Is fixed assets account maintained in cash system of accounting ? If yes, then the entity has purchased a fixed asset for 14,00,000 and paid only 8,00,000 for it.. will the asset be capitalized with the full amount ? and shown the rest shown as a liability.. but wont this make it accrual system then ? .. please help.. and please explain in detail ..

sir i have given my ipcc exams(both groups) and i wanted to know if there is any scope for article ship in foreign countries or can i do my article ship in any foreign country..?

Dear sir,

one person has having sole proprietor firm , he purchased car and house in his individual name .But he took bank loan against this, he is remitting the installments through proprietor firm ac . where can i show the interest on loan and principal amount and can i capitalize asset in proprietor concern

kindly give us the solution of my query . it is more helpful to me

Hi,

What is the due date for payment of LBT in PCMC (Pimpri Chinchwad Municipal Corporation) and PMC (Pune Municipal Corporation).

Regards,

CA Sunny Rajesth

sir, i fill examination form but there were few days less in my training. as i was suggested not to sit in exams and it would not affect my actual attempt. is it true sir?

Sir I could not submit my it return for the assessment year 11-12. Although TDS Rs. 10095/- was deducted as per form 16A on the year 10-11.

An individual is having two residential propertys. One self occupied one let out. Now due to illness he has taken other house on rent and rented the house which was self occupied.

What are the implications?
Can he calim 30% deuction in both the houses?
Will he get any deduction of the rent paid?

I would like to state that i have filed Form 1A for availability of Name for incorporation of new Private limited company where in i have made a mistake in selection of stating the name of the state in which the company is to be registered . I want to make the change in the name of state from dadra and nagar haveli to Gujarat.
Kindly provide me the solution for the same.

Dear Experts,

One of my client had filed his income tax returns manually in Bangalore for the A.Y.2008-09 and had a tax refund of Rs.20,000/-. But so far he didn't get any receipt of the tax refund. So at present the issue came to me and he asked me to follow up this case and also presently I've filed his return electronically(In hyderabad)for the A.Y. 2013-14 and presently he is working in Hyderabad since F.Y. 2011-12. My query is whether i can raise any request(online through my client user id) to CPC regarding the refund claim of my client, using the acknowledgement number when the return is filed manually in A.Y. 2008-09. If yes, what is the procedure to be done and if not possible what I've to do then ??? Please help me in this issue and reply as soon as possible.

Thanks in Advance.

Ramana.

Hi All

I know there is applicability of 1 % TDS on the value the property if the consideration is above RS 50 lakhs. whether this 1% is applicable for difference between sale consideration and 500000 value or it is on full value of the consideration . Please advice .