If I am a commission agent/broker. But the whole monetary transaction is Going through my bank account, then it will be Considered as trading business or there is no problem in making transactions through my account??? For eg: I sell fruits on behalf of a Farmer and the customer pays full amount to me then i deduct my commission from it and pay the balance amt to the farmer... Is there any problem in doing transactions like this or i have to show this as a trading business and go for Audit if transaction crossess 60 lakhs??

how to reverse a provision which is in excess of actual required for ex ; car charges Rs 50000 provided but actually ascertained as 45000 only how to reverse the provision

What is the meaning of non-trade investment and trade investment? Kindly explain with examples. Please give the answer from the point of view of a non-investment company.

why is fixed OH recovered on the basis of normal capacity when actual production is less than or equal to normal production and recovered on actual production basis when actual production is more than normal capacity? and what actually is fixed production and overhead recovery means ? please

Please tell me if a dealer registered under DVAT and CST fails to file qtrly return as well as tax deposit due to some reason. but return filed and tax deposted late. what are the conciquencies

Dear Sir,
1) We are purchasing come commercial vehicles & paying RTO & Insurance chgs., as per my understanding these RTO & Insu. is to be capitalised along with vehicle. Pls explaim m i correct?
2)Pls tell we also pays insurance every year then why next year we expense out these charges.

Many Thanks

Rahul

1.AS-2 Valuation of inventory :
company borrow money for working capital. can this borrowing cost include in inventory ?

2. can company follow cash system for income tax ??

3. can professional persona prepare books of a/c under cash system . follow as? or not?

4. AS-25 interim financial report is only applicable to enterprise prepare quarterly result ??

My CA Final attempt is due in May 2013.
please tell me that IFRS will be applicable for my attempt or not ?

An order is received in the month of April for a particular commodity. The sale price is realised in the month of June. The commodity is transferred in the month of May. Money will be deemed to have been realised in the month of May and not April to June.
.
Can anyone explain this concept to me.?

my query is i am filing our etds return with software saral tds i filed return for 2010-2011 in that 1 challan paid late example payable date is 31/3/2011 but i paid 27/09/2011, i filed return whatever i paid before march 2011 challan matching except that late challan still shows mismatch pls help in this matter