Dear All

My query is two-fold -

1. Firstly, is it possible that the directors of the Company can sign the financial statements on 2 different dates. If so, under which section is this option given.

2. Secondly, is there any sort of declaration required to be filed incase of such difference in signature dates.

I purchase 570 Pc of Poly Bag from supplier @ Rs. 5.44 per piece so it goes as below.
570 Pcs x Rs 5.44 = 3101

Supplier has charged
ED @ 10% on 3101 = Rs. 310
Cess on Ed @ 25 = Rs. 6
Sec. Edu Cess on Exise Duty @ 1% = Rs. 3
VAT @ 5% = 171

Total Bill Amount is Rs. 3591

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MY QUESTION IS, Can a supplier charge both excise duty and vat at the same time?

What Idea I have is, Excise duty is charged by manufacturer only and If manufacturer does so, he should not charge VAT?

If yes, in what conditions. Please elobrate it.

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In case of provider of service,What is the "reasonable date "of release bill

Dear Sir,
I purchases goods for resale worth Rs.60000 on credit on 15.02.13

I pay
Rs.18000 in cash on 20.02.13
Rs.20000 in A/c pay cheque on 22.02.13
And Rs.22000 in a/c pay cheque on 23.02.13

Which Amount Disallow U/s 40A(3) of IT act ?

Can a sole practitioner Chartered Accountant sign Balance sheet of a Private Limited company who is having a turnover of less than Rs 1 crore and also what are the areas where sole practitioner cannot sign or certify?

Dear Sir

In gratuity whether employee eligible to get gratuity he has to work for 5 years and above or 4.8 years ?

In one of client company employee has worked only 4.8 years only whether he is eligible for Gratuity?

Kindly clarify me in this regards.

Dear sir,
I am in CA Finals, and my attempt is due on novemver 14.. i have complete d 1 yeear odf articleship on 1st march 13.. and i want to go for industrial traing in my last year.. please tell me how earliest can v apply for it and what is the procedure for this.
URGENT!

If a employee who has resigned w.e.f 28feb 2013 from company, got cop w.e.f.10.03.2013 can sign the balance sheet of same company as statutory auditor for fy 2012-13.

sir, i am in audit of a manufacturing concern.as i came across purchases. i have seen transporter copy bill and extra copy bill instead of original bill.they told original bill was not available.i would like to know that is there any mandatory rule that purchses booked should have only original bill.can they book it through extra copy or transporter copy?suppose in a scrutiny do they accept tansporters copy bill or extra copy bill or will they mandatorily ask original bill only?please let me know?

The company has a policy that assets will be purchased for employees and the cost will be recovered from the employees in the next four years. When the employee will leave the organisation, the asset will be transferred to the employee.

Can the same be treated as a fixed asset and depreciation can be claimed???