One of my Indian Resident client received Gift from third party NRI of SBI Millenium Bond in April, 2005. In scrutiny of his file for A. Y. 2006 - 2007 can ITO treat the same as taxable u/s 56 ( 2 ) ( v ) without considering the same being the gift in kind ?

My client is employed with TCS in US. They have been paying his salary and deducting tds in USD. My client has filed his W-2 (ITR in US). He left TCS in Aug 07 and TCS gave him a salary certificate in INR.

My client files his ITR regularly in India. How and to what extent do i claim the double taxation benefit in his ITR? Do i have to apply any conversion rate to convert the tds paid in USD to INR? Is there a formula for claiming this benefit and under what section? How will his total income in INR be computed in such a case?

Sir,
Kindly clarify my doubt
Any Expenditure incurred in the nature of fixed asset shoud be capitalised, but what should be the minimum value of the expenditure to capitalise.
is there any circular or is there any note in the as-10.please confirm me

Thanks and
regards
Bandari.

Dear Sir,
i am running a Steel tube cutting & threading business. I have installed a SSI unit and work of our unit is Cutting the long size pipe in stall picess (eg. 1", 2", 3", 4" .... etc.) and threaded these also. these goods are used in house for flow the water to various places eg. Kitchen, Bathroom, etc. and another pipe also produce in this unit (size 2.5 feet) which are use in agriculture. so please advise, Excise duty is applicable or not. if applicable than clear the limit of exemption. if Not applicable than please provide notification or case judgement related the same.

Please mail on the address : toyacy@rediffmail.com
Thanking you.

yours truly,

Prashant Kumar

if a co-operative society (which provides credit failities to members) deposit its funds with another nationalised bank & receive interest on it, can the society claim deduction u/s 80P in respect of this interest

Dear all pls confirm event managemnt services are Professional services or contracting services? THIS IS FOR THE PURPOSE OF TDS MEANS AT WHAT RATE TDS SHOULD BE DEDUCTED BY OTHERS ON OUR INCOME IF WE ARE PROVIDING EVENT MANAGEMENT SERVICES . AT THE RATE OF 2% OR AT THE RATE OF 10%

hi! i want to know which date to b treated as capitalisation date,i mean when we receives an assets but transfer it to stores and some installation cost is yet to b incurred and after some months we install it so like installation date is 1.4.08 and purchase date is 1.11.07 and store receipt voucher date is 15.11.07.
can we do so that consider aasets in book at the time of purchase and start considering for depreciation at the time of installation.
please clarify with the reference of AS-10 & AS-6

Sir/ma'm,
what things as an auditor should be kept in mind while going through MOA & AOA of a large sized listed company?

Whether as per revised AS 15 it is mandatory to get certificate from actuary in respect of "Leave Entitlement"?
Case - Employees are allowed 25 PL in a year & they are allowed to accumulate upto 75 only otherwise it will lapse.
Since it is allowed for short term whether actuarial valuation is mandatory or mere provision in books will be comliance of AS 15.

Dear All,

Pl. clarify :

Whether the amt paid to MSEB for sanction of additional power supply (other than deposit) should be capitalized ?