How should prepare a Balance Sheet and Profit & Loss A/c to obtain CC Limit Rs.5 Lakh from a Bank and What should be the income in ITR ?

what is "profit & loss appropriation account"? describe briefly.

dear sir,

As a partnership firm, are we liable to deduct TDS on (1) int. pd to partners on his capital & (2) salary paid to partners ? AND in the hands of partner, is these two income liable to income tax ? OR both are exempt income as per I.Tax ?

thanks in advance
anckoora

Respected Members,
Can wife claim rent paid to her husband as expense in her Profit & loss A/c, as the house is fully owned by her husband and he is showing this income in her Total incme.
Please suggest me.


Thanks in Advance.

sir

i am planning to provide this services pls suggest me will they suffer service tax

1. sms price alerts and sensex alerts or quotes

2.website designing
3.web listing like yellow pages
4.ads in sms sent to customer

pls help in this regards........

Can a private company accepts loan from its employee?? if yes/no plz mention logic behind this and applicable provisions??



Thanks & Regards
Vandana Kacholia

Dear friend,

can you tell me luxry tax of which amount
would be charged total room rent or after deducted discount amount.

If room rent Rs.1000/- then in this amount luxry tax would be charged
OR
If room rent Rs.1000/- and discount amount is Rs.100/-
Room Rent:1000.00
Less discount: 100.00
..........
900.00
Luxry tax would be charged.

We are engaged in Excavation work.

We are processed on steel material and manufacture some tools for our excavator.

Is the processing work becomes manufacture for excise duty?

Hello,

I want to know that for claiming deductin u/s 54EC what is the minimum amount required to be invested in RECBonds?

I am full time salaried employee.
I have traded in Futures & Options only for 5 months (September to January 2008) and have incurred a loss of 62K in F&O and loss of 12K in Short term investment in Equities for full year.

I have clubbed both the losses 74K as Capital gain loss and filed in ITR2 form under Capital gains.

Since i am a full time salaried person, all my trading has been carried out by my broker on behalf of me, can i consider my F&O trading as Investment and declare the losses under Short term Capital loss.

IF i should have filed ITR4, now what is the way to set right these mistake...