Pls suggest whether a private company which is subsidiary of public company should be considered for calculation of ceiling limit under section 224(1B).

If no why ?

and if yes why ?

sir
at present i am pcc student of icai and i have successfully completed my graduation last year further i am a articled assistant in a ca firm

sir
at present i am pcc student of icai and i have successfully completed my graduation last year further i am a articled assistant in a ca firm

i am discounting my bill of Rs. 50,00,000/- thru a private party mr.A and he is deducting Rs.50,000/- as a bill discounting and send me a Cheque of Rs. 49,50,000/- should i require to deduct tax u/s. 194A on rs. 50,000/- whether it covers under definition of Interest ?
so, my query is wheter i should deduct tax on charged debited to my profit and loss account under the head of 'bill discount'. in recent judgement of of Kanha Vanaspati Ltd..v.Additional Commissioner of Income-tax, Range-50, New Delhi, kindly clarify considering this judgement. the main problem is how can i deduct tax as i am not directly paying anything in form of bill discounting as the financer cut the same charges and then after giving me a remaining payment

Whether interest us 234a is payable after the extension of the return filling date for the AY 2007-08.

OUR BEST OFFER
SPECIFICATIONS:
ITEM : HYDRATED LIME POWDER
PURITY : Ca(OH)2 – ABOVE 70%
FINNESS : 90% PASSED THRO 100% MESH MOISTURE : 5%
ACID INSOLUBLE : 5%
PACKING : USED HDPE BAGS
PRICE : Rs. 3800/- PER TON
VALUE ADDED TAX : 4%
LORRY FREIGHT : EXTRA
BONUS/PENALTY : PRO-RATE
PAYMENT : WITHIN 15 DAYS BY DD/CHEQUE

What is the purpose achieved by asking client to reconcile his sales turnover reported in excise returns for the entire financial year with the turnover reported in the financials(i.e. Profit and loss A/c)? Basically i wanted to know why is a client asked to prepare reconciliation statement of excise with financials. According to me sales turnover reported in financials should reconcile with his sales tax returns because Excise duty is payable on production stage.

What is accounting standard? How many accounting standard are there and at present which standard is in used?

what is the benefit of this?

Please provide this information urgently.

thanks & regards,
pinak
pinakaries@yahoo.co.in

Dear Sir,

Whether Weighing bridge is attracted to Excise duty or not????

Dear Sir,

Person in India purchased machinery design from a foreign country on papers. Whether that designed papers comes under customs???? Whether we treat it as goods or not????