I have purchased 2 type of goods. Goods X pur from local & freight exp paid to a transporter and Goods Y pur from party nd party had already paid freight exp to transporter and issue an invoice (inclusive of freight exp).

What should be the treatment of Goods X pur and Goods Y pur.

plz ensure the journals entries.

HI,
i, Sudheer Kumar, want to know whether interest on TDS has to be paid or not,

1. 'x' ltd is a company entered with an agreement for rent of a office premises @Rs. 150000 per month from april'13 to sep'13 and Rs.500000 per month from October onwards.
2. 'x' ltd has paid the following amounts without invoices

a. 07/12/2013 - Rs.486958.00
b. 09/01/2014 - Rs.344642.00
c. 23/01/2014 - Rs.1350000.00
d. 24/01/2014 - Rs.158220.00
Total Amount Paid - Rs.2339820.00

TDS Amount Paid - Rs.259980.00 at 194I on 05/02/2014, for the above amount

pls give me suggestion

Sir,

We received a mail from MCA because of we are showing money received from related parties as “Share application money pending allotment” instead of Unsecured Loan. Now MCA asked to deposit such money to IEPF Fund under The Investor Education Protection Fund Rules, 2012. But that amount is belongs to the Directors of the company. And we don’t want to loose that money.
So kindly Suggest the remedies available under this situation

Regards
Vinay

I HAVE A SHOP WHOSE LOSS IS COMES INTO EXISTENCE FIRST TIME AFTER TEN YEARS. WHEN I WILL FILE HIS ITR-4 IF ITO HAS RAISE A QUESTION THAT HOW THE LOSS I SUFFERED BUT IN PAST YOU HAD TEN YEARS PROFIT THEN IN THIS SITUATION WHAT SHOULD I SAY?
PLEASE GIVE ME YOUR ADVICE WITH SECTION AND RELATED CASE STUDY AND WITH LINK.

If a Partnership firm is Audited because of turnover is in excess of 1 crore in FY 11-12 and in FY 12-13 it goes for section 44AD, then whether it has to deduct TDS on payment made to contractors and professionals etc...

and when the firm is filing return u/s 44AD then it does not have to maintain books of accounts under income tax act.

please reply asap

I file return of A.y.2013-14 by paying s.a.tax & tds credit but now I seen in 26as no tds is available I.e party has not paid tds .so what I should do

Head office is in Mumbai & branch is in Hyderabad.Prfit earned by Hyderabad branch in a particular accounting year is to be transferred to head office in the books. Than what accounting entry to be passed.
The situation is head office sells the goods to hyderabad branch at cost.And than hyderabad branch sells the goods After their profit margin .....so all the net profit the client want to appear in single account i.e in head office accounts .....
So can anyone suggest me the accounting entry to passed.

sir , I purchase share of rs10 after sale rs.100 . I receive rs 90 as profit in each share . kindly give me sugesstion rs 90 is calculated under capital gain tax or as per cacluate income in normal slab rate

Mr.X sold the property to Mr. Y for Rs. 47 Lakhs on 28.06.2012 and Mr. was not interested to register the sale deed and instead Mr. X offered Mr. Y to relinquish and release all their rights, titles, share, claim, interest and ownership for a total consideration amount of Rs. 61 lakhs on 25/11/2013.

Kindly provide me whether capital gain is applicable and Whether Short Term or Long Term?

Assessee is a GTA and filled Nil ST3 Return for the first quarter of F.Y 2012-13. The return was filled on 07/04/2013 (due date 25/11/2012)by a delay of 133 days. The service tax liability being nil, the return was not mandatory as per circular 97/2007. However a late fine demand of Rs. 11,300/- was send by department on 13/02/2014 for the above mentioned period without issue of show cause. Is the demand notice valid as it was issued without issue of show cause? What shall be the next step?