Dear Sir,

I have sold one LED only of desktop PC in Rs. 2000/-, which was bought in 2011-12 with complete desktop pc as LED, Mouse, Keyboard, everything. And now after depreciation, its value is Rs. 5000/- in ledger account. Pls guide me how to treat of make the entry of this transaction with example.

DR CR
DR CASH 2000
CR COMPUTER & PRINTER 5000
DR PROFIT & LOSS 3000

But sir with above treatment the total computer & printer head or desktop asset would finished from books. Then pls tell me how to treat it.

Hi All,

our company is courier agency service.The incorporation of company on 27-11-2013. compnay is first time taxable in the month of March 2014 pertaining billing of feb 2014.
My question is as follows
1-can i take credit of tax all input service either from beginning to taxable period or only of feb month?

2) can i take credit of tax on mobile bill uses for business.


Note:- ca club is only one platform to discuss with expert about query. pls sir........

Hellozz..
When Should I join my CA Final Classes..??
My Final Attampt will be in May 16..
Currently I am doing Articleship..
And there is work load in office, thus I am thinking to join classes later on..
but simultaneously i am worried abt my Final Exam also..bcoz of not knowing anything abt Final Subject..

Thus Guide me plz..
what shoud I do..??

Waiting..for replies..

Hello Experts
I am doing my CA articleship and I want to ask one thing that wheteher we will apply section 44AD in this case or not, where the business of assessee is to give plant and machinery on rent...or it will be computed under the head income from other sources..??

Thanx in advance..!!

DO INVESTMENTS MADE IN BY PUBLIC LTD COMPANY WITH VARIOUS FINANCIAL INSTITUTIONS WILL BE OUTSIDE THE AMBIT OF SEC 372A IF THESE INSTN. FALLS UNDER THE TRUST STRUCTURE. LIKE UNITS OF MUTUAL FUND OF IIFL

A person is receiving salary and Interest income from partnership firm.
he has paid a car loan interest which he is using personally.
Also He is filing his personal ITR 3.
Can I show This car loan Interest u/s 57 because I do not prepare books of accounts.

Hi,

i was transfer in UK unit of my company from 1st jan 2012 and left India on 28th Nov 2012.

any one can suggest me my residential status for filing of IT return for the Fy. 12-13.

also i have paid tax on UK ,can i avail credit /Refund in UK salary income Tax .

which manner I compute my tax. which exchange rate i use for taking income in my IT return .i receive in salary in UK currency.

Dear Sir,

LIC maturity amount is subject to TDS at on the maturity of policy or not?

Regards,
Rahul Mehra

Hello Sir/Madan,

Can you tell what is Annual Return of LBT. i.e. E-II.

As I am monthly paying my Lbt according to my purchase and sales.

Can you tell what they excatly want in the Annual Return.

Can you send me the sheet for the working of lbt annual return.

From CA Club I have downloaded the annual return and excel sheet of annual return of lbt.

But now i want the lbt return filled and supporting sheet required for lbt return.

Hi, for an individual who is on a contractual employment by a company as a contract consultant (through a contract agency) and is paid monthly based on an hourly billing rate and hours worked during the month and Contract agency is deducting EPF on salary as per law by the hiring company. (i) Is the individual's (Consultant) income treated as business income or a salary? Please response to it.
Thanks