I apeared for ipcc both group in may12 and i got it traning in dec12....till that i m eligible fr articleship traning

Friends

my client developped a website during year 2011-12. as his main revenue generation is wholy from this website, he will start earning revenue from the middle of 2012-13. my query is whether said website development cost is a revenue or capital in nature in 2011-12. if it is a capital , under which it should be grouped i.e. software or intangible assets.

Hi
want to know how many amendments we have to study for nov 2012 c.a final direct tax exam...I have given exams in may 2012...bt may b not cleared...so want to know amendments from oct 2011 to april 2012...so that i can start my study according to that updation...please reply..

Thanks

I had a doubt regarding practical issue concerning bonus. It has remained unresolved since year 2008. Below is link to the post :



https://www.caclubindia.com/experts/bonus-provision-practical-issues-27021.asp



The experts who tried to respond to query have not replied to my further question based on their reply.



I request someone to please resolve the query.


Kindly note that in the above case bonus liability booked is ACTUAL bonus payable to employees. The entry is similar to salary payable on which TDS is deducted.


Thanks.

I GOT NOTICE UNDER SECTION 143(1) DEMANDING TAX TO BE PAID NEARLY ABOUT 69000. THE PARTICULARS OF NOTICE REVEALED AN INCREASE OF BUSINESS INCOME BY 50000 AND TDS DEDUCTED BY ME IS NOT DEDUCTED BY DEPARTMENT IN NOTICE HOWEVER TDS APPEARS IN 26AS UNDER SECTION 194H PLZ HELP ME OUT HOW TO KNOW IN DETAIL WHY DEPARTMENT HAS INCREASED INCOME BY RS 50000.AND WHY DISAALOWED TDS .

Respected Experts ! We purchased a Property for Rs.14400000/- and loan was taken from Bank. Property transferred to Partners Account and the Interest charged by bank was debited to partners account. As the loan amount is being used by the partners , we want to debit the principle amount to partners account. What entry should we pass for the same purpose

We passed the entries

Property account Dr.
To Bank Loan Account

Partners Account Dr.
To Property Account

Interest on Loan A/c Dr.
To Bank Loan Account

Partners Account Dr.
To Inrerest on Loan Account

Bank Loan Account Dr.
To Bank Account

How can we charge the principle amount to capital accounts? Please guide me !

Respected Sir,

What is cash transaction limit in case of trust?
if it is more than Rs.20,000?


Thank you in advance

Expenditure of a financial year accounted for in next financial year would be allowed for deduction in income tax in next financial year or not ?
Case.
Bill date 12 march 12
material received = 12 march 12
accounted for 4 april 12

would it be allowed in FY 12-13 ?

Dear Expert
Please advise me procedure for service tax registration through online & also send me power attorney format for registration by representive.

As per the provisions of Sec. 372A, the Section is not applicable on companies providing infrastructure facilities. However the term 'infrastructure' has not been defined in the Act.

Please advice as to whether the exemption is available for power generation company which is a captive power plant for one of its group comapnies?

Regards,
Rishi