Dear,

I had purchased a new car for Rs. 44,68,080.00 on Jan. 2013 by returning my old car which was purchased at cost of Rs. 35,19,609.00 on March 2010.
Due to some technical problem, I returned the earlier car purchased and buy another.
Now, I had charged depreciation on the returned assets in the books, is there any need also to deduct the amount of accumulated depreciation and cost of assets from the balance sheet.
What is the treatment of loss on sale of Car as the case is of a Public Limited Company.

Is MAT applicable on AOP for A.Y. 2013-2014

can someone recommend me the best reference book for ipcc audit other then surbhi bansal.plz rply

What is Sec 44AE...?


Regards
Afroz

What is with this new ICAI website? How do I get to access the old website?

HI ALL,
we are the manufacturers of electrical components and we have spare funds which we want to lend to the UK based companies. We know that interest rate at UK is less as compair to our country but It is a type of arrangement.
so i want to know that how can we do this?
Is there any kind of way by which we can lend money and guildeline given by RBI?
And if the money with us has been raised by borrowing from the indian financial institutions then does it make any difference to the lending?

PLEASE HELP...

Assessee lives in a rented premises for only 6 months during the FY
HRA received - 12900 for 10 months (due to leave taken without pay during the year)
rent paid - 6000 for 6 months
basic salary - 25000 for 10 months....

HRA exemption: lowest of
1. 40% of (25000*10)
2. 12900*10
3. (6000*6)-(10% of (25000*10))

or

1. 40% of (25000*10)
2. 12900*10
3. (6000*6)-(10% of (25000*6))


In first case exemption comes to Rs. 11000 and in second case it comes to Rs. 21000.

A shareholder of private limited company gave loan to the company in which he is shareholer, and after few months he transfered his shares, what are the consequences under section 58A ?

Hi friends

My Organization taken loan from one financial institution by hypothetical loan on motor car.

The loan for 36 equal annual installments
loan statement indicates both principle and interest clearly.
1st installment also paid immediately.

journal entries for
loan taken
1st installment paid
and every monthly installment paid regularly.

please give me Journal entries .

Mr.A is resident of India.He went abroad in FY 12-13 for employment purpose,and was there for more than 182 days.
So for FY 12-13,what is residential status of Mr.A?