dear sir nd frndz,

a company has imported a machinery , in the due course it has paid excise duty which the company wants to set off against its excise liabilty for the year.so will the amount of excise duty paid will form part of cost of machinery ?

I am curious to know abt taxation aspects of banks.How status of banks are determined for aseessment purpoees?I guess it has to be copanies though not established under compnies act nad co-op societies.how turnover of banks are detrmined for tax audit applicablity and further are there any income tax aspects which are piculiar to banks?

Is mat credit constitute any defferd tax asset or to say weather while calculatin g the DTA or DTL should we take into account the mat credit we entitled to.Many public co reports i see they recognize the mat tax credit as income and shown it in to the asset side of b\s. under the head loans&advances. moreover many c.a firm includes the mat tax credit in the deffered tax asset or liability schedual.
also state any guideline provided by icai
and also mention any case law for the same

hi all i have been giving group 1 papers from may 2008 and everytime i fail to clear my audit paper can please anyone can give me sugeestions about how to prepare for it so that i can clear my paper i have got exemption in accounts in my first attempt and this is my last attempt to claim my exemption so please help me out!!!!!!!!!!!!!

how mat tax credit should be reflected in the acounts. moreover when we caclulate the deffered tax asset or liabililty should we take into consideration the mat credit we are entiteled to.

HELLO SIR,
Myself Ravi Rajkumar Bhutoria,persuing pce course. I have attempted twice in this level. I think that i have good grip in audit, after exam i always think that i will score at least 60 in audit, but both the time it turned out to just 42. sir, i wan to know, how to refer this subject now.....
Looking forward to your reply

Thanking You,

Ravi

Dear sir

Could you please tell under which law we do audit of proprietory concern and make audit report??

Thanks

dear sir ,
i would like you to give me a tip as to how to work harder to clear the Audit paper , as to which are the grey areas where i must concentrate more , that will help me to clear the exam

can anybody tell me the difference between speculator , arbitrageur , hedging.