Sir,
WHAT IS A LETTER OF CREDIT??

My client has paid rent of Rs 200000/- in advance for 2 years to a person amouting to Rs 100000/-p.a
{Rs 100000/-(08-09) + Rs 100000/-(09-10)}

1.Should he deduct TDS on this rent paid as it does not amount to Rs 120000/- p.a

2.But will he be liable to TDS on payment basis as it definetly crosses Rs 120000/-

Sir,
WHAT IS EXTERNAL COMMERCIAL BORROWINGS???

Which company follows system of deferrment of Advertisment expenditure. Could anyone Sugggest.

Sir,
pls explain me the term-
ASSET SECURITISATION/
DEBT SECURITISATION/
SECURITISATION?

How to maintain a work dairy and is there any prescribed format?

Can anyone please explain me what is an MNC companies in details? Which companies are said to be MNC?

My client has not adopted AS 22 till the year 2007-08. However from the year 2008-09 they are following the same.According to AS 22 - Transitional Provisions deferred tax for the previous year is also to be calculated and it is to be routed through reserve account. Please guide me regarding calculation of Deferred Tax for the year 2008-09 ( including the effect of the year 2007-08)in the following matter.

Figures for 2008-09

Depriciation as per co.s act 22223
Depriciation as per it act 113585

Donation as per books 11001
Donation eligible as per
Income tax 5500

Provision for leave encashment
( 2008-09) 210933
Leave encashment paid during
year 16260

Provision for Doubtful debts 20186
Provision for Bonus 365068

Figures for 2008-09 but related to previous year

Provision for leave encashment
as on 31.03.2008 641012

Bonus paid for the year 2007-08
in the year 2008-09 125849

Provision for Doubtful Debts as
on 31.03.2008 101582

Please guide me regarding defered tax calculation for the year 2008-09 and also for the previous year. Please guide me regarding entry to be passed for the previous years DTA/DTL which is to be routed through reserve a\c.

Thanks
My mail id is rajeshrangani@rediffmail.com

Pls. suggest the procedure/ applicable guidelines for issue of convertible debentures on private placement basis by a listed company

SIR/MADAM

1.AN INDIVIDUAL ASSESSEE HAS RECEIVED RS. 1,60,000 L.I.C. COMMISSION DURING THE F.Y. 2008-09. AFTER DEDUCTING HIS SAVINGS US 80C HIS TOTAL INCOME BELOW THE THRESH HOLD LIMIT IN THIS CASE MY DOUTS IS
1. WHICH ITR FORM IS FILING TO HIS
2. HE IS LIABLE FOR BOOKS PREPARION DURING THE F.Y. 2008-09

2. BOOKS OF ACCOUNTS IS MAINTENANED IS MANADTORY IN INDIVIDUAL CASES HOW MUCH