For sale of unbranded food itmes like sweets,bakery products,savouries etc composition is available....mjk

   I think the contractor is allowed deduction of 20% of total receipts towards labour charges. In the returns you have to declare total receipts and also show the authorised reduction of 20%. Then calculate your tax liability.By reducing that amount by the tds amount you will get the net payable/refundable amount....mjk

section 234A deals with "Interest for default in furnishing return of income" not payment of Income hence interest shall be payable as per Income Tax Act

However the judgement in case CIT v. Dr. Prannoy Roy and Another, 19 DTR 102 (SC) is reversed 

But in case of Examination ans. should be solved as per provision of IT Act but more better understanding releveant case and conclusion should be mentioned at the last of question

  Here I notice two errors. One WCT deduction(tds) @ 2% should not be made on Rs5,37,360/- but on Rs5,00,000/- only. So,the deducted amount should be Rs10,000/- only ,not Rs10,747/-.Secondly,the retention money at 10% also should be on the bill value only ,not including the taaxes payable. This amount must be Rs50,000/- only ,not Rs53,736/-. The client has to pay Rs4,71,986/-.Net payable will be Rs5,000/-.TDS should be done on the principal amount and not also on the taxes charged on it.......mjk

Dear Sir

One my cleint started a jewellery showroom as a private limited compnay with promoters A & B. The company paid 15 laks to the promoter A for using his brand name, which is already have good reputation in jewellery market, and Promoer A is having jewellery outlets of 10 with that name. How can we account the amount paid in the newly opened private limited company, as purchased goodwill......If yest, in that case, can it capitalize and amortize over certain period or be charged to the expense of the year it incurred??

Please clarify

Thanks

Shanvas

Dear Friends.

what is the shortest way to learn Accounting standards and Cost standards.

I have to appear in the IV group of ICWAI. i have only 20 days. please save me.

regards

Waah ji waaah.......

Aapki shayariya padh k toh sirf wah hi nikalti hai muh se..................

Nice.........

Be proud of who you are........

 

mere pass kalra sir aur aditya jain dono ke class notes hai...ab problem yeh hai ki samajh nhi aa raha ki kaun se notes se padhun....

Nice article sir...........

Criticisms are good things. They help us look at ourselves, to check

and improve. There are situations where you feel that nothing

you say or do seems right, where there is constant criticism.

How do we satisfy people at that time? We must first be

satisfied with ourselves before we can satisfy others. If we do

not have the power to quickly change the negative attitude of

others, we must atleast start with ourselves.

Change our attitude towards the one who is constantly criticizing.

Adopt more positive approach. Positive thoughts, words and actions

will eventually bring positive results. Continue acting in this Godly

manner. Atleast God will be pleased with you..........

Life is Beautiful, just read it........

The fact that you were born,
Is proof, God has a plan for you.
The path may seem unclear right now,
But one day you will see,
That all that came before,
Was truly meant to be,
God wrote the book that is Life,
That’s all you need to know.
Each day that you are living,
Was written long ago.
God only writes best sellers,
So be proud of who you are,
Your character is important,
In this book, you are the ‘Star’…God has a plan and purpose for all of us…….!!!

hello sir how r u

Truth and courage

When George Washington was a small boy he lived on a farm with his family. His father had an orchard of fine fruit trees. He had planted a cherry tree and had told everyone to be careful and not harm it while it was growing.

         One day, little George was gifted a new hatchet.

He was very excited and wanted to try it out. So he started cutting and chopping anything that he saw. In his excitement, he also chopped down the cherry tree without realising it. 

Soon enough, his father found the cherry tree cut down and was very angry. He demanded to know who had done it, but no one knew anything about it.

         Finally, he asked George. George trembled with fear but decided that he should not lie.

He gathered his courage and said,"I did it with my hatchet".His father asked, "But why did you cut the tree when I had told you to be extra careful with it?"

         "I was playing with the hatchet and I did not think. I'm extremely sorry, father. I will always think before I act."

         Although George's father was sorry to lose his cherry tree, he was glad that George was brave enough to tell the truth and to take responsibility for his actions. He said, "I am happy that you told the truth. Truth is a quality of God. You must always practice it." George never forgot his father's words.

         With his great qualities and love for truth, he went on to become the President of USA.

Really nice 1.................

Really nice 1.................

Heehhehhehhee..................

nice sharing Tanvi ji...............

Hehhehehhee...............

nice sharing........

Nice1.............

Simple n swt thought ....

Thanx Rajat ji 4 sharing..........

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