Dear Experts

we have purchase machinery to make one product. machine is not product specific , making of product depend upon the tool & die.

query is , whether the tool installed on machinery is capitalized with machine or capitalized separately.

Please elaborate..

Dear Sir,

Our company is into the process of PF registration as the number of employees has been increased to 20. So now my query is that as Basic Pay of all employees is more than Rs 6500/- Whether we are required to deduct PF on any one's salary...???
And whether employer is required to make any contribution for PF..??

Dear experts, how to convert corpus fund into regular income for the AY2014-15. In previous AY's it has shown as corpus fund.

Dear experts, we have a memorial trust and it is formed for construction of a temple. while commencing the construction a separate amount as shown as corpus fund in b/s and amount spent was shown as advance for construction in asset side. Construction went on for two years and returns were filed. Now the construction has been completed. How to shown this effect in B/s asset and liability side. We want to close the trust now as it met the requirement and no more needed.

If a society is carrying on charitable activities of education institutions and is approved u/c 10(23C) and the following defects are found in the return after the scrutiny u/s 142 started:

1) On some expenses TDS was not deducted
2) Payments were made which were ineligible as deduction due to 40(A)(3) dis allowance.

Since, the entire income is exempt under section 10(23C), will any tax be leviable on these amounts or not?

Please reply. Its very urgent.

please tell me reverse Bid, is it right there is a small buy a big firm.

My question is only for expert that i have problem in solving a question in cost accountancy (ie in marginal costing chapter)
Can any expert can give me his/her name who can solve my problem(so that i can directly ask from expert).Because i have given my question in forum but not getting any response.So i request you to come at this platform to help me.

If Public co. had paid Income tax in MAT of Rs.24 Lakh (FY 12-13), whereas neither made provision for tax in FY 12-13 nor any shown any entry relating to MAT or payment of tax.

Assume that tax as per Income tax is zero because of losses in FY 12-13.

Kindly suggest us what are the entries to be pass in book in FY 13-14 relating to above.

If assessee is an individual and engaged in the business of financing purchase of goods on Hire Purchase, will Service Tax provisions apply on interest received in this?

Please reply.

HI,
OUR COMPANY FOLLOWS THE RATES OF DEPRECIATION AS PER INCOME TAX ACT,FOR PREPARATION OF ITS FINAL ACCOUNTS. MY QUERY IS WHETHER WE CAN USE THE RATES AS PER INCOME TAX ACT IRRESPECTIVE OF WHETHER THEY ARE MORE THAN THE MINIMUM RATES GIVEN IN COMPANIES ACT OR NOT. IS IT SUFFICIENT IF THE TOTAL DEPRECIATION CALCULATED AS PER INCOME TAX RATES IS MORE THAN THE ONE AS PER COMPANIES ACT OR IS IT THAT WE HAVE TO CONSIDER EACH ASSET CLASS INDIVIDUALLY.THANKING ALL YOU READERS IN ADVANCE.