I am a banker.A cash credit limit is sanctioned to our client against book debts o/s upto 90 days. But in his latest b/s bookdebt are shown as Nil. His accountant is clarifying that they have adopted new practice of accounting in which they have removed the bookdebt from the asset side and as a double entry book keeping they have deducted the debtor amount from the sales figure. He further is stating that there are sufficient debtors' o/s as on the date of the B/s but since they do not want to add them in sales to save income tax. If they show the debtors in asset side they have to add them in sales also. please clarify is there any prevalent accounting practice.

Assessee is a Private Limited company & take service tax registration on C& F Agent.
I need following clarification:
1.we are collecting reimbursement expenses like Customs Duty, Transport charges, Cargo Handling charges etc from our customer through our invoice in the head of Non Taxable head. I want to know whether the service tax applicable for above reimbursement expense?(Even the above expenses bills also in the name of our customer only)
2.In ST3 return we disclosed only our taxable service as a gross receipt. Is this correct disclosure?
3.While filling the income tax we have shown entire turnover (Taxable & Non Taxable) as our turnover because entire amount passing through our bank account only . So we are in position to show for matching the bank turnover. In this situation is there any issue will arise in service tax department while department coming for to audit? Kindly provide remedy on above issue.

25th April 2014

Dear Members

I give below Section 144 of the New Companies Act, 2013 which stipulates that the Statutory Auditors cannot provide certain services (see below "a" to "i")

In this connection my query is whether the statutor auditor can provide tax audit services to the company. Whether providing tax audit servics will attract Sec 144(i) of the New Act.

144. An auditor appointed under this Act shall provide to the company only such
other services as are approved by the Board of Directors or the audit committee, as the case
may be, but which shall not include any of the following services (whether such services are
rendered directly or indirectly to the company or its holding company or subsidiary company,
namely:—
(a) accounting and book keeping services;
(b) internal audit;
(c) design and implementation of any financial information system;
(d) actuarial services;
(e) investment advisory services;
(f) investment banking services;
(g) rendering of outsourced financial services;
(h) management services; and
(i) any other kind of services as may be prescribed

Kindly clarify

with regards

Murali

hi i want to know whether Huf can take gifts from relatives & gift will be exempt from tax or not

Dear Expert,

Plz advise us on follow matter:
We are service provider of Hotel room renting & Restaurant Service and we have claim abatement on Room Rent & Restaurant.
Can we claim cenvate credit of service tax on input services.
Example : Room Rent : 100000.00
Abatment : 40000.00
Taxable : 60000.00
ST. 12.36%: 7416.00
-Cenvate Credit on Input service : 5000.00
Net Payble : 2416.00

Plz advise on this matter

Please help.......Is it necessary to file TDS return if the assessee has not deducted any tax at source during the year/quarter and he has been aLloted TAN?...In short; Is it compulsory to file nil TDS return?

how to write and how to study about audit subject please give me tips

SIR
I AM AN EMPLOYEE OF LIC OF INDIA , HOW TO USE SEC 80TTA , I HAVE EARNED 5700 INTEREST IN MY BANK ACCOUNT.IS IT ELIGIBLE FOR TAX DEDUCTION IN SAHAZ 1 ITR

Dear Sir/ Madam,
I took termination on 15/03/2014, My period of 1 year of articles will be completed on 24/03/2014. I had sent Form 109 along with ID card of previous employer on 25/04/2014. What will be the provisions apply to me regarding delay of submitting of form no. 109.

I am giving IPCC group 1 for the 3rd time. I have not started studying group 2. And I haven't finished studying group 1. So should I go for group 2 also or just stick to giving only group 1?