Dear all,

There is a newly established partnership firm on 31-1-2013 for doing retail medical business and its business started from 15-2-2013. In the year 2012-13 it has only Rs.26,000 sales and it has nearly Rs.20000 loss(after depreciation and no remuneration or interest receiving by the partners) as on 31-3-2013 from that business.


As per section 44AD each business income having assessees who are not liable for tax audit u/s 44AB as per the act must and should be offer minimum of 8% taxable income on gross sales for the tax purpose. As well as it giving another exemption those who didn't want to offer such minimum income as per section 44AD has required to maintain regular books of accounts must and should and if their total income exceeds basic exemption limit then required to do tax audit u/s44AB.

So in our case basic exemption limit is zero and the firm has maintaining regular books of accounts and its total income is below exemption limit(i.e it has net loss).

So my query is, is that firm required to do tax audit u/s44AB or just it can file its return of income with loss and carry forward for future years.

Thanking you,

I WANT OBJECT CLAUSE OF RICE MILL CO.IT IS NOT AVAILABLE IN THE LINK PROVIDED BY MR SANJAY GUPTA.

Dear all,

I have filed Form 1, 18 & 32 for incorporating the company today. Please tell me how much does MCA generally take to confirm company incorporation after these Forms have been uploaded.

Please give your expert comments as its a matter of urgency

sir iam waiting my final result of cwa so i can claim any benefits in executive programme of cs or in any paper of cs in dec-13 attempt. plz urgent

wheather service tax applicble on the job workers or not?

OBJECT CLAUSE OF A MINERAL BOTTLE COMPANY.EXAMPLE AQUAFINA

OBJECT CLAUSE OF A RICE MILL COMPANY.PVT LTD.

Can anybody let me know the excise duty rates for the financial year 2013-14.

Thanking you

With regards
Srikanth B V

sir...,

i applied for registration of articleship in the month of march 25th 2013 but till now i haven't received any letter from ICAI. PLEASE tell me the reason...

if our company have 5 employees and we have already given the part salary as advance salary. if i make entries in the salary, advance salary,salary payable ledger & cash ledger then how will i find amount payable to each such employee without opening each entry in tally and looking at the narration.
plz suggest in what manner i'll make the entries in tally and also suggest the name of the ledger which shall be create for these entries.
plz suggest in detail....plz...