hi,

Pls tell me if there is any exemption or rebate for a charitable or religious institution service reciever.(particularly for manpower/recruitment services)

the said institution is registered under sec 12A of Income Tax Act.

Can someone explain me the COGS concept. ERP like Oracle Apps and few others follow the COGS Concept while accounting. Inorder to make accounts as per the New Schedule VI, how will Purchases be calculated?

I have a query in AS 12. Government Grants

A Co. have Claimed exemption from Entertainment Tax for a period of 5 years. As per exemption notification Company can collect entertainment tax from the puble to the extent of Rs. 15 crore ( Cost of Multiplex theatre) by selling Movie tickets. i.e.
Ticket - Ts. 75
Entertainment tax - 25
Total Amount to be paid by a person - Rs. 100/-.
Company under the exemption notification is not required to deposit Rs. 25 with Government Authorities. At present company is taking Rs. 25 to its Profit & Loss Account.

My query is, Why Company is not deducting Rs. 25 from the cost of Multiplex theatre by assuming Rs. 25 as Government Grant. ..???

Is it right that comapny is crediting the entire amount to its Profit & Loss on receipt basis.

How many years of the business loss should be brought forward ( being the lower of the two) to reduce from book profit u/s 115JB, applicable to A.Y 2009-10 and A.Y 2010-11?
Please clarify (urgent)?

The case pertains to the Financial Year 2008-09, Assessment Year 2009-10

During Export Sales, an agent commission is paid (Remitted Outside India) and the agent does not have any business set up in India and moreover the agent is a Foreign National. Will TDS Liability be attracted on the Overseas Commission remitted by a Resident Indian Company

An assessee purchased House Property and spent money on construction of boundry walls, installation of main gate, repairs n renovation before shifting to that property. Does all these expenses amounts to Cost of Improvement? The assessee dont possess any records of such repairs like payment to workers and purchase of material i.e. bricks, cement etc. Can he still claim the benefit and on what grounds?

My wife earns interest on bank FD; the FD money was gifted by me to her. How will the clubbing provisions apply and how should i include the income in my ITR as TDS is deducted in her name. Kindly help.

Dear sir,
i am deepak working in Gayatri Projects ltd as a accountant,
its a project company, its company listed in NSE,
its company dealing in T&D devision project with GETCo & MPEB
i have found many employees who is un educated and not capible for work but all person salaries high n higher post,
i am sure about it our ED fraoud for company.
so where i reported this matter?
and any thing positive for companies?

I've completed PCC & articles and looking for a placement in Chennai in an Auditing firm. I'm done with my Final coaching also. Can anyone please provide me with some auditor details so that I can forward my resume...............Please

can i take transfer within the city without having any reasonable ground in first year of articleship.whether permission from the institute is required?please tell me the procedure