Dear friends,
Whether we have to make provision & deduct TDS for the following exp for the F Y 2008-09 as on 31.03.2009 :-
1. Tax Audit fee (It will be signed on 31.08.2009, & bill will be issued dated 31.08.2009)
2. Statutory Audit Fee (will be completed on 31.07.2009)
3. Internal Audit Fee (will be completed on 30.06.2009

dear all

for deduction of tax on payment of salary by the employer, should donation u/s. 80g to be allowed as deduction???

in tn manoharans book it is given that employer should deduct tax after allowing dedn u/c vi-a.
however my classes sir(teaches from v.k. singhania) has said that all other deeduction except 80g will be allowed for tds.

i am confused. i am studying from tn manoharan.

If One Co. Sales his manufactured product "X" giving offer "Y" free on it showing in invoice (which is not manufactured by Co.
Is their any liability to charge Tax on "Y"
If No Is Co. Take Vat Input on purchase of Y Items?

as I am working in in a pharma industry and and we are at stage of capitalisation . what is the procedure ,methods and steps to capitalise the machineries and we have started production in august 2008 . please help me out .

Dear Sir

I would like to know whether oustanding salary as on Balance sheet date will be reported in 3CD under section 43B? According to me only Leave salary will be reported.

Kindly clarify.

there is an agreement between A-TAXPAYER and B-LIC POLICY HOLDER vide which because
mr.B is in need of money, instead of surrendiring his policy to LIC he enter into agreement with MR.A who pays him the agreed amount towards MR.B LIC POLICY. The policy is in force and now onwards MR.A will pay the premium and all benefits received in MR.B LIC POLICY will be available/payble to MR.A.
There is written agreement to the above.

now the question is whether MR.A can claim
the deduction under section 80-c of I.T.
as techinically he is paying the LIC PREMIUM

ASGARI

Hi friends,

I am faced with a situation where I have to suggest one of my clients the implication of the situation :

My client is a NRI. He had booked a flat in the year 2005 at kolkata by paying partly out of his savings as well as a loan from a Bank in the US. The purchase price was 50 lakhs.The bank gave the cheque directly to the promoter of the building and my client paid his portion (25 Lakhs) from his NRE A/c.

However, not satisfied with the progress and the qualityof the work, my client decided not to go ahead with the purchase. The promoter gave him the option to sell it to someone elseand has also brokered to get it sold to someone else for 90 Lakhs.

My client has agreed to the proposal. However the question is :

Is the difference of the sale price and the indexed cost of Acquisition a "Transfer" of Capital Asset.It may be noted that my client had not got the flat registered in his name till now. So is he the legal owner at all ? If so is it taxable as Capital Gains? If not, is it taxable under any other heads of income?

Secondly, my client wants to repay the loan taken from the bank in the US. the question is , can he repatriate the profit and repay the loan. Can the amount received from the Promoter be deposited in his NRE A/c. Is there ant legal prohibition under FEMA or any other Act against such transfer.

I hope friend out here would help me find a solution to this problem

Regards and thanx in advance

Sonal

Hi friends,

I am faced with a situation where I have to suggest one of my clients the implication of the situation :

My client is a NRI. He had booked a flat in the year 2005 at kolkata by paying partly out of his savings as well as a loan from a Bank in the US. The purchase price was 50 lakhs.The bank gave the cheque directly to the promoter of the building and my client paid his portion (25 Lakhs) from his NRE A/c.

However, not satisfied with the progress and the qualityof the work, my client decided not to go ahead with the purchase. The promoter gave him the option to sell it to someone elseand has also brokered to get it sold to someone else for 90 Lakhs.

My client has agreed to the proposal. However the question is :

Is the difference of the sale price and the indexed cost of Acquisition a "Transfer" of Capital Asset.It may be noted that my client had not got the flat registered in his name till now. So is he the legal owner at all ? If so is it taxable as Capital Gains? If not, is it taxable under any other heads of income?

Secondly, my client wants to repay the loan taken from the bank in the US. the question is , can he repatriate the profit and repay the loan. Can the amount received from the Promoter be deposited in his NRE A/c. Is there ant legal prohibition under FEMA or any other Act against such transfer.

I hope friend out here would help me find a solution to this problem

Regards and thanx in advance

Sonal

Is there any internship after the final exams,under the ICWA new syllabus?

hiiiii

my name is Jermy Gunaseelan & i've cleared my PE-2 examination with 53% & nw m finding a good firm in mumbai & Thane for articleship.

so kindly sent me list of all good firms in mumbai & Thane with tel. no. address & e-mail id.