Pursuant to section 3(1)(ga) of the Sick Industrial Companies (Special provisions) Act, 1985, NET WORTH= (Paid up Capital + Free Reserves)

Whereas, Free Reserves are defined as all reserves credited out of the profits and share premium account but not include reserves credited out of re-evaluation of assets, write back of depreciation provisions and amalgamation.

What will be the calculation if the Company has accumulated losses in the balance sheet of the relevant financial year.

Please guide, if we need to deduct accumulated losses from the paid up capital while calculating Net Worth for a particular financial year.

with best regards
Deepika Bhardwaj
Company Secretary

what should be the treatment of "share application money" in the books of investor keeping in view AS-13? Shall it be treated as investment or Loans & Advances. pl. support the answer with relevant case law, if any.

We are Manufacturer of PU Sheets,
At these time we are charging VAT @ 5%.
But some other dealer are charging VAT @ 12.5%. I want to confirm about these that in which schedule we covered.
What % of tax we should charge either 5% or 12.5%.
We are issuing invoice with description like "PU Sheet 35x72x100".
Please confirm about the tax rate.

Sunil Kumar
9811208195

A company has not followed the accounting standards.Auditors suggested to finalise the accounts after complying with relevant accounting standards.suggest any way to finalise accounts without change in this stage?
Please ans this question

Sir I am an advocate. An assessee has now come before with audited balance sheet dated 28-09-2011. He wants me send his income tax return now i.e. after 30-09-2011.
Should the penalty of 1 lakh applicable in this case? I have consulted that CA and he said no penalty as audit is done before 30-09-2011.

Please guide.

please help out....

one of our client deducts tax at source but the data is quite huge and they are able to update the same by around 15th of next month.. So the tds interest is paid for 1 month...this come to huge amt as the tds is quite huge..

So i wish to ask you ,can the department give us a certificate to deposit the same by 20th or something of next month by submitting request for the same..

if yes then please tell the process for same.

note: incomplete payment cant be made as the cheques come from abroad.....

thanks

Hi,

I am currently in the finals of ICWAI and am also working in a leading MNC. I am currently looking for weekend coaching’s for financial management and Indirect Taxation in Delhi.
Finding good coachings in CWA has always been a great issue. Can anyone please advise me of some good teachers available for the Final coachings with their contact details.

Your help will be much appreciated!
Thanks!
Mansi

Can any one pls tell me step by step (since i am gonna file it for the 1st time) procedures on how to file 24Q & 26Q online? What are its requirements etc..

Dear All,
As we all know that all assessee has to file their return online, therefore I tried filing a return. I found a difficulty in the return. In the challan service worksheet, the "source document number tab " is not taking the serial no of the challan paid into the bank. It is showing an error " the source document no is not in the correct format ". There is no comment also to show the correct format of the numbers to be put into. Please someone guide me on this issue.

Best Wishes,
Kunal Mangal

sir my Co. is engaged in realestate business & is incorportion in 21.05.2010 Sir i want to know ant libilities of new established Co. for pf & esi. & if applicable please me guide Esi & pf full details knowledge soft Copy of any expert