sir i want to know the date on which fixed asset (i.e. building) is to be recognised as fixed asset in the book ? whether on the date on which it is ready to use or the date when it is put to use ? plz clarify the same in light of accounting standards and guidance note if any issued ?

My brother had gone abroad in March 2012. His income (from salary & interest) were fully taxable in India for the year ended 31st March 2012 being resident at that time. Now he enjoys the status of being NRI and earning salary abroad which is taxable there. How should he file his return for the AY 2013-14.

He has some deposits in the form of FDR which had been made when he was a resident. There is interest income on the same for AY 2013-14 and also TDS on it but the interest income is less than the prescribed taxable limits i.e. less than Rs 2 Lacs. Should we file showing his residence status as "Non Resident" and show his interest income only which is earned in India and claim the refund of tax deducted thereon. Also he is having a house loan on a house situated in India where parents are residing. Would he be able to claim the deduction of interest paid on housing loan during AY 2013-14. Please suggest.

I am a Chartered Accountant having qualified in May 1986 and an Associate member of ICAI since then. I did my Industrial Training with one of the leading global / foreign banks in India. Post qualification, I decided to join Banking sector and have since thereafter worked for over 27 years with some of the leading foreign / large private sector banks in India at senior management levels. I have recently left banking services w.e.f February 2013 with a view to create my own set up as Financial Advisor including practice as Chartered Accountant. I have also applied for COP w.e.f April 2013 and already proposed to start a proprietary firm for practising as Chartered Accountant. I am also in the process of selection of few semi qualified CAs to assist me in this venture. Few of my banking colleagues (who may not CA but have good experience in Banking) are also willing to join me.

Being part of Corporate Banking world, I have business association with good number of large/mid market corporate clients/promoters in India. Given my varied practical experience in Banking for almost 3 decades, I am very confident to handle Bank audit. I intend to apply for my empanelment for Bank audit during forthcoming process.

I understand the criteria for empanelment includes period for which the audit firm is in existence, number of partners in the firm etc etc. Given my strong background in Banking, can you please suggest me how should I proceed for my empanelment for Bank Audit during current year ??

Your guidance in the matter will be highly appreciated.

Best regards and Thanks.

WHETHER LAST DATE FOR SUBJECT ST3 HAS BEEN EXTENDED OR IT IS 25.04.2013

Sir,

The Nuns and Rev. preists working in Christian Educational Institutions are only signing in the salary muster but they are virtually not recive any salary in their behalf. In that how the TDS will be collected from them? Is there any specific exemption or notification granted to NUNS and FATHERS WORKING AS teachers in Schools.

Please give the circular or notification reference if there is any exemption?

CA.A.Joseph Amul Raj

How can i got copy of MOA and AOA from MCA21.let me know the procedure.

Can a real estate builder and developer claim input tax credit on the Service tax paid on GTA services availed by him (against 1% service tax payable on advances received against sale of flats)

Request you to provide relevant section too.

Many Thanks.

Hi,

I've received intimation from Income tax u/s 143(1). I paid self assessment tax for AY 2011-12 and it is not credited as per 143(1).

When i check the Form 26(AS) the self assessment tax is credited.

I filed the returns manually(approached an agent).

CPC has asked me to get it rectified from the assessing officer(AO).

Now this AO is in Hyderabad and my current location is Bangalore. Can i not get this rectified online? or in Bangalore office?

How to contact AO? Please suggest me what should i do?

Thanks,
Naveen

What is the difference between provision for bad debts and provision for doubtful debts?

Dear Sir/Madam,
My querry is as under:-

One of empployee of our compnay (indian company) is posted in Malaysia. Company is paying USD600 per month as outstation allowance (for his personal expenses e.g. fooding etc) which is in addition of salary.

Whether company has to deduct TDS u/s192 on this payment?. If yes what is the procedure?