Respected Chartered Accountants and my dear fellow colleagues,

Please clear my doubt regarding exam leave.
I have registered for articles under PCC scheme. I joined articleship on April 24, 2008. I will complete 15 months of training on July 24, 2009. Can I apply for leave immediately after this date?

suppose an individual has deposited Rs. 5 lakhs for 2years in a fixed deposit scheme in which he will get the compounded interest along with the principal amount only at the time of maturity. in this case should TDS be deducted from this individual every month on the interest accrued monthly or should TDS be deducted only at the time of payment at the time of maturity? which is the relevant rule/ act/ circular concerning this. please help.

Hi All,

want to know the treatment leave encashment given at the time of resignation of employee as per sec 10(10AA).

Can it considered as "otherwise" as per section 10(10AA)

Please answer fast, i need this very urgently.

Thanks.

I am from Delhi, I have done One year of my articleship from a CA firm in Delhi.I have taken termination from my firm in November and now I have registered with a new CA firm in Raipur.

1. Due to some reason I was not able send my Form 103, 102 to the ICAI office. As it has been more than a month since the form has been signed by my new CA principal of Raipur. What penalties would I have to pay for the delay?

2. This CA firm which is in Raipur, Chhattisgarh is registered from Kanpur whereas I am registered in Delhi as an article. Can I submit my form in Delhi ICAI office in Shahdra?

3. Is it possible that I remain registered from the CA firm in Raipur and do the secondment from Delhi?

Please reply all my above questions.
Thanking You

MVAT Audit is mandatory if T.O of sales or purchases exceeds Rs. 40 lacs.

While calculating T.O. Sales, whether Labour charges earned would form part of T.O. of Sales for determining audit applicability?

Sale of goods Rs. 30 lacs
Labour charges earned Rs. 15 lacs

purchases of goods Rs. 20 lacs

Whether MVAT Audit applicable?

Can i treat I - Phone as a computer device and put it in the block of computer to charge higher rate of depreciation on it...

Individual person is receiving professional fees. on such amount TDS is deducted.

Can such individual person can take Car/bike loan from such income and can claim deduction in form of interest & claim deprecaition in books of account.

or
can take home loan and claim interest & depreciation deduction from books of accounts. It's urgent. plz reply.

If Mr.ream purchase some raw material from Mr.Laxman for Rs19000(on 1.05.2008)and for Rs.19000(on 2.05.2008)and the payment(in cash) for both the bill was made on 3.05.2008.
Will these expenses will be disalloved?
Since these expenses are related to two different bills can we make cash payments to the similar person.

If company took credit facility for 6 months so processing charges for six month is supposed x amount than it treated like prepaid expenses or fully charged to p/l at one time only?

Can we deduct depriciation after taking income in flat rate , in 44AD 8 % scheme...

Ref : as per the CBDT circular no : 29d (xix )-14 dated 31-08-1965

please guide me about this circular ,

whether flat rate of profit is applicable beyond the limit of 40 lacs..

when the contractor has not kept the books of account..

please guide me about this matter.....