Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: empanelment :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT RATES :: list of goods taxed at 4% :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd
 
 
News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

Small companies axed by fringe tax
February, 13th 2007

Arun Gumber is working on his latest campaign, to launch his own brand of speakers across the country. His company Akriti Plastics, which until last year only supplied hardware to other IT companies, has a big plans, and a budget to match.

"Direct marketing expenses involve exhibitions, travelling, boarding and lodging. Ours is a new company and most of the expenditure is to be done on this behalf," says he.

But, every time Arun sends his sales force to dealers in the market or outside the city, his company - with a modest turnover of Rs 50 lakh - faces a taxing prospect.

"There are fringe benefit taxes that have been levied upon us -boarding, lodging and air travel - all related to the company. For people like me who have started from scratch its very unfair," says Arun.

Fringe benefit tax or tax paid has been a burning issue ever since it was introduced two years ago and many believe that specifics like travel, dealer meets and sales promotions - more company activities than employee perks - need be axed.

For a small company like Arun's, its proving to be a big burden.

"Chidambaram ji, we are a medium enterprise, our turnover at this point is less than Rs 1 crore. We are yet a loss making company. Don't you think there should be a threshold limit for imposing the fringe benefit tax?" asks a troubled Arun.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Contact Us

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions