Land Tax Paid for Manufucturing Concern
It is come Under Administritive Expenses or Production Expenses Please Clarify .

1)What is different between consignment Sale And Branch transfer.


2)Can I take set-off on printing and stationery by What %

please let me know

Hi !

I have a comfortable level of understanding in information technology subject, so, if I can read all the past 12 question papers of information technology for PE-II will that be sufficient for preparation for the coming Nov exam.

i mean i will answer each paper by paper ... i feel i can complete the whole syllabus by doing this much faster and more number of times (may be 3 times)

i want to tell you that i write all the answer i read (for all subjects)so its taking time to complete this subject ...

please let me know if i am wrong

Or please tell me a good notes to prepare from !

Please advice

Thanks in advance

A Co. is basically an investment company. It's nature of business is to acquire, hold shares and trade in mutual funds. The sole income is dividend. While computing tax, the entire income is taken to income from other sources and is exempt u/s 10(34). So though there is huge book profits (dividend income), for tax computation the Profits and gains from business or profession is a LOSS. This happens year after year. Is it right to create deferred tax on the brought forward business losses?

How about creating deferred tax asset / liability on depreciation. i.e. timing difference b/w book depreciation and tax depreciation.. And moreover how the above mentioned company get a chance to show profits as per tax computation? Because only if it changes it's nature of business from investment to trading co. then will the dividend income be treated as PGBP. It is quite obvious that there is no question of creation of deferred tax asset/liability to this investment company as per AS-22. Am i right?

MY CLIENT IS A LABOUR CONTRACTOR. EVERY MONTH BILL IS RAISED ON I DAY OF NEXT MONTH. FOR THE YEAR 2006-07 12 MONTHS BILL IS ACCOUNTED ON 1 APRIL 06 -- 1 MARCH 07. BUT OUR CONTRACTEE IS TAKEN THE BILL RAISED ON 1.4.07, [WHICH RELATES TO 07-08] TO 31ST MARCH 07 AND DEDUCTED THE TAX ON THE BILL RAISED ON 1.4.07. HENCE THE TRNOVER SHOWN IN FORM 16 A AND BOOKS OF ACCOUNTS DIFFERES AND TURNOVER SHOWN IN THE P/L A/c IS LESS COMPARED TO TDS CERTIFICATE BY RS. 5 LACS. IN THE MEAN TIME MY CLIENT HAS RECEIVED A NOTICE FOR SCRUTINY ASST.

WHAT WOULD BE THE CONSEQUENCES. HOW I CAN DEFEND WITH THE ITO. IS THERE ANY SPECIFIC CASE STUDY / CIRCULAR IN THIS REGARD.
PLEASE HELP ME SINCE I HAVE TO ATTEND BEFORE THE ITO SHORTLY.

WAITING FOR VALUABLE REPLY.

A Co. is basically an investment company. It's nature of business is to acquire, hold shares and trade in mutual funds. The sole income is dividend. While computing tax, the entire income is taken to income from other sources and is exempt u/s 10(34). So though there is huge book profits (dividend income), for tax computation the Profits and gains from business or profession is a LOSS. This happens year after year. Is it right to create deferred tax on the brought forward business losses?

Whether the employee contribution towards PF deducted by the employers will be treated as income of the employer if deposited late? is there any case law regarding this fact?

Hi,

Do reimbursement of expenses incurred on dental/optical treatments fall within the purview of exempt medical reimburesents provided by an employer?

If yes, is there any circular clarifying the nature of medical treatments that qualify for the exemption?

I want to know the treatment of transaction for epayment of the taxes of clients with my personal savings account.for eg. If one of my client pay me Rs.10000/- in cash for epayment of taxes through my account and I transfer the same amount through net banking to CBDT.How should I treat this transaction?

If an employee pays interst to his employer for Housing Loan taken at consessional rate, then is such employee is elegible to claim such interest paid as deduction U/S 24(b).