A company is getting commission from a manufacturing & Trading company for selling their goods in market.

But bills are in the name of Manufacturer or Trader whose goods are being sold.

So on what basis will the company getting commission account its transactions?
1)Company is not having any sales on its own name.
2)What will be audit evidence for auditors.
3)How will the company show its income for tax purpose.
4)What papers can be shown in case of Scrutiny.

Pls help me out!!!!

Hi, Let me know the if i m a PCC student & if look for CS too,is it good combination? & if yes pls let me know the proceedure for CS regarding duraton & training & official Site for CS
Give me ur valuable advice

Thanks in advance

i could not clear both the groups in may 08 exam,so applied for verification of answer papers

i forgot to write my address in the letter for application of verification of answer papers

so will i get my result by post? how to know my result.

Hi all,

Please help me with a correct Journal Entry. Suppose, a Co. has a Development Fund and it wants to purchase some Fixed Asset utilising the said fund. It has a particular Bank A/c (say D.Fund Bank A/c) which represents the D.Fund Value. Now, I think-
Fixed Asset A/c is to be Debited & D.Fund Bank A/c is to be Credited (Current Asset is converting into Fixed Asset)
Again, Development Fund A/c is required to be Debited because of its utilisation (Fund gives Cr. Balance) then which A/c should be credited in this case under Double Entry System of Accounting.

Kindly reply

Thanks in advance

If a person earns money from a limited co.
inrespective of letting out a house.where such co. runs a commercial activity.

so as per your view assesse should treat it as income from other source U/S 56(1)[which says income from letting out the building] or treat as income under the head of house property.

For a Bcom graduate, can they directly enter into PE II course or should they have to join from CPT (base). When does the ariticles start? only after passing CPT?

whether the compulsory acquisition by the local bodies like improvement trust etc.(state owned bodies) are covered under the compulsory acquisition u/s 10(37)

What is a Body Corporate?

my assessee went to abroad on company work.
for filing his return how can we get the signature from him to file the acknowledgement ITR-V
He does not have the Digital signature
can any one advise me?

hi friends,
Can anybody tell me how can one introduce capital while filing his return first time? What could be the sources of capital?