DEAR SIR


PLEASE GIVE A LINK OF WEBSITE WERE WE CAN FIND EXPLANATION FOR THE FOLLOWING

1.OPEN MARKET OPERATIONS

2.LIQUIDITY ADJUSTMENT FACILITY

3.CBLO

as per IT,wt happen if cash balance goes to -VE in the books.

Wt will be the impact??? on assessee???

Pls reply nd explain the same.

sir pls provide me sa, guidance notes for audit n accounts in brief for may 11 exam. its urgent.......

I ANY PERSON LOST HIS INTIMATION HOW TO KNOW ABOUT THAT INTIMATION THAT WHETHER TAX IS PAYABLE OR NOT . WHERE CAN WE DOWNLOAD THAT?

Dear Sir

Can you tell me what is funded and non funded exposure with respect to banking companies?

Whether interest paid on late payment of Income Tax, VAT, Service tax etc amounts to fine/penalty. Whether it has to be reported in Tax audit report and if yes under which point.

Whether the above interest is allowable as business expenditure.

Can anyone explain me Deifference between the Divisible Profit & Distributable Profit.

QUESTION 1

A newly set up Private Company has incurred the following expenditure during construction period..Please classify as Capital or Revenue:

Sundry Expenses such as stationery , Printing, postage, telephone & local conveyance.

ANSWER IN PADUKA PUBLICATIONS

They constitute an expenditure indirectly which is indirectly related to construction & HENCE capitalized..

IS THIS CORRECT??

QUESTION 2

A minor fire occurred to a machinery cost of repairing is 5000/- estimated.
But company instead used new technology to replace burnt part with new part which will increase efficiency..total cost 50000/-

ANSWER IN PADUKA PUBLICATIONS

Entire 50000 should be capitalized.

I feel only 45000(50000-5000) should be capitalized.

Please assist.

Thank you


K R Srinath

One of our client has develop
their web-site

web site exp amt rs 20000
how to treat it ?

Capital of Revenue Exp

a person who is in a part time job & part time practice,can be appointed as a co. auditor?

a person has a valid certttiicate oo prctice, but he is engaged in a full time job then can he be appointed as co auditor?