Best of luck to all the nov 07 examinees.
Do well in exams.

I would like to know what entry i need to pass in tally when the market value is lower then the cost price and inventory control is maintained in tally

Is there any penalty on Non-filing of service tax return.kindly advice me.

hi all,
i am ca final student. my final exam will be held in nov 09. i want to know eligibility to appear in my final exam.

please teel me that what is meant by deferred tax.

thanks & regards
yogesh pant

What is the lock in period for investment in Infrastructure Shares / Mutual Fund covered under Section 80C. Please reply only with relevant Section/ Rule / Notification/ Clause / Provisio mentioning such lock in period.



Further are infrastructure shares / mutual fund purchased from Secondry market eligible for such deduction u/s 80C



Ajay Gumbar

My comopany has not deposit advancetax on fbt paid quarterly
now i want to know about how the interest will be calculated From 01.04.2006 to tilldate that is 27.10.2007 If the tax on frinfe benefit is Rs 40509

Can an HUF start the proprietory business?

Nirma aged 27 years having employed in mnc from may 2006 getting a salary 25000 pm, she pays her house rent of rs 5000/-. She paid annully 12300/- as a lic premium of her own, lic of her dependent father 5000/- and her dependent mother 4500/-.. she invest 12000/- in tax saving bond annully.She also had a fixed deposit of rs 10000/-annuly started fronm nov 07 The detaisl of her salary as given below
BASIC 7,500.00
HOUSE RENT ALLOWANCE 4,500.00
CONVEYANCE ALLOWANCE 800.00
LTA 1,000.00
MEDICAL REIMBURSEMENT 1,500.00
SPECIAL ALLOWANCE 7,140.00
TOTAL 22,440.00
PROVIDENT FUND (-)900.00
GRATUITY (-)360.00
TOTAL 1,260.00
FOOD COUPONS (-)1,100.00
MEDICAL INSURANCE (-)200.00
TOTAL 25,000.00

Her father recently admitted in hospital in which she received as medicliam of rs 150000/- whole amount received by the hospital for the surgery of her father. The company also pay 3500/- as post 60 days expense ad per the company norms and policy.
Please calculate the tax payable for the ay 2008-09 and please advice her for what are the others ways to save her tax.

Whta is the procedure for registration of partnership firm.Is there any website where we can see the procedure.Also what is the penalty for delay in registration.