So please tell me Meaning Of Enterprises in Applicability of Accounting Standard.
Enterprises includes Comany,firms,Proproetory business, but i have Qustion that Whether Acccouting Standard Applie to Trust(not charitable or religious)Or not

Respected Members,

One of the client incurred foreing exps on travelling which includes both Hotels & Food exps. also.

However the client charging all exps. to Travelling exps. foreign a/c only. Due to that FB value calculated 5% on total exps.

Whether treatment is correct as per the Accounting and Income tax? Please reply the soon.

Regards,

Prabhakar

Whether NGO registered under society registration Act 1860 can be assessed as AOP ?
If Yes what will be the basic tax exemption limit applicable in that case

what is the treatment of Voulantary retirement scheme as per the institute guidance notes?

FROM WHERE WE GET THE INFORMATION FOR ACCOUNTING OUTSOURCING

a caterer supplied certain quantity of thali in office, at fixed rate and he raised invoice, which is below Rs. 20000/- but in aggregate it will exceed Rs. 50000/- whether it attracts TDS?

We are a dealer of Andhra Pradesh. We have purchased a good from a dealer in Kochi. The Kochi dealer has charged Additional SSC 1% on CST. Can any body tell me what is Addl. SSC 1%. Whether I must pay this 1%.

I have 2 queries
1. If the income tax has not been filed for the year 2006-2007( due in July 2007) till now, and there is no tax pending to be paid- would it attract a penalty now to file it?

2.If a son gives a sum of Rs 2,50,000 to his father- who puts in a FD for 2 years and then returns the amount with interest to the son, would either need to pay income tax( father has no source of income so interest on FD would not be taxable as he is senior citizen)

Thanks in advance

deferred tx to be calculated on clg.wdv on FA when introducing dta/dtl for first time, in first year

from second time do we need to calculate it on WDV of FA amt. or Expense items creating timing difference ???

please reply soon with full explanation

The reference to the circular with respect to issue of "C" forms for purchases of materials which are directly used for processing and the purchases which are not directly connected with the processing of the goods in question involved in execution of works contract shall not be entitled for issue of "C" forms.

Are consumable such as bearing, spares, accessories, hardware, paints, chemicals, diesel considered as directly used for processing?

In case of purchase of capital goods such as plant and machinery can "C" form be issued?