while doing audit of a firm , i found an expense of the month of march'11 via credit card . bill was received on 5th day of april'11 . but the provision for the same were not been made . the same bill was not paid in the month of april'11 , was paid in the month of may'11 .
pleas solve the query while keeping the law of income tax act .

Client: service provider
monthly payments made by client to a contractor as follows
electricity expenses: 39503 (vary month by month)
water and charges: 2000
maintenance: 16165 ( same in every month)
service tax: 1665 (only on maintenance portion)
payment made to contractor in a month:59333

my question is on which amount tds would be deducted i.e, only on maintenance portion or on total payment of Rs. 59333.

if contractor has charged surcharge for late payment then whether tds would be deducted on that surcharge (late payment charges)

and what is correct treatment of that surcharge i.e, how to adjust this late payment charge.

I am a CA FINAL student and undergoing articleship training now.I have heard that articleship is a very crucial period and you must utilise it efficiently for your development.Those who are not undergoing articleship are not competent.I want to know what are the things we must learn during this period and how articleship can help us in the corporate world?

Sir i would like to know that my client has paid around 8 lakhs Rs. in cash for purchase some land....is it permissible ?? and my client has paid no of Tour advances exceeding Rs. 20000....Indirectly i.e, through Tour advances co. is paying amount exceeding Rs. 20000 to different parties....whether expenditure incurred will be allowable for deduction under incom tax or not ???????

what is the meaning of draft paid without advice

i am a chartered accountant practicing in Delhi. i am finding it difficult to get clients. so what should i do?

Sir,
In a Company in F.Y. 2010-11 Total Closing Stock is less than 50 Crore and in F.Y. 2011-12 Closing Stock is 100 Crore, I want to know that in F.Y. 2011-12 We have done valuation of closing stock at market Price or application of Accounting standard-2.
Please Reply my query.
Thanks

I wanted to know that if a company's balance sheet is being finalized for the first time i.e.,PY 2011-12 then is it mandatory to file form 23B even though the first A.G.M. is still to be held????

Hi Friends,

What is the Dep.rate on Leasehold Improvement & Leasehold Land.

and also,

Is computer Software treated as Intangible Assets or in the head of Computer.

if it is treated as intangible assets then what is the Dep Rate as per companies Act on SLM & WDV Method

Thanks in Advance

I am a ipcc student . Can anyone suggest me how to prepare for accounts and auditing as well as fm Thank you