My company is engaged in construction of buildings. One of the construction contracts specifies that the building should be completed before 12.04.2008 and it is specifically stated in the contract that "time is the essence of the contract". The building could not be completed as yet and construction is expected to be completed within 6 months and there is no document with the company evidencing extension of time period.
The contract also contains a clause which gives right to the company to charge interest on late payments.

The issue is that whether the interest income is to be recognised even when the party can refuse to pay the contract amount on account of late complition?

ROC Fees ( Form No. 2 & 5), shre certificate, franking charges, stamp duty on registration of shares- whether these exp.(In capital nature) can be charged from P & L or adjested from security premium A/c.

Pls. give the tax treatment also with specific sec. & case laws as soon as possible.

sir,
here we have formed a pvt ltd co. having 2 directors but now we want to remove the 2nd director by filling form 32 for his mismanagment of company & appoint new director also

can 2nd director back in company without directors permission ?
if yes then how can we stop him to get in to companys matter ?
thanks
kaustubh

I am a salaried employee. I have purchased a new laptop this year. I want to know whether i can get any kind of tax benefit from it.

I have written my exams in November 2008. Can u let me know regarding the date of declaration of results?

dear all,

What is the tax benefit will I get from donating to Prime minister Bihar flood relief fund? Is it 100% or 50%? Pls reply soon.

Whether Interest on income tax (234 B & C) should be included in provision for income tax in P&L a/c?
Is there ICAI Clarification?
Please make reference, if any?

I am paying service through E-Payment. but i did not get challan due to problem in my Internet connection. the amount debited to my bank account. Now, how to get the challan details? please answer if any one know.

Good Morning to all of you,

I Would like to Know Whether any site is available for the List of FII 's in india

Its urgent to know one Company is an FII or not

ThanQ

One supplier has issued a bill to us for the works contract. they have issued it on 26.03.2008. we also have booked the bill on the same date. we forgot to deduct tds & pay to the Govt.

now we want to change the entry from 26.03.2008 to 31.03.2008, because after changing the entry we will have to pay less interest than the above because the due date of payment will change from 07.04.2008 to 31.05.2008.

Can we do as above? Please reply