Whether preferential recovery of statutory dues in case of loss making company is correct.
For e.g.:-
A company has made loss in any particular year. They have deposited excise duty @ Rs. 200 pt. in advance.

Cost of Production Rs. 800 pt
Excise Rs. 200 pt

Total Cost Rs.1000 pt

But they have recovered only Rs. 700 pt for these goods from consumers.


Therefore company has claimed refund of excise duty from Government but they have rejected company’s claim.
Contention of the company is that even they have not recovered cost of production from these goods so how can they recover Excise duty from consumers.
Whether the contention is correct or not, if your opinion is in our favour of the company then please suggest the valid grounds for this and if mentioned in law then please provide
details.

As per circular, the time limit for submission o Form "F" underr CST Act is by end of next quarter. If the dealer fails to submit and also not requested for extension of time limit.
What will be the panalty if any?
Thanks,
Ratan Lal Sharma
Indo Gulf Fertilisers

Query No.:1

Pl clarify the rate of FBT for the following expenses

1. Travel Fare (Bus/Train/Air)
2. Conveyance (usage of Taxi/Auto/2 wheeler)
3. Boarding & lodging - reimbursement or fixed allowance

Query No.2
Whether usage of Taxi or Auto can be ocnsidered as Travel Fare?

I have to file revised return PY 2006-07 earlier fvu file was generated and filed thru NSDL intermediariers.
1.What is the way to get fvu file thru direct form NSDL ?
2.Is form 27A will also genrate and file along with Correct FVU file.

Can someone guide me about the housing loan interest deduction:
In case of joint holder of a house property, Can both holder are intilteled to claim deduction in proportionate basis or they can claim Rs. 150000 deduction on individual basis?

Thanks,
CA Abhishek Jain

When allowability under section 36(1)(va) is not permissible.i.e. when deduction of employees contribution is not permissible to be allowed.Is it if the payment is made after the due date under the relevant law.Is there any grace period allowed under the relevant law after 20 days of the following month and if allowed,is it considered under income tax law.

I HAVE MADE CONVERSION FROM INTER TO PCC.
I HAVE PAID ALL FEES AS WELL AS I ALREADY COMPLETED ARTICLESHIP AND 100 HRS. ITT TRAINING FOR PCC EXAM.
BUT INSTITUTE HAVE NOT UPDATED FROM INTER TO PCC AND SHOWN MY CASE PENDING AS I UNABLE TO CRATE E MAIL ID ON ICAI SITE AS PCC STUDENT.I HAVE FILL FORM FOR PCC NOV. 2008 EXAM.
CAN ANY BODY REPLY ME AS EARLY AS POSSIBLE FOR FURTHER PROCESS I.R.T. CAN I GIVE MY EXAM IN NOV. 08 OR NOT AS FROM MY PART I HAVE FULFILL ALL CRITERIA FOR EXAM.

What Are the guidelines for having Transfer from My Exciting CA Firm?

What is the meaning of cash credit facilities?

what is the meaning of demand loan?