how shall i write off preliminary expense amount in new Profit & loss A/c? I mean can i write off it or should i deduct it from reserve in balance sheet?

Dear Experts,


Is Gratuity is payment is a part of salary income or not.

We have employees whose income from salary is Rs 2.5 lacs and gratuity is Rs 50 K.

Now should i calculate tax or not. Because he do have 80 C Rs 1 Lacs. If i considered Gratutiy stand alone i may have to calculate Tax on 50 K.

Please confirm

Dear Sir,

We are not a service provider so we are only take ISD credit refund.
I have taken refund in April 2012 & wrongly put details in Mar 2012's ST-3 return

what to do?

IS THERE ANY RULE THAT WE SHOULD JOIN RE-JOIN OUR ARTICLESHIP UNDER NEW PRINCIPAL WITHIN ONE MONTH OF FROM DATE OF TRANSFER OR ELSE OUR ATTEMPT FOR CA FINAL WILL BE DELAYED?

One person assumed that his income going to be less than INR 10 Lac in FY 13-14 so can he surrender service tax no.

Our Company is public limited Company having 6 directors. Out of 6 directors 1 is MD and 2 are WTD. Our AOA provides that MD and WTD are not liable to retire by rotation. So please guide me as per Company Law, How many directors I need to retire this year?

X duly qualified cost auditor,consented to the company for his appointment as cost auditor,and accordingly,govt approval for his appointment was obtained. The cost auditor, later on,did not accept the offer.
Advise the company hoe to proceed in the matter.

This is a question for 6 marks and plz reply at the earliest.

Am a graduate and anyone plz suggest me whether to do ca or cs? which one has more value. I already completed mba specialized finance and operations.

I want to enhance my career quickly in 2-3 yrs...plz help

Dear all,

A Pvt. Ltd. Company was incorporated on 21st September, 2010. The subscribers to the MOA are Non-Resident Companies. However the Company received the share subscription amount on 17th January, 2013 post that date shares were allotted to them on 22nd Jan, 2013. Now as per Section 113 of the Companies Act, 1956 the share certificates are to be issued within 3 months of allotment. So the Company will issue share certificates on 18th April, 2013.

Is this valid as per Companies Act??

Is there any time limit within which the subscribers are required to bring the subscription amount...If yes, which provision states that??

Query on Addition made by AO under scrutiny 143(2), which is offered by assessee to buy peace of Mind
Assessee is engaged in the Business Custom House Agent (CHA) and deriving income as Agency Commission. The Modus Operandi of the assessee is that it makes payment on behalf of client to clear the goods of the client and these payments are reimbursed by the client by issuing the debit Notes. Assessee charges Commission for this service which is its income.
From this modus operandi assessee claims two types of reimbursements from its client i.e. One for which assessee have the supporting and other part of which assessee did not have the supporting. The other parts of reimbursement are purely cash expenditure having only self-made vouchers and no other supporting.
During scrutiny proceedings AO asked to submit the Debit notes issued to client and he found that other part of payments did not have supporting. Further AO asked why this reimbursement payment did not have any the supporting’s?
In reply to this assessee explained the modus operandi as stated above and to buy peace of mind offered some percentage of cash expenditure which is made on behalf of client for addition. Now AO is of the view to impose the penalty on these additions u/s 271(1)(C) of the IT Act.

Kindly reply, is there any way to get the relief from the penalty imposition on the addition which is offered by the assessee to buy peace of mind? Kindly suggest if any judicial pronouncement in support of the same line of business???

From Chandan