Dear Experts,

We have paid Rs.1.5 lakh to increase the authorised capital of our client. My query is under which a/c we have to dr. this amount. We debited to Preliminary exp. is it correct?

Please reply soon. Its urgent

Thanks in advance
Shashi

respected sir,
i want to know is saturday & sunday is given for students for attending there coaching classes after completing 35 hours in five days ( mon - fri ).

Dear Sir,


I want to know whether CST is calculated on Basic or Basic+Excise Duty.
In some Bills i found that Basic is calculated on Basic + Excise Duty.

What is the correct Method to charge CST?

My client has received an incentive for early completion of project under the works contract. The Incentive was announced in the contract when it was entered and now it has been determined. Whether there will VAT on this amount received. Accoring to me it should not be brought to tax under VAT. It is neither a sale of goods nor a service under service tax. It is laible only for income tax.
Is my understanding correct.

Sec 24(b):In case of co-owners, each co-owner is eligible to claim a dedcution of interest on housing loan to the extent of Rs. 150,000/- in case of self occupied property.

Do share any supporting case law for the above.

Also, do clarify whether restriction of interest to Rs. 150,000/- is inclusive of pre-construction interest also.

A was having a flat of 500 sq. ft. for last 10 years. The building was revedeveloped and he took extra 100 sq. Ft. by paying some consideration to builder. Now he sold that flat after one year of redevelopment.

In this case how the capital gain will be calculated? how to treat the extra 100 sq. ft. purchased? whether to treat it as new house purchase or else will be treated as cost of imrpovement?

hi sir r v rao can u give me the phone no of ca student help line . thank u sir plssssssssssss.

Sir,
In one of the cases the A.O. has disallowed the depreciation on a motor cycle on the ground that the Motor Cycle was procured on 31/3 and was not registered in the name of assessee. He has also proposed penalty u/s 271(1)(c) on the addition so made. Is he justified in doing so? I have read somewhere that in such a case the penalty should not be imposed. Please provide me the details of any related case or the provisions.
This is urgent.

Thanks in advance.
Mahesh

Dear friends

pls help me how to audit(internal) a spinning unit with respect to
production,manpower,power etc

my objective is to minimise the cost and increse the profitability.

pls send any checklist or notes to me
E-mail: sreedhargaru@yahoo.co.in

thanking you.

Suppose a person is paid Rs.60,000 on a day for a contract. All conditions for TDS deduction u/s 194C are met but TDS was not deducted.

1) If next day, an entry is passed debiting the party and crediting the TDS payable account with the TDS amount - will it amount to tax deduction at source, eventhough the amount is not really deducted from the total amount payable?


2)If the answer to the above is YES, will it amount to late deduction of tax ?

3)If it amounts to late deduction of tax, what are the consequences?


Kindly answer the questions for each case separately and quote section/rule/sources if possible.


Thanks.