A STPI Unit has paid STPI membership fees of Rs 100000 for 2007-08 but subsequently it receives a notice from STPI in July 08 regarding additional payment of Rs 100000 for 2007-08 as the Turnover of company exceeded some limit and memebership for the year amounted Rs 200000. The Company pays the differential amt of Rs 100000 in July 08.
Now will this payment be an allowable Expense for the year 2008-09 as books for 2007-08 were already closed and payment made in 2008-09 or this amt will be considered as Prior Period Item in regard to 2008-09 and hence be disallowed?

what would be the treatment of prior period income for computation of income?

And Prior Period Items are required to be disclose seperatly. can we combined prior period income and prior period expenses in prior period items head in Fin statement.

Dear Sir,

pls let me knw if there is any responsibility or liability of Internal Auditors towards Statutory Auditors..???
Are internal auditors required by any AAS/ SA to answer statutory auditors on any matter compulsarily.
In AAS-7 it is given when a Statutory auditor can rely on Int aud. But i could find nowhere about the above topic.

Pls reply asap.


regards
Pranay

HI please suggest me that can tyres replaced of bus be trested as revenue expenditure or we can take them as capital exp. ,according to the provisions of AS-10,
THANKS IN ANTICIPATION

will any body tell me that which book for income tax is better which is advanced and contain every point in detail and which will be useful in practise much.

HI my question is ..can the matress, Desert coolar purchased for hostel purpose in a school be treated as part of furniture & Fixtures or Hostal Equipments . What is the Rate of Dep.will be apply on them.
PLZ MAKE IT QUICK ITS URGENT.
REGARDS.
DEEPAK S.TANWAR

Company has made a gift of Rs.10000 in cash to all its directors,senior perssonnel and company secretary.
whether it is part of manegerial remuneration as per section 309 of the Companies Act, 1956!
what is the disclosure requirement and is there any Sanction of Board of directors in a meeeting of board is necessary or not?

Hello

I want to ask you that if rent from a commercial property is the major income of a trust/firm and if Rent exceeds Rs 10 lacs per annum .Shall Service tax would be applicable .Please reply???????

kindly help me the admit card rec by me does not have photo & i am final ca student anyone can help me out

Dear All,

Whenever any pvt. company makes profit and if it is distributing dividend to its director, then is it mandatory to transfer some portion of profit to General Reserve and how much? OR in geeral I would like to know that treatment given to General Reserve in case of PRofit making company?

Thanks in anticipation,

Amit