A company has 100% exemption u/s 80IC of IT Act and its been, hence, paying MAT u/s 115JB. It calculates depreciation as per rates prescribed by Schedule XIV of Companies Act. Shall it create Deferred Tax Asset/Liab on the excess/reduced tax liability due different rates of Depn as per IT Act? If yes, what should be the rate, MAT rate or 30.9%?

Whether interest paid on late payment of tds can be allow as indirect expenses

Dear All

If Computer desktop is purchased on 15 june 2013-purchase/ invoice date and its value before vat is 32126.00 VAT @5.5 % is 1766.93 Total Value is 33892.93 and rate of dept under slm is 16.21 %.what is Dept amount and number for days to be taken whether 289 or 290 days? Should I take the date of purchase as per invoice date or date of delivery ? Kindly help

As a concurrent auditor of the branch,how do i check the clearing process?

i am developing an internal control system for a school. i am also developing n formulating strategies n procedures for accounting for the school. i would like to seek advice n help as to the integral parts i should take care of and how i could develop an efficient internal control system...

I m currently working in ca firm as an article.
bt this firm is only an audit specialised firm.
I want to do a job after my ca completion.
can I get a good job by only doing audit or shall switch to other firm.??

respected sir,
some banks are asking ca certified audited reports even for 5 laks over draft for business men.i want to know is actully from which amount of over draft banks required ca certified balance sheet?(as per RBI REGULATIONS).please some one may clarify

whether servicetax paid is debited in the profit & loss a/c is disallowed ? if yes under which section?

whether Tds paid debited is disallowed ?
(Actually this firm is not collecting any tds from payment. so tds collected not in their a/c. They just paying Tds to avoid disallowance of expenditure.)


waiting for reply

thanks.

Dear Sir,

Can a Private Limited Company provide temporary loan to it's sister concern companies..? Is there any violation in provisions of either Companies Act or Income Tax Act in doing so?

Thanks and best regards...
Sajana

Can any one provided me the checklist for delhi vat audit...thanks in advance