Sir/Mam

Suppose there are 2 pvt ltd. companies X and Y Pvt. Ltd.

Mr. A, B, C are the 3 shareholders and directors of both the companies. Now a contract has to be entered into X & Y wherein X has to give contract amount to Y.

Now my confusion is as per section 184, every director is interested so quorum as per section 174 can't me met, so how to deal with the situation. Does it will require a Ordinary/special resolution by members?

Also 1 more thing. the management of of X & Y is same and so is the shareholding, so has consolidated financial accounts has to be made? if yes, then which company will be the holding and which co, will be the subsidiary?

CAN I CHARGE SERVICE TAX ON MY CLIENT THOUGH I NOT REGISTERED.

CAN I APPLY APPLICATION FOR REGISTRATION THOUGH MY TURNOVER NOT EXCEEDED RS. 900000.

IS THERE ANY RESTRICTION ON FIXING FACE VALE

WHAT IS MEANING OF FOLLOWING SENTENCE

" INCOME EARNED IN A PREVIOUS YEAR IS CHARGEABLE TO TAX IN THE ASSESSMENT YEAR "

Ours is a Pvt.Ltd.Company. Our Company is share holder of another Pvt.Ltd. Company. During Last F.Y. our company sold out the shares and also transferred it new share holder.

Now in this transaction loss has been made. my question is , Where should I book this loss ? to P&L Debit or should I deduct it from Co.'s Reserves & Surplus ?

Sir,
Please tell me ..

In financial year 2010-2011 we passed a entry for VAT receivable for Rs. 120,930.00

since output Vat was showing 1,20,930.00 at the end of the year it was transfered to Vat receivable by passing below entry.

I.E VAT receivable a/c .1,20,930.00
To Output Vat a/c 1,20,930.00

Now after assesment, Vat authorities disallowed our 1,20,930.00 due to other reason , now i have passed revered entry in current year exactly opposit as shown above.

now Output a/c shows Dr. balance of 1,20,930.00.
My Query is ,i want to nullyfy output account, then which account should be debited. ( since 120930.00 should be adjusted)

kindly suggest

If the Order for demand of income tax is passed by the income tax officer. however party has gone for appeal against this order.

What shall be accounting treatment of it in the books of account?

CONCEPT OF MARGINAL RELIEF APPLICABLE TO WHOM

Plot was purchased 3 year old value Rs. 1,00,000/-
Construction of Bunglow on that plot Cost Rs. 4,00,000/-
Construction completed before 10 month
and now i am selling it at Rs. 10,00,000/-
How the capital Gain will be calculated and which provisions will be applicable to such transactions?

SUPPOSE IN ENTIRE YEAR I HAVE ONLY ONE TRANSACTION I.E. ADVANCE RECEIVED FROM ONE CUSTOMER SAY RS. 50000.THEN MY QUESTION IS CAN I LIABLE TO PAY TAX ON SUCH AMOUNT