CAN COPYRIGHT OF MOVIES AND SONGS GENERATED/PURCHASED DURING THE YEAR BE AMORTISED OR/WRITTEN OFF IN THE SAME PREVIOUS YEAR AS PER INCOME TAX ACT, 1961.

PLS PROVIDE JUDICIAL CASE LAWS(IF ANY) AND RELEVANT PROVISIONS REGARDING THE SAME.

In Balance Sheet an individual has shown in Liabllities as 60 laks as capital account, and sundry creditors as 20 lakhs loan recd as 10 lakhs and tallied with Asset Side with 10 thousand as cash in hand, 1 laks at cash at bank and balance as land and buildings. For availing loan Banker is asking bifurcation of Capital Account. How to show details of capital account. Kindly guide. This is very urgent

I have recently joined as Admin cum Accounts if a Charitable and Religious Trust in Karnataka. Since the trust recently started and now 6 employees being recruited-whether Professional Tax to be deducted from the salary?
What other legal requirement to be complied as an accounts-admin?
Please reply
Thanks and Regards,
Akshay.G

Can Department use information gathered from private sources as evidence against assessee

PLEASE PROVIDE THE RELEVANT CASE LAWS ALSO.

Para 35 AS-7, When it is probable that total contract costs will exceed total contract revenue, the expected loss should be recognised as an expense immediately.

In a Case where contract till not started, what entry to be passed to recongnise exp in pl? should we create a corrosponding provision in b/s?

In a case where contract cost of such part of contract which is pending to incurr is expected to exceed revenues, what entry to be passed for same purposes?

hello sir i want to know whether duties, taxes, cess or any amt payable under any law will be added in valuation of closing stock as per sec 145A of IT Act if such duties & taxes r refundable i.e Input Vat, Cenvat etc. since these r not part of our cost hence should not be added in valuation of closing stock

one more ques is whether provision for excise duty is required to be made at end of year in respect of finished goods not removed from factory as per guidance notes of ICAI

if yes what will be its treatment & accounting for such provision
(journal Entries) & if we debit it in trading a/c will it constitute d part of closing stock value as cost of production ?

please explain d above point in detail in respect of AS-2, Guidance Note & Sec 145A of IT Act


Thanx in Advance

One of my client is NRI dureing F.Y 2008-09. In india he has Income from Dividend Rs. 189000/- (He receives this dividend as indian resident). He also have income from Interest on NSC, Bank FD and Savings Bank Interest.Rs. 100000/- and He has LTCG on Land Sold is Rs. 82000/- Please tell me his tax liability for F.Y 2008-09.

P.S He also have Income in US about $25000/-

I have left my job & now I want to withdraw from my Provident fund account.
What is the procedure ? Do i need to close my PF account ? Can I directly do it or employer's interference will be required ?

What accounting entry will happen at the time of removal of excisable goods from manufacturing plant to another plant (which come under different-2 excise range).

Thanks in advance

FAZLE
SAP FI Consultant
fazle_sap_fi@yahoo.in

A Ltd. is a US based company and B Ltd. is an Indian Subsidiary of A Ltd. A Ltd. pays salary to the employees of B Ltd. its subsidiary directly into their bank account. Please note that B Ltd. does not pay any salary to its employees. (All the employees are Indian resident)

In this case who is liable to deduct TDS on salaries of the employees?

Also A Ltd. has paid salary to the employees before the incorporation of its subsidiary i.e. B Ltd. Then on what amount TDS is to be deducted and by whom? Also suggest the accounting treatment of salary in the books of B Ltd.