
1       Crockery, Cutlery, Silverware and Linen           No Effect
2       General Store & Spares                            No Effect
3       Fuel, Power & Light (Net)                         No Effect
4       Optional Hotel Services                           No Effect
5       Repair & Maintenance(Except Car, Aircraft)        No Effect
6       Rent                                              No Effect
7       Rates & Taxes                                     No Effect
8       Insurance((Except Car, Aircraft)                  No Effect
9       Director’s Fee                                    No Effect
10      Artist Fee and Legal & Professional Fee           FBT : If any Fee is paid alongwith
                                                          conveyance and tour expenses
                                                          then      conveyance   and    tour
                                                          expenses are subject to FBT @
                                                          20% tax liability 6.732%
11      Printing & Stationery                             No Effect
12      Tour, Travelling & Conveyance(Including Foreign FBT subject to FB@ 20% tax
        Travelling, hotel, Boarding & lodging)            liability 6.732%
13      Telephone & Communciation(Including Mobile) FBT subject to FB@20% tax
        except data transmission lines used(Leased Lines) liability 6.732%

14      Entertainment, Advertisement & Publicity(Including FBT @ 20% tax liability 6.732%
        Sales/Business Promotion)
                                                           Except:     1.   Sales   promotion
                                                           expenses like expenditure on
                                                           advertisement in print, electronic
                                                           or transport system.
                                                           2. Expenditure on press conference
                                                           or business conventions, fairs or
                                                           exhibitions.

                                                              3. Expenditure on sponsorship of
                                                              any    even     organized      by
                                                              Government agencies or bodies.

                                                              4. Expenditure on publication of
                                                              notice required under new law, by
                                                              order of court or tribunal.

15                                                            5. Expenditure on advertisements
                                                              or to any payment to any
                                                              advertising agency for the any of
                                                              the expenses included under Item
                                                              1 to 4 above

16      Entertainment                                         FBT @20% Tax liability 6.732%

17      Article for Presentation                              FBT (Gifts) FBT 50% Tax Liability
                                                              16.83%
18      Membership & Subscription                             No Effect




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                                  Prepared by Sunil Gupta


19   Conference & Arrangement(other than fee for FBT @20% Tax liability 6.732%
     participation    by   the     employees  in  the
     conference)Explanation – for the purpose of this
     clause, any expenditure on conveyance, tour and
     travel (including foreign travel) on hotel, or
     boarding and lodging in connection with any
     conference shall be deemed to be expenditure
     incurred for the purposes of conference)
20   Security Charges                                       No Effect
21   Hire Charges                                           No Effect
22   Vehicle running and Maintenance                        FBT @20% Tax liability 6.732%

23   Rebates & Discounts                                    No   Effect
24   Commission                                             No   Effect
25   Charity & Donation                                     No   Effect
26   Licence Fee                                            No   Effect
27   Provision for doubtful debts/advances                  No   Effect
28   Preliminary expenses written off                       No   Effect
29   Miscellaneous expenses                                 No   Effect
30   Cartage & Freight                                      No   Effect
31   Tax paid earlier years                                 No   Effect
32   Bad debts/advances written off                         No   Effect
33   Purchases for resale at shop                           No   Effect
34   Software expenses                                      No   Effect
35   Lease Rent                                             No   Effect
36   Amalgamation expenses                                  No   Effect
37   Loss on sale of assets (net)                           No   Effect
38   Loss (net) on sale of investment                       No   Effect
39   Net Loss on derivatives trade                          No   Effect
40   Provision for diminution in value of investment        No   Effect
     short term
41   Provision for diminution in value of investment long   No Effect
     term
42   Branch /HO Expenses                                    No Effect
43   Salaries Wages and Bonus                               No Effect
44   Contribution to Provident Fund & Other Funds           No FBT
45   Workman & Staff Welfare                                FBT @20% Effective Tax 6.732%,
                                                            except    to     meet      statutory
                                                            compliance like providing shoes,
                                                            uniform clothing required as per
                                                            law, and Any expenditure on, or
                                                            payment for, food or beverages
                                                            provided by the employer to his
                                                            employees in office or factory
46   Gratuity                                               No FBT
47   Recruitment & Training                                 No FBT
48                                                          FBT    @20%        Effective Tax
     Repair, running (including fuel), maintenance of motor 6.732%(lower rate in case of
     cars and aircrafts and the amount of depreciation certain asessees engaged in the
     thereon                                                business of transport)


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