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Experts Query Daily Digest : 26 January 2015
Posted by : maimuna
Posted On : 1/26/2015 5:33:00 PM
what should I refer for ISCA ?

Posted by : swapnil
Posted On : 1/26/2015 5:32:42 PM
Change in syllabus or not
Is there any change in syllabus of CA final subject of financial reporting

Posted by : Anonymous
Posted On : 1/26/2015 3:16:03 PM
Ias - 36 impairment of assets
1) Please do let me know the basic difference between & how to apply the method called as "bottom-up/top-down” approach.

2) Why impairment loss first distributed to G/W & then to other corporate assets.
Also no where it has been mention specifically definition of corporate assets. What does corporate assets means ?

If possible can jurist explain me the above mention query by the simple illustration.

Thanks a lot.
Posted by : shifali
Posted On : 1/26/2015 2:59:59 PM
Net worth certificate
what is the full format of certificate of net worth issued by CA to individual for visa?
Posted by : shivangi khakhkhar
Posted On : 1/26/2015 2:09:11 PM
Consolidated balance sheet
Please provide Latest format for preparing Balance sheet in Holding and Amalgamation chapter ... whether it is as per schedule 6 or schedule 3 with heading change.
Posted by : Niyas Bin Hussain
Posted On : 1/26/2015 1:53:12 AM
Tally balancesheet showing differents in opening balance showing liability side
please tell me the reason of not tallying the balance sheet other than those of difference in opening balance in TALLY SOFTWARE.... it is showing different amounts in total assets and total liability...

Posted by : Abhishek Sawant
Posted On : 1/26/2015 12:56:09 AM
Differred tax assets
X ltd incurred losses Rs 1 lacs in 2003. Profits of Rs.50K & Rs. 60K in 2004 and 2005 .It is assumed that in IT act losses can be carry forward for8 years & tax rate is 40%. It is virtually certain that co will profits in future etc. , It is assumed that there is no difference between Taxable income and accounting income except that set off of loss is allowed in 2003,2004,& 2005 for tax purpose. Answer is creation of DT assets of Rs. 40 lacs. Plz tell me how??? when no diff in IT and accounting income???
Posted by : sameekshajain
Posted On : 1/26/2015 5:11:09 PM
Ca final
how i prepare ca final audit and which books i should refer?
Income Tax

Posted by : yogesh batra
Posted On : 1/26/2015 5:49:03 PM
Withdrawal of deposit under capital gain scheme
whether can withdraw from deposit under capital gain scheme before the expiry ( three year from the transfer of original asset). I want to pay tax on withdrawal money. whether application for close account to income tax officer

Posted by : JALPA
Posted On : 1/26/2015 5:06:02 PM
Tds attracted or not
For the Payment of CIPET,Ahmedabad whether TDS attracted or not?? Because it is government institute.
Posted by : sukesh
Posted On : 1/26/2015 1:51:50 PM
Sec 115 ja (mat)
sir kindly explain me the applicability of MAT & the calculation done for it
Posted by : ashish gupta
Posted On : 1/26/2015 9:58:54 AM
why do government employees get many exemptions under income tax act and with that non government employee do not.
Posted by : ramnath ganesh subramaniam
Posted On : 1/26/2015 8:19:50 AM
Capital gains investment in foreign country
Dear sir
One of my client is selling a landed property in india . He is planning to pay capital gain tax in india . He wish to purchase a villa in his sons name in dubai .can he transfer funds to his son's account .what is the maximum limit . Whether any tax to be paid for the same and what is the procedure for transfer. The amount is 1.5 cr . Kindly advise.what is the income tax section allowing transfer .please help
Posted by : R. vishwanathan
Posted On : 1/26/2015 5:50:11 PM
Mp vat ,need help
MADHYA PRADESH VAT :-if there is goods on which ENTRY TAX is applicable, but party will give you declaration form so that it is NOT taxable in your hand
my question is Where to show such declaration form deduction in RETURN FORM.
Posted by : Mahesh Sanghani
Posted On : 1/26/2015 5:00:37 PM
C form not given by buyer in time ,so we pay difference in tax rate and interest .
This is peculiar problem,where charging local tax at 12.5% will drive away buyer and billing at 2% CST results in penalty and rate difference of taxes. Any solution ?
Posted by : shyam
Posted On : 1/26/2015 3:42:54 PM
Vat audit report upload
dear sir ,how to upload vat audit report in goverment website?
Posted by : mansi
Posted On : 1/26/2015 12:25:17 PM
About e1 & e2
Dear Sir

I just want to know in case we want to issue C Form against E2 , is it necessary that invoice of supplier in this should show CST in his invoice separately.


Service Tax

Posted by : deepak khandelwal
Posted On : 1/26/2015 5:41:41 PM
Is service tax chargeable on sale of self generated software
Company's main business is to develop and to provide service or directly sale of self generated software.

Is service tax chargeable, if the company sales self generated software amounting Rs. 1000000 ?
Posted by : vijay sharma
Posted On : 1/26/2015 2:02:13 PM
Processing fees on unsecured loan
Dear Sir,
One of my friend is a money lender holding ML license in his personal name, he intends to start a proprietorship concern and distribute unsecured personal loans, now when he charges processing fees does he has to deduct service tax on the PF and also interest will be collected by him from his clients at 1 % per month does service tax is applicable on his interest income also, please clarify.
Awaiting your reply in return.
Corporate Law

Posted by : Anonymous
Posted On : 1/26/2015 9:27:53 AM
Deault director
2 companies incorp in 2012. no reports filed to roc even appointment of auditor. can same director form a new company now ?

to correct the situation how to rectify. wat forms returns to be filed ? wat measures shud e taken ?
Posted by : swathisha.p.s
Posted On : 1/26/2015 5:41:17 PM
I had request for conversion from cpt to ipcc direct entry but yet I neither got any conformation for this nor the book . I have been constantly calling to icai and also mailing them.I don't know what else to do ..can someone help plzzzz
Posted by : CA
Posted On : 1/26/2015 5:27:04 PM
Sir, I am starting ISCA within a week for Nov 2015 from scratch.I will give 2 hrs daily.Please tell me how many days it will take to complete the syllabus.Regards
Posted by : manikanta
Posted On : 1/26/2015 3:06:02 PM
sir could you tell me when does icai starts ca branch in shimoga

Posted by : Amol Ashokrao Jambhorkar
Posted On : 1/26/2015 1:38:15 PM
as i complte my 2 years of article trainning registered under direct entry scheme till the date i dont do any GMCS. Can i do GMCS 1 & GMCS 2 at a time.
Posted by : pritesh
Posted On : 1/26/2015 12:11:29 PM
Ca final
very deppressed cannt clear both grp 5 th attemt pls help me... waiting for suggestion from expert.
Posted by : kaushal
Posted On : 1/26/2015 11:09:55 AM
which books is best weather tayal sir notes or bangar sir for idt final

Posted by : Swaraj Kumar
Posted On : 1/26/2015 10:58:27 AM
I am an article student
I want to know the details regarding degree under IGNOU open university
Is there any special exams are conducted for CA Students

Posted by : RANADEER
Posted On : 1/26/2015 4:41:41 PM
Sir , I am Doing ARTICLES UNDER CA . My Query is during articles any student should inform to ICAI any courses doing along with articles. So, I am doing open degree IGNOU... whether I require to Inform to the ICAI or not

Posted by : Anonymous
Posted On : 1/26/2015 10:33:53 AM
How to start professional life???
From august 2014,
Started woking as associate in CA firm in indirect tax division and like indirect tax

Our office provides service to client in the matters of vat, service tax ,excise and customs.

I am not able to apply the law to the practical situation. In indirect tax we have various indirect tax laws and so many notification, case law, circular on daily.
Now the GST is coming.

I just want to know, how I should start prepare for all of this and use of the same in practical situation.
Posted by : SANIA
Posted On : 1/26/2015 8:15:42 AM
Wealth tax
hlo friends, if a person has purchased a house by taking a loan from Bank then after 4 years i.e. 31st march 2014 value of the house is taken as same whether value of loan will be taken as same or the value as on 31st march 2014

Posted by : Anonymous
Posted On : 1/26/2015 2:08:37 PM
Rates applicable to disposable paper plates and cups etc
Rates applicable to disposable paper plates and cups etc??
Posted by : haneefbengre
Posted On : 1/26/2015 10:47:58 AM
Who can sign excise invoice
Respected , any one can reply...

who can sign central excise invoice..or any one can sign it...Please clarify the same.

Posted by : Hashim
Posted On : 1/26/2015 4:21:16 PM
Logo usage
Can a non practicing member permitted to use logo on car..
Shares & Stock

Posted by : Abhishek Sawant
Posted On : 1/26/2015 12:19:41 AM
Currency futures - final ca
Plz someone tell when to buy/sell currency futures in case of importer or exporter? Is it depends on Contract size or transaction currency. e.g. Exporter - Receipts due on 1/9/2005. As on 1/6/2005 :- * Contract size Rs. 4,72,000 * September future rate USD/Rs- 0.02118 (Indirect quote) As on 1/9/2005:- Currency future rate USD/Rs.0.02134 Answer is Buy Rs today ie. 1/6/2005 and sell on 1/9/2005. How????????
Posted by : Prateek
Posted On : 1/26/2015 1:49:16 PM
Amendments in law ca final
i purchased law book r.d maheshwari and munish bhandari in nov 20!4 attempt.. should i repurchase the book?? there r amendments or not? please guide

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