As per companies act it is mandatory to follow Mercantile system of accounting.

But, professional entity is required to follow cash system of accounting.

Can anyone guide Professional compnay has to follow cash or mercantile systme of accounting.

I had submitted my ITR-1 of F.Y 2010-11 with wrong TAN No., now i received a demand notice from deptt. can i revise my ITR with correct TAN No. if yes, the under which sub section it is filed of section 139.

Can anyone guide me on the following :
1. Mr. A and his son Mr.B jointly purchased House property and takes Housing Loan. Who can claim Deduction for Housing Loan repayment. Whether person making payment or both can claim deduction in same proportion.

2. In above case, if after 10 years the house is sold and all proceeds are deposited in the account of Mr.B (Son of Mr.A), then who is liable for capital gain?

3. Further, if Mr.B invests the money in other House property, then can he claim deduction U/s.54? If yes, then to what extent?

sir. my cwa final result is declared today marks p11 51 p12 exempt( 61) p13 exempt (61) p14 42 but result so on web site is " not complete" please ans that my result is clear or not . please help

In November 2014 exam if companies Act, 2013 is applicable for Audit & Assurance Paper? If Yes, Plz Give me the reference for Applicable sections for the above said paper. if companies act, 1956 will be Applicable or not?

For a new Building a Tyre Making Co. contract with a cement & Steel Suppliers to supply cement in a year,
Cement Suppliers supplies cement and charging VAT @ 5% from tyre co...during the year payments were made over Rs.75000.
Whether tyre co. is required to deduct TDS under 194C at the time of payment.
Experts please resolve my query.

Regards
Rahul

Last year we have added CA in the clients profile in the income tax login for filing tax audit report,does this time also we have to follow the same procedure.

Event Management Tax Audit Limit. Event Management as business ya professional but professional Degree not required for this business. Tax audit Limit for Professional Rs.25 lakh.. Clear fie for Professional Degree

Hi Sir,

When i went to ICAI Office, Bangalore to purchase the Law Updated Books they told me that Companies Act, 2013 is not applicable for NOV-2014 Attempt.Now i'm in a confusion whether it is applicable for NOV-14 attempt or not.

Please suggest me......

Sir my friend is really vonfused bcoz he is not getting proper guidance of conversion procedure, Actually he is in ipcc and in may 14 he failed both groups and now he is graduate nd he wants to know that what is the exact procedure to get convert in direct entry scheme... Plz provide full guidance... Thanking you...