hello sir, one of the assesse has engaged in readymade business , he filed return for two f.y showing income as retail cloth merchant. as we all well know that there is no tax on cloth items. There is no bill for showing as purchase goods . Now the government has issued sec 269st rules. at this stage what the assessee has do....no trade licensce , no current account the assessee is in doubt that how he will follow sec 269 st rules by paying through bank.... either he has start new business through new trade license..... plz suggest

Hi ,Am working as a consultant not as a employee in a proprietary firm I get 3,00,000/- per annum .my employee deducts 2500 per month as TDS . Do I need to pay IT or can I claim all the TDS deducted amount.How much IT to be paid .

Respected Members
If a firm bought a knitting machine of 10 lacs and paid cartage for machine 15000 and paid wages to cranes and labour 12000 and also paid 8000 installing charges Thus total paid amount of 10.35 lacs rs. Can we considered all 10.35 lacs rs as capital expenditure and claim depreciation on this whole 10.35 Lacs or we can claim only machinery price 10 lacs rs and all other expense as indirect expenses

Please help me in this.

I have to ask whether expenses for a employee foreign trip can be booked under Exgratia head. And is their any T.D.S. liability also?

Dear Experts

If a firm buy a accounting software in 6000 rs. with one year validity and after one year its renewal charges is 1500 rs per year. Please tell should we considered it as an asset or indirect expense and if it is an asset can we claim depreciation on it. and how to treat its annual renewal charges. if possible please also tell it's journal entries from buying to renewal charges

How to compute the Gratuity amount of an employee who joined 01.12.2003 (continued till 30.09.2015) in the organization as full time employee and from 01.10.2015 to 31.03.17 he opted to work as a part time employee. To compute no of completed year, what should be a full year is it calendar year (January to December) or financial year (April to March).

how to revise holding company(comsolidation ) in ca final FR in most efficient manner timewise...so that out of a 16 mark qusstion i can get 8-9 marks ?(i dont want full 16,i want the attempting strength) would only PM questions suffice,considering the time constraint?

I sale product through swapping machine. is it cash sales or credit sales?

can i do chapters from p.m only??..if not suggest me which book is better surbhi bansal or pankaj garg??

Respected sir/Mam ,Will it be okey if we ,for our convenience, start any question with working notes and main portion of the answer following it? (As , if , required in partnership questions).