What will be the accounting entry of TURNOVER DISCOUNT made by party against purchase of pig iron.

i would like to know
1. whether a company can export and import goods in Indian Rupee (INR). ?

2. a company having import from and export to the same party outside India, can make net payment or receive net payment or do they have to settle the invoices individually ?

I have business loss..can i calculate defeerred tax ?;

how it will be shown in financial statement ?

For individual can we create Provision for tax ?
if no please mention the section which deals with provision.

Dear Friends,

During the period of Article Training
How many times Trainee can get the transfer?
If the principal not given the transfer then, what have to do?
The principal can disparate to giving transfer?

Thanking u

sachin

In www.incometaxindia.gov.in/questionbank.htm (Qn 94), I find "The net taxable income from the property must be calculated first and then apportioned between the co-owners. In this process of calculation maximum interest payable of Rs.1.5 lakh can be considered only once."

I found contradicting views expressed in the following:

(1) As per www.outlookmoney.com (Let debt play its part) "Opt for a joint home loan with spouse. This will ...give you more tax-breaks... up to Rs 1.5 lakh each under Section 24 for interest repaymentsince both would be entitled for them"

(2) As per www.apnaloan.com/taxtips, "The maximum limit of Rs.1, 50,000 will apply individually to both of you (i.e. the total deduction will be limited to Rs.3, 00,000). The relevant sections in this regard are, the explanation to Section 26 as well as Section 23(2) and Section 24 (b).

Please enlighten on the above

What should be kept in mind (from the Company's perspective)while giving festival bonus?

What are the tax implications?
a) For Company
b) For Employee

Dear Sir,
Pls guide me, what are the notifications under which we can claim exemption of service tax or service tax refund. We are the manufacturer & exporter of steel castings.

Thanks,
Sanjeev Shrivastava

What are the conditions for vat refund in case of exporters ?