Recently I have come across a strange matter..Let me share it with you.

One person purchased some land/plot of Rs 40,00,000/- in cash in the name of Company on stamped agreement (dastavej) in January-2012(Say 20 January when transaction occured)

Company Incorporation date is 3 days after the above agreement date.(Say 23rd January-Certificate of Incorporation)

Company doesnt have any machinery or loan etc till 31-3-2012..It has only 1 Lakh Authorised Share Capital..


Now how to adjust such transaction in book?

*
Please Note That In Stamped agreement, the wordings were

...in the name of...Mr XYZ, director of ABC Pvt Ltd..

Stamp Paper were purchased in the name of
ABC Pvt Ltd..

Will it be consider as property of company or Individual?

If it is of Individual..Can company Accept/Reject it?
What is the Time period for passing resolution or any procedure?

what is the procedure correction of income tax challan through assessing officer. to whom we should apply for correction. I have to make correction in Assessment Year and 7days time window has also been lapsed.


kindly help me.......

Dear Sir, Is demand of ICWAs increasing day by day???.. What is the future career prospect of ICWAs after 5 years...Goverment going to boost manufacturing sector.. will it increase the demand for ICWAs..

What is the ideal minimum time for Break Even for any start up business.

HI,
I received CPC arrear demand notice to pay for the AY 2008-09.
Now when i fill the form 280, under "TYPE OF PAYMENT" what should I select?
1. Self Assessment Tax
2. Tax on Regular Assessment
3. Surtax.

Also, under details of payment, there are many columns.
I just got to pay Rs. 8939 or so. So can I key in the amount under "Income Tax"?

Pls advise.

Can ny1 tel me wht an acturial valuer actually do?????

Dear Members,

I would like to have your kind attention please on the topic as follows:-

if Work Contract tax is charged on the agreed amount at the time of work contract agreement, which is the method for calculation wct in following options:-

1. WCT shall to be calculated on agreed amount + service tax amount charged already on Invoice
2. WCT shall to be charged only on agreed amt, excluding service tax amt mentioned in Invoice.....

Looking forward to your kind reply

Thanks & Regards,
Harvinder

Dear expert,
In case of a government deductor, payment made to a contractor Rs. 200000/- on 15-03-2012 and TDS @ 2% Rs. 4000/- was deposited at bank on 18-03-2012 by cheque. Whether the interest will attract and what will be rate of interest.
Please advise.

Please tell me when the adjustment entry of advance tax and tds are required to be made agains provision for income tax?

HELLO FRIENDS
THERE IS A JV FORMED WITH TWO PARTNERS, BOTH PARTNERS ARE PRIVATE LIMITED CONCERNS. IN JV, JV HAS HIRED A FOREIGN TECHNICAL COMPANY.ONE OF THE PARTNER COMPANY HAS MADE PAYMENT TO FOREIGN COMPANY ON BEHALF OF JV.PARTNER COMPANY HAS DEDUCT TDS ON THIS PAYMENT. I HAD A QUERY THAT IS THIS PAYMENT IS ALLOWED AS EXPENDITURE IN JV OR NOT?