Dear All,

In my one manufacturing unit,which is situated out of the city area I have incurred about Rs. 08.00 Lacs for fencing a electircity line from city to the unit.

What I shoud do I treat this a capital Expenditure and capitalise in Electric installation r treated as deferred revenue expenditure and w/oo in 5 installment.

This is new Industry and estalished in April 2008.

A co. who can claim the MODVAT credit on purchase of Capital goods didnot claim the credit in the year of purchase of the machinery..
Can the claim be utilised in the next year..

a come accross a case in which the client has profit of 1600000 rs. but he want to redutce its profit by showin more exps but he has less cash available with him. so can u tell me how the problem of shortage of cash can be solved???

INCOME TAX PRACTIONER, WHO IS ENROLED WITH INCOME TAX AS ITP CAN DO THE AUDIT

HELLO

in 3cd report we got to report the payments made to related party .the related party mean those who have substantial interest in the company/firm. so whats the scope of substantial interest. what is the yard stick to decide whether a person have substantial interest or not

Dear All,

In my company I have imported raw material.
At the closing of the year how I valued raw material.
Seprate for Raw MAterial imported and domestic
or
Average the rate with all raw material and valued?

Which is proper way.......

Hi All,

Please provide me some feedback on treating Work in progress.

A software company subsidiary of foreign company (100% foreign share holding) got incorporated in October and started operations in November. Till year ending March 2009 there has been no billing to parent because the software development (project development) has not been completed. During finalization of accounts can we treat the expneses incurred as Work in progress?

Share capital amount has been utilized for the expenses from october till March.

thanks,
harsha

Maximum how many Tax Audit & Company Audits can be done by a individual Chartered Accountant ?

Hi m a student of PCC going to attemt this Nov09 m a bit confused so please tell wheather i have to by heart all the AAS & SA with their names or not
please suggest how the question on SA going to arrive..........

Hi...

i wants to know about the procedure and check list for the peer review..