In the banks balance sheets, the advances which were mentioned are Gross Advances or Net Advances? Definition of net advances is Gross advances – gross NPA.

What is the reason to build investment fluctuation reserve? What is the use for the same? How it can affect the profitability of the company? I mean if I have a investment fluctuation reserve can I set off any loss on investment against this and not taking the same to PL account.

Can some one suggest me good reference books... tat ll help as self study material tat dont need attendin classes for ca final... do suggest me best books for ca final new syllabus... am very much in need of ur suggestions and guidance... and my attempt falls in nov 2010... i think startin early will help me...

please provide me details of sale of inharant ag. land.,how i calculate capital gain if applicable?what is tax rate/treatement.

Hi all,
Whether Income From Salary received in Dubai will be taxed in India? and what will be tax treatment of Income from Property and Income from Other Source received and accrued in India in such case? Pls help me on the basis all the three type of Residential Status in both the cases?

sir,
I m appearing for the CPT dec-2009. I want to secure One of the Top 10 ranks. Is the material provided by the Board enough? If not please tell me books to refer.

thank you

Since i am appearing for CA final IInd group in nov. 09 Can anyone suggest me which book should i refer for my CA final exams for Costing, Direct tax, & Indirect tax.

A private comapny has been incorporated on 19th February, 2008 and it proposes to hold its first AGM in July, 2009. Will the final accounts be prepared from 19.02.2008 till 31.03.2009 or from 19.02.2008 till 31.03.2008 and then from 01.04.2008 to 31.03.2009. Kindly guide me in this regard and what about audit of accounts in this case?

Hi,

one of my client has depostied TDS for companies and for non companies in one challan

excuse he is giving that at the time of deposit of TDS he was not having details of parties. thats why this mistake has occur.

he has done this whole year. also he has also filed his e-tds return.

he is doing this for last 2 years

Please tell me any remedy for this & consequenses / penalties etc. (if any )of this overlook by thim.

Pls note : he is also not wishing to revise his return.

Thanks & Regards

Praveen

An Indian company is manufacturing Ferro Alloys in India. It imports some of the raw material from outside India ( from different countries across the world). It is planning to enter into exports of Ferro Alloys in near future. To facilitate its exports and imports from outside India, it is desirous of opening its offices ( branches/subsidiary companies) outside India. The foreign entities so estblished will also be doing the work independently for other clients and would be generating income therefrom. We are to give -

1. Advice on the structuring options for the export of products overseas by the Company from the following perspectives –
Form of organization of the proposed foreign office best suited to the Company ( in terms of tax benefits ( both direct and indirect) and regulatory requirements)
Modus operandi of the transactions to be undertaken by the Company with its foreign offices/subsidiaries in terms of billings and payment
2. Advice from the Regulatory perspective on the mode and manner of making investments to establish offices/subsidiaries/warehouses in -

China,
Netherlands, and
c. Dubai

( There is an additional query with respect to investment in China. In China some tax benefits are allowed tothe companies where a Chinese National is a shareholder and who invests a minimum of 1,00,000 USD in the company. The Indian company is consideraing this option and wants to transfer funds to the Chinese national to make him invest in the Indian company...............how this can be done - can the Indian company lend the money to this Chinese National ? or some other mode is possible?)


3. Income Tax implications in India for the Income earned for the branch/Wholly owned subsidiary outside India in the following countries-
a. China
b. Netherlands
c. South Africa
d. Dubai