one car is sold and there is no other vehicle in this block.

As per Income Tax there is Capital Gain Of Rs. 185444/-.
As per Books of Accounts there is Loss on Sale of Rs.145788/-.

Deffered Tax Liability regarding Total Fixed Assets already exist in the books
of Rs.895485/-.

Current year Depreciation as per A/C is 2500255/- while as per IT is 1955235/-.

How the Gain /Loss on Sale is treated in Deferred Taxation?

Thanks.

1st year:
Profit as per books:Rs.9715
depreciation as per books:72740
dep as per IT act:294324
diff is 221584
deferred tax liability @30.99% - 68669
2nd year:
DTL opening balance;68669
profit as per book:10054
dep as per books:72740
dep as per IT act:254355
diff:181615
DTL@30.99% 56282/-
DTL Closing balance- 124951

we will generally debit p/l a/c &credit DTL a/c in the year of OTD ,from which year we will write back the DTL &how much amount?i.e., what is the year of RTD?

m done with my Audit completely..
i jus wanted to knw that how to revise it and wat is the best way to recall during my revision b4 exams...
shouldi write a paper and which paprs to write...
i m CA final student appering this nov...

can i know what is the provision of service tax on foreign commission and there is any basic limit for execmption for payment of foreign commission made without paying service tax ?

we propose to set up a unit for plated circular coin blanks. The base material for the coin would be steel on which we would do coating of alloys of copper and nickle.What would be excise duty liabilityand whether both the activity that coin making and plating would be treated separate manufacturing ?

Is Fringe Benefit Tax Applicable on Travelling expenditure incurred for the purchase of machinery? I read somewhere on the net, may be on caclubindia.com, it is not applicable on it, but unable to locate it again. Plz facilitate & if not applicable, how can i prove my point? my e-mail id: varunk.gupta@yahoo.com

SSI Unit registered under Central Excise CENVAT doing Exciseable Turnover less than 100lakhs each year for past five years. Non-Exciseable Turnover of about 100 lakhs which is "AS SUCH" SALES. No payment has been made in the PLA Account.
And Now surrendered the number year ending March 2008. After 3 months the Excise Audit Call has come from the department.
Is the Excise Audit applicable in this case? Please suggest.

i hv just given CPT xam.......result awaited ..........today i met a CA....4 my articleship.....he said that timings 4 articleship r frm 9:30 am to 5:30 pm........n he also added strictly that i must be there with him during these timings......so hw could i manage time 4 my pcc classes n my studies................n plz suggest me best coaching classes 4 pcc that will suit the timings 4 articleship..........i m living in delhi........plz help me out i m very depressed.....

I AM CONFUSED REGARDING TAX DEDUCTED AT SOURCE BASICALLY WHAT IS TDS

We are looking for a CA who can handle and manage business tax returns activity at the end of the year and investment activities throughout the year for an NRI who has business interests in India and would like to actively invest in the Indian market.
Appreciate with some background details.
-C. Sekhar