Kindly may any body give me explanation about
accounting procedure about inventory with Excise, Vat

Hi Freieds,

Whether TDS to be deducted on Tax inclusive Amt.(Like Ser.Tax, Vat etc) or same to be deducted on exclusive such Taxes. For Exaple I require to deduct the TDS on Professional Fess of Invoive Rs.56180/- which includes Rs. 6180/- as Service Tax.So should I deduct TDS on Rs. 56180/- Rs.50000/-(Rs.56180-6180 Ser.Tax)

Thanks

As per sec 32,Depriciation will be claimed who is the owner of the asset and the asset should be use for business. Again if asset is acquired under hirepurchase agrement then the deduction would be avalaible to the lesse.Then it is not clashing with explanation to 4a of sec 43?

Sir,
Please solve this query...

One Accountant is deducting TDS of job work on outstanding bill of Rs.500000/- @ 2.060% and deposited the tax accordingly within due date.

Now at the time of payment there is some discounts and claims appeared in picture and Rs.325000/- has been paid by the accountant & deducted TDS accordingly.

What has to be done?

I also want to know that which procedure is legally acceptable by the taxmens as per illustration below.

Bill no. 15 dated 01/04/2008 of Rs. 200000/-

Bill no. 18 dated 03/05/2008 of Rs. 175000/-

Bill no. 35 dated 07/06/2008 of Rs. 265000/-

Total Amt. Rs. 640000/-
The final amount is paid on 08/09/2009 of Rs.589000/- after deducting Rate difference etc.

If I pay tds on above amount @ 2.060 % and deposit it on 07/10/2009, shall it be acceptable

If we pay tds only when we pay finally to the party or we have to pay on outstanding. What is procedure as per law.

Shall we make amendment in the account policies & mention it in our annual return that “We are paying TDS on payment or we are changing from so and so date”

Awaiting your earliest reply.

Thanking you

lic premium paid for grand child exempted or not?

Respected Sir/madam,
I passed PE-II examination in nov. 2007 and joined as articale assistant(under new course) in a firm at 28th feb. 2008(period was from 28th feb.2008 to 27th feb 2011)but i terminated from here as on 18th Nov 2008( total leave during this period are 175 days) now again i am joined in another firm from 7th Jan.2009( period from 7th jan 2009 to 20th April 2011), When i was taken registration in final, it was the rule that student may appeared in final exam. if articleship is not remained more than one year. please suggest me that may i appeared in the examination which will be held in june 2010.

Are there any specific forms that are required to be filled for approval of RBI before making payments for acquisition of ships?

Hello ,
I had cleared pe-ii in year 2004 nov , and completed my articles in may 2008, and now i am appearing for final , even such also can i apply for " Accounting Technician Certificate" . Is there any such if i get such certificate can i appear for ca final or not?

Dear Sir, I have below query related to Provident Fund. If Private limted company appoint experinace HR person to take care of provident fund compliances.On behalf of company he statrted his job & keep on taking all the compliances including P.F registraion of the company & started filing return on regula basis.He was meeting all the statutory compliances correctly without any delay & default.He is signing all the paper as a authorized signatory of the company. Suddenly he come to know that Board resolution is required to sign the all P.F.related paper. Is this offence under the P.F.Act if yes kindly give your opinion on this.I hope that i will get appropriate answer to my query.
Thanks & Regards
Raj Mehra

IN Leave encashment income tax allow us to encash the unavailed leaves @ 30 per completed year of service.If 25 leave are allowed in the company & employee worked for 2yrs.5 months & availed no leaves.He encash all leaves i.e.725(29*25) as per company policy .
Now my Ques. is that whether he will be allowed 625