Letter of Credit(LC)is opened by the buyer in favour of the supplier for supply of goods, which ensures the payment to the supplier at the end of the period of LC.Since the money is not immediately received, the supplier discounts LC with bank and realise the money. The supplier pays LC discounting charges.

As per the terms agreed, the buyer reimburses the LC discounting charges to the supplier.

Queries:
1. The LC discounting charges reimbursed by the buyer is in the nature of interest. Is it correct?
2. If it is correct, is it subject to TDS?
3. The buyer in his books of account does not show the Suppliers account in creditors but shows the LC account under acceptance creditors since the LC is opened in favour of the supplier? Is it correct?

we are paid TDS for the month of Nov'07 on 07-12-07, but in this mistakenly on challan 94I written instead of of 94J.

sir please required solutions for change the challan.


sir immediately.

is service tax credit is avialable on reimbersment of expenses to the employees?

if Yes, please give some case law or notification or any statutary supporting

what are relevant cost with examples

What is the procedure for excess application money received? explain how to repay it? Till then where to keep this money?

Proposed dividend unclaimed what is the treatment?

what is the procedure for the unclaimed amount?

While availing loan from bank, we need to make some Front-end fee which is income in the hands of bank.

What is rate of TDS to be applied on such payments and under which section such deduction is covered (which sub Sec of 194 does it relate to)

how many principal can an articles change during the articleship period.... pl reply

WILL INTEREST BE CHARGED FOR LATE FILIING OF RETURN EVEN IF THERE IS A REFUND

i am a ca final student.i am doing articleship in mumbai. i am a hindi medium student. i want to clear my ca final exam in english medium but i am not confindent about my sucess can u suggest me what is important first attempt clearence in hindi medium or second or third attempt in english medium

Sir, Iam in my 2nd year of articleship and want to join for industrial training by 2008 August(24 th month). Can i do the same from abroad preferably from dubai? What is the procedure for the same?