Suppose private ltd co. has taken insurance policy of 10 years against damage caused to plant and machinery by fire and paying premium annually.....so what is the tratment of policy in financial statements on the date of policy taken and subsequent premiums paid.

Is it to be capitalised and if yes then how?

plz answer as per revised schedule VI

what is the difference between statutory audit and tax audit what type of audit comes in statutory audit

Dear Experts,

I have a small query : whether min. capital(100000/-) as required in case of Pvt Ltd. Co's is required to be entered in AOA or Rs 500000/-(as i mentioned in Form 1A)????

Thanks in advance!!!

i am consultant, giving advice to UAE based company, every month I provide invoice to UAE BASED COMPANY SHALL I ATTRACT SERVICE TAX , I RECEIVED FOREIGN CURRENCY AGANIST MY SERVICE , I AM GIVING SERVICE THROUGH ELECTRONIC MEDIA. (IE. BY MAIL, TELECONFERENCE ETC)

There are two partners. The partnership deed contains one clause which says that if any of the partners die the partnership will not be dissolved and the remaining partner will continue the business.

Q 1) Is this clause holding good ?

Q 2) If one partner dies , will the other partner (only one) continue partnership ?

Q 3) If one partner dies , is a dissolution deed required ?

Q 4) If the clause is valid, will not the partnership be deemed to be a proprietorship concern ?

Q 5) A new partner is admitted within 5 days of the death of a new partner and a new partnership deed has been created,is still a dissolution deed required ?


Please help !!

Cigratee expenses is allowable in Income TaX And Books of Accounts or not??

I passed 1st group of PCC in Nov 2012 exam. As from May 2013 onwards there will be no PCC exam. I filled conversion to IPC form and posted it on 9th feb 2012. I want to give remainaing papers Unitwise in May 2013 exam. As on date i dont received any registration of IPC letter and new registration number from institute and as the last date of filing exam form is 28th feb. I want to know whether i can fill exam form with my existing registration number.please guide what should i do?

Thank You in Anticipation

Dear Sir/Madam,

Our Company has purchased some 300 packed lunch @ 900 + 12.5% vat on it cost rs.303750/-

So my question is this, is tds applicable on this or not.

& is this service comes under catering or not

Please advise

Regards.......... Shekhar Arya

Please confirm whether service tax is applicable on bank charging interest on early payment of bill discounting by customer
Eg:Customer bank is giving us early payment & customer will settle the same to banker on maturity of payment interest on that whether service tax is applicable?

dear sir
I have a query regarding gta service tax

suppose A (clearing agent ) receive some services from gta agency of rs. 1000/-
and A raise bill to B (also small agent ) of rs. 1500/-
and B raise the bill to his party of rs. 3000/-

gta will not going to charge service tax ? yes or no please suggest

so in this case how to calculate service tax after taking abatement of 75%

how to calculate service tax from each party's point of view

is everyone going to calculate service tax sepretally on his amount after taking abatement

is cenvat available in this case please advise

thanks