Dear Sir/Madam

A logistics company buys space for Rs.40000 and sells the same space in parts to three different parties from which they get Rs.55000. Whether the turnover to be accounted is Rs.55000 or the net figure of Rs.15000(15000 is their actual income, from which they deduct all expenses and arrive at the profit). Whether this accounting is acceptable as per IT Act?

Regards,

is education cess & SHEC payable on wealth tax/is it payable only on inc tax

Hi.

I would like to know the full format of Profit and loss account for Manufacturing companies.

Can you pls send it as it requires for my analysis purpose.

Thanks
N Nagarajan

WHAT IS THE PROCEDURE TO GET A DIGITAL SIGNATURE BY A CHARTERED ACCOUNTANTS.

author : Pavan Faliya
Posted On : 8/31/2008 6:15:36 PM
Gross Annual Value is Rs.36000
Municipal Taxes paid Rs.50000
Net Annual Value Rs.(14000)

Query is whether 30% Deduction of Sec.24(a) Should be taken on negative NAV ?

We have practice of taking deduction of Sec.24(b) of interest on Loan even if there is no NAV.

Sec. 24(a) does not say that we can't take deduction from negative NAV.

Please answer.


Answer: In This Case Deduction Of Muncipal Taxes Will Be Available Upto Amt of GAV.

NAV Will Become Zero.

author : K.Sridhar
Posted On : 8/31/2008 7:20:17 PM
Dear Sir,

Suppose this is a Security Bill.
Amount Rs 21000
Service Tax Rs 3000
Total Rs 24000
How to deduct TDS u/s 194(c).Is it tds is to be deducted on Rs 21000 or Rs24000.Here Service Tax element is taken in to consideration or not?

Regards


Answer: Actually It Should Be Deducted On 21000/-
But Many People Opine That It SHould On 24000/-.
Anyways If U Deduct On 21000/- It Won't Tantamount to Any Non-Followance Of Any Law.

author : Nisha
Posted On : 8/31/2008 7:51:08 PM
I am in S.Y.Bcom. I am doing my articleship. So I don't attend college lectures. College rules require 75% attendance but I had attend only 1% of it.
They will not allow me to sit for the exams. So what to do? What reasons should I tell them so I can sit for the exams?


Answer: Submit A Medical Certificate And U Will Be Allowed To Sit In Exams.

hi frnds pl. give me details knowledge about sec.40A(2) exp.&pay.not dedu.under act

HELLO EXPERTS,
THIS IS SNEHA KAPOOR, I AM A PCC STUDENT AND MY EXAM GOING TO DUE ON MAY 2009.

PLZ SUGGEST ME BEST BOOKS FOR CA PCC AS SOON AS POSSIBLE.

THE BOOKS I ALREADY HAVE PURCHASED:-
GROUP 1..
ACC - PRAVEEN SHARMA
AUDIT - SURBHI BANSAL
AS - MP VIJAY KUMAR AND DS RAWAT
AAS - DS RAWAT
LEC - MP VIJAYKUMAR

GROUP2..
CFM - ASHISH KALRA
TAX - AJAY JAIN
SMIT - NGPA


PLZ SUGGEST IF THE ABOVE BOOKS ARE SUFFICIENT OR I SHOULD BUY SOME MORE BOOKS. I MEAN SUPER SCANNERS, RELIANCE COMPILER, INSTITUTE COMPILER OR OTHER REFERENCE BOOKS.. THANK U VERY MUCH. HAVE A NICE DAY..

Dear Sir,

Suppose this is a Security Bill.
Amount Rs 21000
Service Tax Rs 3000
Total Rs 24000
How to deduct TDS u/s 194(c).Is it tds is to be deducted on Rs 21000 or Rs24000.Here Service Tax element is taken in to consideration or not?

Regards