whether below statement is correct? Please explain

"Assets purchased under hire-purchase system were reflected at their Full value and the outstanding installments payable have been included under sundry creditors."

I will be very much thankful to you.

what are the limits specified for a retail business (Confectionary shop) after which it becomes mandatory to maintain books for itr 4 and 4s in termms of turnover and profits

One person has Shares in materialized form. The shares are not appearing in the books of account because purchased 25-30 years ago. Now a person Wants to sell the shares and selling price of shares are handsome money amounting to 15-16 Lakhs. Now what are the consequences in the above case. i.e. How to take money in the books and what to do if we want it to prove as Long term Capital Gain subject to STT, hence sale proceeds being Long Term Capital Gain exempt under sec 10(38).

A proprietorship concern is engaged in providing "Construction services other than residential complex, including commercial/industrial buildings or civil structures"
It is charging gross amount of Rs.47 Lakhs for a contract.In which they Used material of Rs.25lakhs(Rs.20 Lakhs Material +Rs.3 lakhs Excise duty +Rs.2 Lakhs Vat)and it is also taking services of a labour contractor who charged Rs.10,30,900(10,00,000+ Rs.30900 for service tax 12.36% x 25% as reverse charge is applicable and Balance 75% is also paying)now Questions are:
1.Whether TIN number is also required for material used?
2.In which manner we will issue bill ?whether we will charge both Service tax and Vat separatly?
3.is there any option of composition
(Abatment)scheme?
4.what amount of service tax would be payable in both case??Input Credit of Excise,Service Tax,Vat can be availed or not??
5.whether reverse charge will also applicable in this case of work contract as individual is providing services to company??
please help me...very urgent....tried alot to solve but could not...Thanks

i hve to file itr of en govt employee who has work as sub inspector.following r my question?
1.which itr form is needed.
2. what r the information required,
3. is there any problem if i file on line return ie belated return, from different state and insert diff. ward no. from which actually he is working.
4. what r the information we required to see this particular case .
Pls provide me information.

Dear Experts,
I have filed the original return and wrongly entered TCS statement in TDS. Subsequently intimation received u/s 143(1) and rectified the same in correct. But the department till demand the same amount. I have correct Form 16 A and the same is verified with Traces. what are the procedures to taken subsequently Please reply.

Trust is registered under BPT act 1950, in the state of maharashtra.

Trust is running charitable hospital.
Whether the payment of Bonus Act is applicable to trust
In earlier year trust had made Bonus payment to its employees.
It had incurred losses in F Y 2012-13.
Whether the trust is liable to pay the bonus to its employee for F Y 2012-13
If yes then at what Rate or percentage.
Can any body guide us

Excess TDS payment is made, TDS liability is Rs.45925/- but paid Rs.65925/- in second quarter. Can this be adjusted in the third quarter by showing the same challan in both the quarters, as Q2 deductee total will be only Rs.45925/- and challan total will be extra Rs.20000/-

note: no deductee is ready to accept excess tax deduction

Please specify the section no. if possible

reply asap

If a person has two house one is self occupied another is deemed to be let out then a person has taken a housing loan on self occupied house can he take benefit of interest on housing loan.

Kindly define the Minor's age

I am confused about the same

whether the age limit is 14/16/18

Provide me the data regarding minor's age in different Acts
mainly Income Tax Act , Companies Act etc.