hello experts
plz tell me current bonus act provisions for audit purpose of F.A.2007-08
i have heared that
1.bonus is to b given to each employee whose basic rate is upto rs.10000
2.but bonus is to b calculated on rs.3500
or less than rs3500(if basic is less)
ex.if employee basic rate is rs.8000 then he will b given complusory bonus on rs3500
n ex gratia on rs.4500(if co. wants )
if employee basic rate is rs.12000 then he will not b entitled to cumplsory bonus but only exgratia if co.wants

plz tell me am i correct
thankx

I've COMPLETED MY 3 YEARS ARTICLESHIP AND APPEARED THE THEN INTERMEDIATE EXAMINATION IN 2 ATTEMPTS.

AFTER GETTING A JOB IN THE BANK I DISCONTINUED THE COURSE.

AFTER SOME YEARS, I APPEARED PE-II EXAM IN ONE ATTEMPT BY USING MY COURSE COMPLETION CERTIFICATE OF INTERMEDIATE EXAMNATIONS. THE INSTITUTE ALLOWED ME TO APPEAR PE-II EXAM.

TILL NOW I HAVEN'T COMPLETED CA PE-II EXAMS.

NOW I WANT TO CONTINUE THE COURSE.

1) SHALL I RE-REGISTER MY NAME FOR PCC? 2) IF SO, SHALL I ATTEND THE COMPTER TRAINING?
3) SHALL I REJOIN THE ARTICLESHIPSHIP?
4) SHALL I PASS THE CPA EXAMS TO RE-REGISTER MY NAME?

PLEASE GUIDE ME TO CONTINUE THE COURSE...

if a pvt. ltd. company having capital 1.00 lacs and turnover Rs. 38 lacs and raised a unsecured loan from directors and relatives during the previous year Rs. 5 lacs. IS CARO APPLICABLE

A direct marketing agent (Amway) got his commission (below 10 Lakhs) after deduction of TDS. He has not saved many bills although he has incurred considerable business expense.
Is there any percentage of Net Profit he must show so that he can get a reasonable refund without being hauled up for scriutiny

Company X Ltd avails services for repair of machinery on 30 March 2008. The service provider raises a bill dated 30 March 2008 on Co X Ltd for the services availed which is received by the Co X Ltd on 2 April.
The Co. X Ltd after being fully satisfied with the services availed gives credit to the party on 12 May 2008 and makes the payment on 23 June 2008 and subsequently deposites the TDS on 12 July 2008.
Is the policy followed by the Co X Ltd correct as per the Act?
Can a Company book an expense of a date different from the date of Invoice received from the service provider for the same?
What should be the correct accounting for these types of transactions?

Please clarify
(i) what is last date for any individual who have to take refund (no tax to deposit) file ITR for A/y 2006-07
(ii) is there is any limit of refund ??
(iii) what are the possible penalties if he does not submit ITR on time ???

thanks in advance

Hi all,

If an organisation is providing uniform to the employees and gets it back once they leave their job, is the company liable to pay FBT on the money spent? Also please quote the section where i could refer.

my client A foreign company that started a branch as an un-incorporated entity - through registration and approval with reserve bank of India, Does it need RoC registration ? Some information on web sites ( See the links here :http://www.sethassociates.com/incorporation_of_business_entities_in_india.php,
http://www.indianembassy.org/newsite//Doing_business_In_India/Incorporation_of_business.asp,
http://moia.gov.in/showsublink.asp?sublinkid=497)

that include some from Government indicate the entry of a foreign company as one of the two options : as Incorportaed - through RoC and As Un-incorporated - Through RBI.

Some of our colleagues state that it is necessary for both to register with RoC.
Where is the absolute truth?

I was working with a firm of chartered

accuntants. I am a chartered accountant.

I spend 15 years with the firm. Now firm

refuses to pay GRTUITY. Can I filed case

of Professional Misconduct with The Institute Of Chartered Accounants of India?

Please guide me

s.k.patel

Can can any one help me ou with this :

How are the foreign exchange difference accounted as per schedule vi and as per AS 11