1.I have given advance towards expense for more than 20,000

2.I have made advance payment of more than 20,000

does above two cases are disallowed ? explain with provision if possible

Hi I hav jst joined this forum I want to know about the good ca firms in Delhi to persue my articleship

Plz help me solve these probs . I need lucid and clear concepts abt them and their procedures.

Case I
A consignee sold goods costing Rs 50k at a profit of Rs 10k . Out of total sales, 30% was credit sale. As per the agreement, the consignee will get 5% ordinary commission, 2% delcredere commission on credit sale, and 3% over-riding commsion on amount in excess in cost price. The amt. of commission is :
a) 3540 b) 3840 c) 4500 d) 3000

Case II
Sundry debtors of MS Santosh amounts to Rs 25000 and bad debts Rs 3000. Santosh provides for doubtful debt @ 2%, and for discount @1%. The amount of net debtors in B. sheet will be :
a) 21560 b) 22k c) 21780 d) 21344

Case III)
Light Ltd has 10000 P.shares of Rs 10 each to be redeemed after 5 years. The company forfeited 500 P.S on which final call Rs 2 had not be been paid, after due notice. Remaining shares were redeemed out of reserves of the comp. The amt. to be credited
To C.Redemp. Reserve is
a) 1lkha c) 95k c) 99k d)99.5k


Cud sb explain me the soln. to the following problems:
A)
Jadu LTD reissued 2000 shares, which were forfeited by debiting Share forfeiture account by Rs 3000. These shares were reissued at Rs 9 per share. The amt. transferred to Capital reserve a\c wud be a)3000 b) 2000 c)1000 d)none

The solution is “Profit on forfeiture = 3000 - Loss on reissue 1000 = Rs. 2000 transferred to Capital Reserve”.
How the loss on reissue became 1000( Rs 1 * no. of shares; no. of shares aint given)

B) Capital introduced by A on 01.04.05 was Rs 3 lakh. Further capital introduced during the year was Rs 50k in mid of year. Mr A withdrew Rs 2000 each month(on first day each). Interest on drawings is charged @ 5% pa. Profits during the year Rs 20000. Capital at the year end is a) 345350 b) 395000 c) 346000

Soln: 350000 – “24650” + 20000 = 345350
How 24650 and why it came? New capital= Old-drawings+Profit + Interest on Drawings (received) , isn’t it?

What is the procedure for filing the annual TDS return ?
Plz reply in details ?

hello...

i want to ask that when i will be able to give my CA final attempt n what will be my articleship period?????

if i clear my pe-II exams in may 2008

n pls also tell me that what is the right time to do 100 hrs IT training so that i can do it without wasting my time...

do tell is thr any cut-off date procedure to get register 4 the It training or articleship...

thanx in advnace...

regards,
sonal

Dear Sir/ Madam,

I am facing a query for which i have not been able to get a clear answer.
My Query is that in case of contractors engaged in construction of residential/ commercial complex, who are providing only labour i.e where they have entered into a contractor with the builder for construction and the material is supplied by the builder,(for civil construction, flooring, electrical and finishing services) whether such contractors can get their registration changed form the head Construction of residential/commercial complex and get themselves registered under works contract to take the benefit of concessional rate of service tax. Also would it be advisable for them to do so?

I would be waiting for your response.
Thank you,
Yours truly,
Ruchi Jain.

I work in a 5 day (never know what hours) week job with saturday and sunday off. Kindly suggest me some easy to grasp, precisely written, exam oriented books for all the subjects for CA Final (May 2008). I like books that detail on concepts with continuity rather than in a question-answer format. Salary is a necessity, else I would have quit my job and joined an institute for help.
ps. Currently, I am illiterate and ignorant towards CA as my work or life is away from any CAs or eager CA students. I have no one to take guidance around. Can someone be my mentor?

1. The company is under the construction of fashion city project all the preliminary expenses are capitalised as capital work in progress.It does not have profit and loss account. now can the benefits provided to employees are liable for FBT ?

2. Can share application money used for meeting the expenses ?

3. Today am receiving input service after 5-6 years i will be providing output service. so can it be set off after 5-6 years ?

4.when does the company has to start contributing towards PPF,ESI ?

5.For one of the client i have deducted tax amounted to RS.10,00,000 (on credit basis)after receiving the bill. but still not made the payment to the party. now i dont have sufficient fund to remitt Rs.10,00,000

how to calculate 'book-profit'u/s.115JB?.
can i know it in detail?

hi i have joined ca in aug 1999 in ca inter i have completed my article training in aug 2002.but i have not cleared any of the groups of ca inter or pe iind.nov 2007 is my last attempt.what i do i am confused. i am want to rejoin ca for that what i do.



i wanted to know:



1.what i am elgible for next two attempts of pe 2nd till nov 2008 or not?


2.if i am not elgible then what i do to rejoin ?



3.what it is neccessary for every ca student to take 250 hour I.T. training ?becoz i have not taken the IT training
4.what it is neccessary to me that i give the exam of cpt.when i rejoin and go with pcc
please friend give me right information and clear my doubt.i am very thankful for this