Is it good to join big firms/ or small firms?i know the +'s and _'s of both.keeping in mind the study schedule,will any medium sized firm fit for doing articleship? big firms though add a lot to our C.V.? pls advice.I'm confused!!

amount received on money back policy is taxable or tax free under section 10 (10D)? The person insured is alive.

Whether Insurance taken on car is liable for FBT? The car is purchased by the company on loan. I know that Interest on loan is liable for FBT but want to know whether insurance is also liable irrespective of whether car is purchased on loan or without loan??

Pls let me know about the Composition scheme for works contract.basically i want to know how we derive the actual turnover for hotel industries and other such undertakings whic provide srevice.

I WANT TO CONFIRM DIFFERENCE BETWEEN US GAAP AND INDIA GAAP

HARISH ARORA

A Company which has its core business as manufacturing of industrial equipments, had some excess
funds during some part of the year which it deployed in Mutual Funds and earned handsome returns
therein. Same were shown as STCG and tax was paid accordingly. However, ITO has claimed that the
same should be treated as business income and tax should be paid accordingly. Is there any case
law/section to support assessee's intention of getting the gains taxed as STCG?

MVAT Schedule Entry for LPG Gas Cylinders

I made a small (think its serious though) mistake in the Form 108. I erroneously entered more number of weeks experience in the report of Work done section (Auditing, Taxation, Consultancy etc). Almost 40 weeks extra, i.e. 168 weeks instead of 130 weeks actually served. Just wanted to know whether it will cause any problem. Will the Institute tabulate the same and go for scrutniny of the same? I sent the form yesterday. In case of any problem please suggest a possible remedy. My Boss is agreeable to send a revised Form 108 with a covering letter of the Firm to the Institute if that can solve the problem. Please help!!!!!

Hello sir,

any one please provide rank holders list relating to the previous years.
kishore9220@yahoo.co.in
cagkkr@yahoo.com

Q

For the A.Y. 2005-2006, any person having income below taxable limit(I.e. Rs. 50,000/-) and having agricultural income of Rs. 4,00,000/-. Can he file the ITR before March 31, 207 without attracting the penalty clause of not filing the ITR u/s 139 (1) which require the filing of ITR if it exceed the exemption limit. Becoz he is not supposed to file under this section, so i think, penalty of Rs. 5,000/- should not be attarcted.