One urgent query

The new company law forms form 23 AC and 23 ACA requires company to give related party transactions as per AS 18 with respect to capital related transactions and revenue related transactions.

Pl let me know whether AS 18 is compulsory to all the companies? Some companies are giving details in notes to accounts.

i was registered for pcc on 28-9-2007
that was terminated on 28-2-2008
in second articleship i was registered on 31-3-2008
in April 09 i am completeing 18 months which include leave period
whether i am eligible for May 09 exam of PCC ??

reply as early as possible

regards

what is the reations b/w the above rates+their effect on market price of share

A student's 3 years of articleship training will complete in Nov, 2009.....as per which he is eligible to appear for Final exams in May, 2009 (as per old scheme)...but he has already taken excess leave which entitles him to serve for a period of 6-7 seven months after the completion of training...

My question is...if he is eligible to appear in May, 2009 exams or considering the excess leave period,he will be eligible for Nov 2009 attempt...?

I found some printing mistakes in CPT Study Materials issued by the Institute.

I am providing 3 errors below for your reference. It seems there are many.

1. Model Test papers Vol - II Page - 20 Qn. No. 151 Mistake - 64 to the power 1/2 . But as per Suggested Answers/Hints it should be 64 to the power -1/2.

2. Quantitative Aptitude Page - 13.14 Mistake - P(AUB) = P(A) + P(A).

3. Model Test Papers Vol - II Page 105. Qn. No. 180. Mistake P(A' intersection B'). It should be P(A' union B').

I have seen some more also but I have not recorded them .

Please let me have the consolidate errors and their corrections. if any.

Thanks & Regards,
Ranga.

My client is resident Indian professional who had previously worked abroad. He has funds lying over there which is shown as investments in books of account and has paid tax on interest earnings over there as per DTAA with that country. Now, he intends to transfer back to India.
Whether there shall be any tax liability on foreign exchange gain that arises due to transfer

AN INDIVIDUAL IS VALUING SHAREs AT "LOWER OF COST OR MARKET VALUE SCRIP VISE". THE ASSESSING OFFICER HAS RAISED OBJECTION AND WANT TO VALUE SHRES ON " LOWER OF COST OR MARKET VALUE ON GROSS BASIS"
THOUGH AS -13 " VALUATION OF INVESTMENTS CLEARLY STATES CURRENT INVESTMENT VALUATION IS TO BE DONE ON INDIVIDUAL BASIS. THE OFFICER HAS ASKED FOR ANY CASE LAW ON THE MATTER .

IF ANY BODY CAN HELP ME IN THIS MATTER---
THANKS AND REGARDS
---singh_v_b@hotmail.com--

Good Evening Sir,

As per Section 40(A)3 of Income Tax Act, if Payment is made through CROSSED Cheque(not A/c Payee Cheque) is it treated as allowable expenditure if the payment exceeds Rs. 20000/-

Which carrier is more promising for a qualified chartered accountant?

an assessee has 1/6th share in an inherited property since 1995. in feb 2006, the property was sold to the builder and the assessee is compensated with a two bedroom flat for his 1/6th share in the property and the amount is not quatified in the agreement.the possession of the flat is given in sept 2008 by the builder. the flat is sold after getting the possession.

The queries are:
1) how to arrive at the capital gain in feb 2006, when the property was sold to the builder.
2) when the flat is sold after getting the possession, wheather the period under which the flat was under construction will be counted for ascertaining the short/long term capital gain?
3) what will be the cost of acquision in both the cases.