hi All

1. pls tell wht are all the areas to be covered in the given list

2. Wht book i can refer to learn basics about foreign exchanges transactions?

1.Policies & Compliance – Board
2.Option Contract
3.Forward Cover
4.Interest Rate Swaps
5.Derivative Procedure – Search from Google
6.Existing Process Study – Who determines & Decides & whether all advices documented
7.Copies of forward cover contract notes / statements
8.Premium and how accounted
9.Any stop loss limits for option contract & forward cover
10 Opportunity gain/loss
11.Spot rules rectification – How Verifies & Source Data
12Rate of transaction date & Settlement date
13Mix of hedging & unhedged
14Cancellation approval process - Profit & Loss
15FCNRB Loan – Accounting or notional basis
16Export & Import Transactions

Dear Sir,
Our Institute is going to construct new building for starting a college. Amounts spent for this construction work will go under which heads in accounts. Should we maintain a separate account for this. Expenditure will be on geological survey and soil testing, architects fees, building materials, contractors charges, etc.
Thanks

Explain the terms

1. Time value of money
2. Appreciation of assets
3. Justation period


S.K.Wallia

Can I gift any amount to relative to save tax as an exception under Sec-56 ?
If No, why ?

Seems Funny. Can I escape tax saying my income or profit or gain as "EARNING" ? under the head Profits and gains from business or profession ?

I mean to say does the EARNING taxable under income tax ?
If yes, where it is mentioned ?

It is known that Income/profit/gain is taxable but EARNING ?

Mr.X consultant for foreign based firm. receives Rs.90000 every quarter.What are the consequences of TDS ?

Mr.X consultant for foreign based firm. receives Rs.90000 every quarter.What are the consequences of TDS ?

This is Ajith Kumar ( Head - Purchase ) from SPEL Semiconductor Ltd., Chennai.
We are a 100% EOU working under EHTP scheme registered with the Designated Officer, Software Technology Park of India (STPI), Chennai. We have the membership of Export Promotion Council also.

We are in need of expert advise with regard to reimbursement of excise duty paid on Fuels procured from Depots of Domestic Oil Company.

In this connection, please refer to the Policy Circular No.37 ( RE-2005)/2004-2009 dt. 5th Dec'05 issued by the DGFT .

As per the above mentioned circular , fuels procured from the depots of domestic oil companies on payment of excise duty by EOU/EHTP/STP/BTP will be eligible for reimbursement in the form of terminal excise duty in addition to drawback rates notified by DGFT from time to time provided the recipient unit does not avail CENVAT credit / rebate on such goods.

We would like to inform that we have been procuring High Speed Diesel Oil (HSD) from the depot of Indian Oil Company , Korukkupet, Chennai, on payment of applicable excise duty for the past few years. We have already filed some refund claim with JDGFT, Chennai, for terminal excise duty paid by us based on the above mentioned circular since we are not availing any CENVAT credit / rebate on HSD.

Unfortunately our refund claims were rejected by the JDGFT , Chennai office stating that we are a 100% EOU and advised us to approach Development Commissioner, MEPZ, Chennai. In this connection, please note that we already filed refund claim with Development Commissioner, MEPZ, Chennai , and they also rejected our refund claims highlighting that our unit is not coming under the jurisdiction of Development Commissioner, MEPZ, Chennai, as our registration is with the Designated Officer , Software technology Park of India (STPI) , Chennai.

STPI also made it very clear that they are coming under Ministry of IT and they do not give any refund.

We filed our refund claim with excise department, DC-MEPZ-SEZ- Chennai and JDGFT , Chennai and every body rejected our claim.

At this juncture, we would like to know who is the competent authority to sanction this refund claim and to whom we should file our refund claim for the terminal excise duty paid at the time of procurement of HSD Oil.

R Ajith Kumar ( Head - Purchase)
SPEL Semiconductor Ltd,
5, CMDA Indl. Estate,
MM Nagar ( Near Chennai)
Tamilnadu - 603 209
Tel : 044- 47405 411
Cell : 99400 49181
e-mail: ajith@spel.com
web: www.spel.com

HI,
THIS IS AGAIN SREEKANTH.CAN I GET ANY AMENDMENTS ABOUT PE2 GROUP1 CONDUCTING IN MAY 08 .PLZ, ABOUT HOW MANY ACC STANDARDS& THEIR AMENDMENTS ,ANY CHANGES IN COMP LAW/BUSSINESS LAW OR COMPANY AUDIT. PLZ TELL ME SO THAT IM GRATEFUL 2 U.

hi sir hemant t dewani one of my friends has passed cpt in august 2007 n he has also got pass certificate but he has failed 10+2 in march 2007 can he register for pcc after passing 10+2 in march 2008 or he should write cpt again pls answer sir