Sir now Mr Mukesh ambani is the chairman and MD of Reliance industries ltd (RIL) . Now RIL as a company is liable to pay income tax @ 30 rate. My question is , is Mukesh ambani personally liable to pay income tax out of the profits derived by him from the company ?

Dear Sir/Madam

I have to IT returns for the assessment year 2015-16 & 2016-17 on 30-Nov-2016. Sir my question is which was the due date for IT returns for both financial year 2015-16 & 2016-17 plz let me know? I m avaiting for your reply .............

Thanking you

Hi Good Evening,

A Partnership firm partners purchase land for own house construction. The payment wash made from firm, it is Partners Drawings or what type of accounts head in firm please clarify.
Regards,
A.Sivakumar.

i hv cleard my first grp of ca final in first attempt bt due to direct tax i m nt able to clear my second grp from last 5th attempt should i quit ca? now m so depressed what should i do???

Sir suppose if Mr X has 10 crores of black money . Now he wants to convert all into white . Instead of depositing into others savings bank a/c , if he deposits this 10 crs with some temple's account and later encashed it with the consent of all trustees , will he escape from hands of IT authorities ?

Dear Experts

I have following doubts plz clarify

1) We import machine & capitalise the same in the books
2) we are making payment to supplier from whom machine has been imported
Now doubt is what will be the Accounting Treatment for Difference arising on account of exchange gain or loss due to exchange rate between Machine capitalise date & Payment date

Do we have to give P& L effect or Do we have to Capitalise the gain/loss

Note: Payment is been making by using own fund not borrowing of foreign currency

Pls Awaiting for your reply

Rgds
Karthik

is it compulsory that in the service tax bill swatch bharath cess and krishi kalyan cess should be seperately showed or simply output service tax 15 %.or if yes service tax 15 % in invoice shall we account in tally as swatch bharath cess and krishi kalyan cess seperately.

i have a query- whether provision of tax audit is applicable in case of intraday trading (non delivery based share trading) having loss and turnover doesn't exceed Rs. 1 Crore?

respectedsir
while preparing balance sheet for the purpose of bank lone i have to include one of my vacant sites (offered as collateral security) under fixed assets . and it was purchased 20 years before at the cost of thirty thousand rupees and present market value as certified by charted engineer is 40 laks.i like to know that , whether i have to show the purchase value (as per the purchase document) or market value of my site.
thanking you

If A Company have Cash In hand @ 5,00,000/- and they not deposit it in to bank till 31st December. And continue they show Cash in hand 5,00,000/- till financial year end and in books also. Then what will happen with them.
I think they can not show Cash In Hand, Because they have old currency notes in @ 5,00,000 Denomination.pls revert.