well..im doin CA..i want to pursue MBA after the completion of CA in one of the prestegious institutions of india..well i have heard somewhere that CAs can get direct admission into ISB(Indian school of business), hyderabad with minimum work experience required..is it true??...what is the ISB admission procedure for professionals like CAs??

one of a person stay out of india in f.y. 07-08 -206 days, f.y.06-07 181day, f.y.05-06 -53days, f.y.04-05- 48 days, f.y.03-04 - 365 days. what is his residential status? and already paid tax on his income in US. so now he is required to file return for the f.y. 07-08 in India. There is no accured or arised income in india.

DEAR SIR/MADAM,

I AM REGISTERED IN AHMEDABAD AND MY ALL CORRESPONDENCE IS WITH MUMBAI BRANCH OF ICAI. NOW I WANT TO TAKE TRANSFER FROM MY PRINCIPALAND WANT TO REGISTER IN JODHPUR OR KOLKATA. BY THAT MY CORRESPONDENCE OFFICE WILL CHANGE ACCORDINGLY. I HAVE SENT MY ALL FORMS AND COACHING TO MUMBAI BRANCH. I AM FEARING THAT WHETHER I HAVE TO RE SEND COACHING TO ANOTHER OFFICE AND WHAT OTHER FORMALITIES TO BE COMPILED WITH?

THANK YOU

SOURABH CHANDAK
CA FINAL

ONE MY NEW CLIENT FILED HIS RETURN FOR ASST.YR 2007-2008 THROUGHT TAX CONSULTANT,THE CONSULTANTS FILED A RETURN ON 31ST JAN.08,BUT HE HAS NOT CONSIDERED THE BANK A/C OF MY CLIENTS AND MY CLIENT HAD RECEIVED CONTRACT RECEIPT DURING 2006-2007, ON WHICH TDS HAS BEEN DEDUCTED RS.47000/-BUT CONSULTANTS FILED RETURN WITHOUT CONSIDERING ALL THIS THINGS..... & FILED A NIL RETURN WITH NORMAL INCOME? NOW WHAT ARE THE WAYS TO CLAIM REFUND?

HI FRIENDS THANKS FOR REPLYING ALL MY QUERIES,FRIENDS NOW I M ASKING A QUERY REGARDING THE ARTICLESHIP.
FRIENDS WHY THE ARTICLESHIP IS BECOMING SO DIFFICULT FOR THE STUDENTS.LIKE I WANT TO DRAW YOUR ALL ATTENTION TOWARDS THE DIFFICULTY FACED BY ARTICLES IN THEIR 3 YRS OF TRAINING PERIOD. THE PROBLEM ARE RELATED TO STIPEND,STUDY,WORK ENVIRONMENT ETC.
IN OTHER PALCE AN M.B.A. TRAINEE OR AN IT TRAINEE GETTING ANYTHING HANDSOMELY WHETHER IT IS STIPEND OR THEIR ENVIRONMENT.WHY THE INSTITUTE IS NOT TAKING ANY SATISFACTORY STEP REGARDING THE MISHAPPENING TOWARDS ARTICLE.I M NOT EXPECTING A RPLY OF THIS QUERY I WANT TO LISTEN WHY THIS IS HAPPENING TO US.

we are into mechanical construction, we had a project which has to be completed in 6 months, but due to non availability of work front because of client problem we completed the job in 10 months. For that we claimed and received the over stay compensation for being idle of men and machinery. now my query is that are we entitled to collect and pay service tax for the money we received as over stay compensation which is not a service?

I read somewhere, as per ICAI revised guideline, gain / loss on foreign exchange currency valuation should be transfer to profit and loss account instead of capitalization of same. Could any one please confirm the correct ness of this. Any Guidance note issued by ICAI in this regards. Thank you.

Happy New Year

Respected Sir,

I want know Educational Allowance allowed as per Income Tax Act Financial Year 2007-08 ?

Is it Undersection 80C ?

In which Section Provident Fund Employee
contribution is exampt?

Your immediate reply will be highly appreaciated

Thanking you

Your faithfully


Vilas Choudhari

Dear Sir,

Yesterday due to heavy load over servers the server if IT was working very slower or not accepting the Returns smoothly. In the evening the peoples were seen rushing from one cafe centre to another or enquiring about the status of working of server. Under such circumstances many returns of Income could not be filed or if accepted by the system the receipt generated dated 1/4/2008. Now what will be the position of the assessees who keep on trying right from 7 pm to 12 midnight but were successful after 12.02 am .Whether they will be liable for any penalty in the following cases
a) where the Income filed is below taxable limits
b) where the Income is taxable and taxes have been paid in advance.