i want to know which teacher is best for IPCC CAFM subject Kapileshwar Bhalla of ETEN or R.K Mehta of GaapBright??
thanks

Dear Sir,
Suppose a civil contractor has received a cheque of Rs 15 lacs on 27 March 2013 and for which contract was executed in April 2013.
Therefore on 31/03/2013 that amount remained as balance in his bank a/c and increased the assets side of balance sheet. Now please advise me how to make equal the liability and assets side of balance sheet.
Do I have to Show WIP in liability side with the figure of 15 lacs?

Please clarify.

Sir,

My client is in visa processing business. It means if someone required visa, he takes fees from the client and pay to the consulting agency as visa fees.

For eg He takes Rs 3,000/- as visa fees then he pay Rs 2,500/- to visa agency.

My query is can I file this return U/s 44AD or it is commission based income?

There is no TDS deduction on income.

Thanks

hi, i am accountant at pvt ltd hospital some fixed assets are in the name of our directors and payment for the same are made through loan in the name of directors. but emi for the concerned loan was borne by hospital. whether depreciation is allowed or not
please suggest.

Sir I am working in a Partnership Firm at Hyderabad which is engaged in the field of Real Estate i.e, developing of layout and selling of plots.

Partnership Firm was registered in August 2012 and Office was opened in October 2012.
The business was commenced in December 2012 by way of a layout.



One of the Partners has introduced capital by way of cash at the beginning of the Firm say 1000000/- in a single transaction.

Now during the course of business one of the partner has introduced further amount of 1000000/- (through his friends )in the firm.
Now My query is how do I account for the above amount? Should it be accounted as further capital introduced by partners i.e., by Crediting to their Capital A/c.

If doing so in that way do the partners have to show the above amount in their individual returns ?

One more question can a partner introduce capital 'n' number of times during a financial year in the course of business or is there any restriction?

Now the second issue is the partners withdraw huge amounts say 300000/- to 500000/- by way of cash from the firm for paying amounts (bribes , liaison expenses,etc) to Govt. Officials for obtaining approvals for layouts from the Govt.

Now how do I account for the above transaction in the books of A/c ?

Can I straight away debit the above huge amounts to their Capital Accounts ?
If yes , does section 40 A (3) applies or not?

I am facing this problem frequently in spite of educating the partners of the difficulties in doing such transaction/s.

Please guide me in this regard.

sir may I know if the interest received on redemption of nsc is exempt or not?

Recently after filing Form 1A, I received tHe following reply:

"Since Trademark Database is not available right now hence you are to submit for affidavit on Rs 100 non judicial stamp that the proposed word in the name i.e. "INNOVICE" is not a registered trade mark and further that the company shall change its name immediately once any objection is raised by the trade holder/holders if any."


I tried searching the trade mark database on the MCA site but its not available.

1) How do i submit such an affidavit when the database is not available on the MCA site itself.

2) The second point is being asked for frequently by the MCA, even after all the verifications with regard to availability of names is done with. Ain't it unnecessary harassment?

KINDLY HELP

THANKS IN ADVANCE

Hello,

I am borrowing an amount of Rs. 1Lac from my friend as loan for my business(its a proprietorship firm).
I want to know:
1.By what it is beneficial for lender and borrower to pay the money(Cheque/Cash).

2.If I borrow in cheque, will I have to pay taxes on it.(I am going to use it as working capital).

Thanks in advance

Plz tell me the procedure to change the group of ca final when the group already applied for is cleared in reverification result and the due date of filling exam form has gone.

I have my final exams due on May 2014 and my articleship would end on 3rd September 2014. Is there any way by which I could apply for a job in July itself if I'm able to crack both the groups? Is there any provision of ICAI related to such a situation?