Hi

Please help me to solve this question.

D. Ltd. issued 2,00,000 shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows:

On application : Rs. 20

On allotment : Rs. 50 ( including premium )

On first call : Rs. 30

On second and final call : Rs. 20

Applications were received for 3,00,000 shares and pro rata allotment was made to applicants of 2,40,000 shares. Money excess received on aplication was employed on account of sum due on allotment as part of share capital. E, to whom 4,000 shares were alloted, failed to pay the allotment money and on his subsequent failure to pay the first call, his shares were forfeited and F, the holder of 6,000 shares failed to pay the two calls and his shares were forfeited after the second call. Of the forfeited shares, 8,000 shares were reissued to G at a discount of 10%, the whole of E's forfeited shares being reissued.

Q Application money adjusted against allotment = ?

Q Net balance in Share Capital account = ?

Q Net balance in Securities Premium account =?

Q Net balance in Share Forfeited Account = ?

Q Net balance in Capital Reserve Account = ?

One of my client deducted TDS on some payments during FEB 2008. Though he was supposed to pay the TDS by 7Th March 2008 , he paid the same in the month of April 2008. I wish to know in which financial year the amount paid shall be allowed as deduction.

if lfat is locked. can society charge for maintenance?????

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thanks

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Suppose employee leaves the company before one year then whether this compensation paid will can be claimed as deduction from Salary income or else otherwise how to claim this as deduction?

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Dear All

In an search case the some undisclosed purchases and sale was found and special audit was called for and in the audit report it is mentioned that there are Nil cases falling u/s 40(A)(3. But the learned ITO while drafting the order invock the provision of 40(A)(3)and disallowed 20% of purchases and made the addition and he had also made the addition by applying G.P Rate of Sales.
Is he Justified
Please reply with relevant Case Laws

Dear All

Please let me in details know whal would be the position of cases abated by settlement commission in which no writ is preferred by assessee and how to deal with that cases and please also let me know in detail whether there is any benefit of filling the writ know after the abatment of case by the settlement commission

One person engaged in business and he purchased a Vehicle in the name of his son(who is major).The vehicle is specifically used for business.Can he claimed depreciation?