Hi,

As revenue expenses are not allowed of Rs. 10000/- per day. I have following query regarding this:
1. Can total payment made to different parties above rs. 10000/- in a day? For ex. diesel purchased of Rs. 6000/- and stationery purchased of Rs. 5000/-. Or
above condition applied on a party only for ex. petrol purchased of Rs. 10000/- and stationery purchased of Rs. 10000/-
2. can cash payment made to any supplier above of rs. 10000/-, and less than Rs. 2lacs in a day?

Our company incorporated on Nov 2012 and we have filed only two annual returns. Initially we focused on android apps development and then dropped it due to market saturation. Then we started working on new technology and successfully designed a working model. Now we got a small industrial order from a chennai based company and also looking for more works from them. In this situation what shall we do.

a) close the company and start a new one (or)
b) file all arrears and continue to get a fresh start

wat will b the effect of amendment of proposed dividend in case of amalgamation

Post merger or purchase, the unrealized profit on stock held by vendor co. as on the date of merger or purchase be derecognized in which of the the following cases
1) Vendor holding stock purchased from purchasing company
2) When two companies amalgamate and form a new company
In 2 nd case it should be derecognized , but in 1 st case whether it should be derecognized or not?

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).