while calculating the ceiling on number of audits under section 224(1B), whether audit of any government company is also to be considered????

In case of freight of service tax is deposited to govt. by who paid to transporter. Is this responsiblity applicable to all even in proprietor (Whose turnover is not more than 3cr.Plz expalin

I have seen so many bility where there is no mentioned of service tax how it can ?plz explain. thanks in advance

hi i have joined ca in aug 1999 in ca inter i have completed my article training in aug 2002.but i have not cleared any of the groups of ca inter or pe iind.june 2009 is my last attempt.what i do i am confused. i am want to rejoin ca for that what i do. i wanted to know:
1. what i do to rejoin ?what i get full credit for already taken article training?
2.what it is neccessary for every ca student to take 100 hour I.T. training ?becoz i have not taken the IT training
3.what it is neccessary to me that i give the exam of cpt and article training.when i rejoin and go with ipcc please friend give me right information and clear my doubt.

Respected all,

I m having one querry.

Suppose there are 3 parties

A FROM MUMBAI
B FROM BHIWANDI
C FROM TAMILNADU

IF A PLACES ORDER ON B FOR THE GOODS.

B SINCE NOT HAVING GOODS IN GODOWN, INSTEAD OF PURCHASING FROM C , B PLACED ORDER WITH C, & REQUESTED THEM TO SEND THE MATERIAL DIRECVTLY TO A.

PLEASE SUGGEST ME,

CAN WE INTERPRETE AS BELOW.

A SHOULD RECEIVE GOODS FROM C.

A SHOULD RECEIVE THE BILLING FROM B.

EVEN THOUGH A & B ARE IN MAHARASHTRA, B SHOULD MENTION IN IT'S BILL SALE "AGAINST C FORM" & CHARGE 2 %.

A SHOULD GIVE "C" FORM TO B.

B SHOULD GIVE "E1" FORM TO A.


AM I CORRECT???

PLS DO THE NEEDFULL.

SAMRAT

ABC Limited is a closely held public limited company. During last year (2008) the company had re-appointed its MD for further period of three years. Suitable remuneration was recommended by Remuneration Committee. The remuneration was also approved by Board and Members. The remuneration to MD is Rs.3.00 lacs per month. Since the company had inadequacy of profits, it took the Schedule XIII route to pay remuneration of Rs.3.00 lacs per month.

The remuneration was approved under Sub Paragraph (B) of Section II of Part II to Schedule XIII (Remuneration payable by companies having no profits or inadequate profits) to the Companies Act, 1956. For effective capital of Rs.25.00 crore or more but less than Rs.50.00 crores, the company can pay maximum remuneration of Rs.3.00 lacs per month under schedule XIII

The remuneration paid to MD during the year is more than 5% of the Net Profits. However I am 100% sure that this is not a violation of the Act. This is due to the fact that the remuneration is being paid under Sub-Paragraph B of Section II of Part II of Schedule XIII, which permits companies with no profits or inadequate profits to pay such remuneration as laid down under Schedule XIII.

The accounts for year ended 31.03.2009 are being drawn for approval of Board / Members. In the Notes on Accounts the remuneration paid to MD during the year will be shown separately.

(1) Kindly advise whether it is mandatory for the company to prepare and include in the Notes on Accounts a statement containing “Computation of Net Profit as per Section 198, 309 and 349”.

(2) If the above said “computation” statement is mandatory, then what type of note should I provide in the Notes on Accounts, clarifying about the mismatch between the 5% net profits and actual remuneration paid.

(3) Whether MD remuneration to be disclosed and attached with Boards Report as per Section 217(2A) . Whether MD will be an employee of the company to be covered under Section 217(2A).

I look forward for kind advise

With regards

Muralidharan

FBT Demolished thrugh Budget: - what about the FBT we have already paid for the F Y 2009-10, whether department will give refund of the same or it will be adjusted against the Income Tax to be paid.

Hello,

I want to know whether capital gain is attracted on succession of partnership firm by a company in which such company is already a partner. Consideration is discharged by issue of shares to retiring partners. retiring partners are already shareholders in such company. Company has issued shares at price lower than interistic value of shares.

Thanks

Does budget 09 provides exemption from capital gain on conversion of a firm into LLP? Whether conversion of firm/limited company into LLP will attract Capital Gain Tax?

There is confusion in the formula for incometax rates, upto 160000 - nil
160000 to 300000 = 10%
300001 to 500000 = 20% + 14000
500000 above 30% + 54000, but in the formula for above 500000 the tax is 30% plus 55000,
which is correct ?, this rate of tax is for female and senior citizens also, please help

husband want to give gift to his wife. my question is in which name the stamp paper must be issued and on the stamp paper both husband and wife signed on it or only husband will sign?