What treatment of profit or loss on effect of change in foreign exchange rate (AS 11) i.e. whether income tax Act allowed loss or gain on foreign exchange rate which is debited/credited in profit & loss account. If allowed under which sec. if not allowed what will treatment pls. help me in this regard immedetaly....

Hi... Friends...Does any body here will help me out???

I m Studing C.A Final I Just want to know is there any Certified course relating to Merger & acquisition or International Business which i can do along with C.A Final...

If u have Any Details plz Giv me the course details Along with its link....

The local authroties are denying Input Credit to registered dealer(Trader) on purchases made from local manufacuring units(Registered Dealers)and sold in the course of Inter State Trade or Commerce against Form "C" by referring to section 21(4)(c)read with first proviso of Jammu & Kashmir VAT, 2005. For the sake of clarity the relevant section and proviso are reproduced hereunder:
21.Input tax credit.- (1). Subject to the provisions of the Act, for the
purpose of calculating the net tax payable by a registered dealer for any tax
period after being registered, an input tax credit as determined under this section
shall be allowed to such registered dealer for the tax paid or payable in respect
of all taxable sales other than the sales as may be prescribed, or purchases under
section 14 during that period.
(2) The input tax credit to which the registered dealer is entitled to shall
be the amount of tax paid by the registered dealer to the seller, on his turnover of
purchases made during the tax period, intended to be used for the purposes and
subject to the conditions as specified in sub- section (3), sub- section (4) and
sub-section (5) and calculated in such manner as may be prescribed.
(3) Subject to such conditions and restrictions as may be prescribed,
partial input tax credit may be allowed in such cases as may be notified by the
Government.
(4) Input Tax credit shall be allowed for purchase of goods made within
the State from a registered dealer holding a valid certificate of registration and
which are intended for the purpose of -
18
(a) sale or resale by him in the State ;
(b) use as raw material or as capital goods in the manufacturing
and processing of goods other than those exempt from tax under
the Act intended for sale in the State ;
(c) sale in the course of inter-state trade and commerce;
( d) sale in the course of export out of the territory of India; or
(e) for use as containers for packing of goods other than those
exempt from tax under the Act for sale or resale in the State:
Provided that in respect of transactions falling under clause (c) input tax
credit may be allowed on the tax paid in excess of 4% on the raw materials
used directly in the manufacture of the finished products:

Kindly advice

sir
i would like to the diffence in SEC 314(1) AND SEC 314(1B)OF DIRECTORS

If there is a

Long Term Capital Loss on Sale of Eq Shares thro reco. Stock Ex (STT paid)
Rs. 10 lacs &

Long Term Capital Gain on sale of Eq. Shares (STT not paid) Rs. 7 lacs

If other incomes being NIL

what will be the tax incidence precisely?

Can anyone help me to find the best course that i can do as i have completed CS and also start my CS Mgt. training but lots of people said that only CS Degree will not work u should have some other degree too.
is it right send me yours exprert opinion so that i m able to take right decision.

hi sir iwant to take termination from my boss because he is asking me to go on audit from 2'oclock in the afternoon to nearly 12 in the night which is causing a lot of difficulties in my studies moreover my parents also not agreeing to allow me to work till late night. so i asked him for termination he said he will give me termination but he will write comment on my form 109 as not fit for internal audit ?which is what worrying me ?what will happen to my carrer if he writes that comment sir ?will another c.a will take me as article assistant ?and iam i justified ?what r my writes as a article assistant?i have served him for 5 months as article assistant sir.pls help me out. thanks in advance.

we havve filed IT Return of our company for the FY 2007-08 on 30.09.2008 claming TDS of approx 1.12 crores.
Now we have received a TDS certificate of Rs. 50 Lacs for the F Y 2007-08.
how can we claim this certificate:-
1. We have to revise the return for the F Y 2007-08?
2. we can take credit of the certificate by just giving letter to the It dept abt the same?
3. We should claim the Certificate in F Y 2008-09?

please reply......

A payment has been done for a expense of 1500$ on 10DEC08 but Bill was recieved on Date 28 Dec 08. Than which date rate should be taken into consideration.

we have make a provision entry for Directors Commission (Section Code 192B) with TDS deduction and credited to directors account on 31-03-2008 but till date the net commission after deducting TDS was not paid to directors what is the due date for TDS Payment to Govt.pl clarify till date we have not paid the TDS also we have to pay the interest on late payment of TDS or not