hi
x company took loan of 5 crores.after some period he paid 2 crores to bank.now he want to settlement with bank for remaining 3 crores rs.bank agree for a same.and 2 cr.Rs paid to bank as final amount of loan.
My quries is :
1.what will be entry in books of x company ?
whether outstanding 1 cr.transfer to reserve or it transfer to profit and loss a/c?
2.and what will tax effect of this.
whether it is addback and tax will cal.
on 1 cr. or not ?

3.what will be position in case of individual ?

hi
x company took loan of 5 crores.after some period he paid 2 crores to bank.now he want to settlement with bank for remaining 3 crores rs.bank agree for a same.and 2 cr.Rs paid to bank as final amount of loan.
My quries is :
1.what will be entry in books of x company ?
whether outstanding 1 cr.transfer to reserve or it transfer to profit and loss a/c?
2.and what will tax effect of this.
whether it is addback and tax will cal.
on 1 cr. or not ?

3.what will be position in case of individual ?

So one can open HUF account even though his father has an HUF account right??.

I already have applied for HUF PAN No and have received the PAN no. Also I have created the rubber stamp of KARTA.

Now I have two questions

a) I want to prepare the ded on stamp paper. so is there any fixed format of it and what amount (Rs100 or Rs200) of stamp paper we have to prepare the ded.

b) What all trasaction normally happen in HUF account. Like receiving of interest. As it is an HUF account so in my bank whether i have to open an saving a/c or current a/c
in my name eg Rajesh K Nagda(HUF). Also only i know is I can not take professional charges in HUF a/c.

Please Guide me with some more information

Regards
Rajesh K Nagda
(rajesh.nagda@gmail.com)

Dear Sir,

How to calculate on Depreciation for FBT purpose.

W.D.V as on 01.04.07 Rs. 1035904/-
Assets addition Rs. 450000/- as on 01.09.07
All assets sold 20.12.07 Rs. 1690000/-

Block of Motor Car is Nil
Please calculation on depreciation ?

Regards
Satyajit Roy Chowdhury

in the formula using in calculation of EOQ


doesn`t the "order cost per order" is variable that depends upon the quantity that which we find by solving the formula.

please give me solution experts and students.

Dear Sir/Mam,

We are into Hazardous Waste Management. We would like to know whether Service Tax is applicable for the Transportation of Hazardous Waste.
Also, Please specify the details as applicable.

Thanking you,

With Regards,
MEPL

Dear friends,

Pls give more details on CA coaching classes in Bangalore, especialy for Final & PCC (Except Yeshas.)& share ur experiance about quality of teaching too.

re,
Arun Dongre

Please suggest me refernce books/notes for c.a. final first group may,08 term.

NRI wants to purchase a residential property in India.
Please narrate what all things needs to be taken care in respect of above.
Is any RBI permission required for the same?

An assessee held certain shares as capital assets. It was converted into stock in trade on 01.04.2006. Cost of acquisition was Rs.20.00 Lacs and f.m.v. as on date of conversion was Rs.18.00 Lacs. As per section 45(2) the capital gain is Nil (Loss of Rs. 2.00 Lacs). The assessee converted these shares on cost of acquisition of Rs.20.00 Lacs. These shares were then sold for Rs. 25.00 Lacs. Assessee declared a Profit from business of Rs. 5.00 Lacs (Rs. 25.00-Rs.20.00 Lacs). The A.O. says that capital assets has to be converted at f.m.v. only and thus there is a profit of Rs. 7.00 Lacs (Rs. 25.00 lacs - Rs. 18.00 Lacs). Is the contention of A.O. correct? Is it necessary to convert capital assets into stock in trade at f.m.v. only? or it is an option available to assessee? Can tax be levied on a profit which never accrued to assessee. His actual gain is 5.00 Lacs and he paid tax on 5.00 lacs?