Hello members, i have a query regarding calculation of DP in case of Cash Credit Facility. If a party has availed a limit against Stock and Book Debts whether unpaid stock i.e. creditors will be deducted from Stock or Book Debts as margin in case of Book debts is higher. Whether it will make any difference if Sanctioned Limit is bifurcated against Stock and Book Debts in one account or for that matter if two C/C accounts are opened. Please someone clarify on this matter and whether we have to look at sanction note if a banker contends that unpaid stock is to be deducted from debtors only.

Dear Experts,

I want to Know I have E-file IT Return for the A.Y 2008-2009 and take print out of ITR-V...
Before this Query I know from experts that for the A.Y. 2008-2009 you have to file your return to the Department..
I want to know Do I have to file Manually(onceagain) to the Department or E-filling return Printout of ITR-V have to Submit with 2 Copies (1 Copy for Dept. and 1 Copy for self)
one more thing I want to Know First My Juridiction is Different Place,My. 2008-2009 A.Y Service in Different Place and Now When I E-filling my Both Return A.y 2008-2009 & 2009-2010 form Different Place where I Transfered with Current Employement.

pls give me the Suggetions as early as possible bcs time is running up

Thanks in advance

is royalty a service
is their any tds implement on royalty payment

Dear Experts,

Please advise whether a Private ltd holding co. can freely give loan to its pvt ltd. subsidiary co. if there are any restrictions, what are they


Regards

Is it possible to carry on both tax and statutory audit for an organisation?

2.Whats is the major issues to be considered to carry on a.Tax audit
b.Statuory audit?
C.Sample of audit report?

I want to know waht is poceedure of surrender of ST-2 (i.e Registration Certificate)

is there are any circulars or notification regarding this?
The superrintendent is asking for requirement of last three years ST returns but we had not filed the returns from 01.04.07 onwards as there is no business activities, letter of non filing of return is already filed with service tax.

I am doing my MBA project in final accounts in a firm which does business on consignment. They purchase a stock on consignment at higher value than their sales value which they sells to their customers.
The difference (sales value-purchase value) amount is being reimbursed to them by the company from whom they have purchased.

In their trading accounts they have shown as nil gross profit. their calculation was as follows
Debit side
Purchase 1000 pcs @ Rs. 1250 = 12,50,000
(-) Purchase diff(of sales qty)
350 @ rs.250 = 87,500
TOTAL DEBIT BALANCE = 11,62,500

Credit side
Sales 350 pcs @ Rs.1000 = 3,50,000
Closing stock
650 pcs @ Rs.1250 = 8,12,500
TOTAL CREDIT BALANCE = 11,62,500

HENCE Gross profit is NIL

NOW I WOULD LIKE TO KNOW WHETHER THEIR WAY OF PRODUCING ACCOUNTS IS PROPER

My Dear so called "Experts"....
Let me ask you some easy questions....

Qs. 1. What is the criteria for becoming an expert in this forum?
Qs.2.Why are the answers of some "experts", so wrong !!!!!????????
Qs.3. Why the so called experts have such poor command on English that even a 1st class kid can write better grammer ??????

Why ??? why???? why????

hello everyone,

Can some body tell me whether there is any penlty for concelment in the following case:-

Suppose Mr. A never file return under wealth tax act. He receive a notice from assessing officer for filling of return. He filled return in response of notice.

Now assessing officer want to include all assets for penlty on concelment of income. Is Assessing officer is right?

Also give any circular or case law if any.

if any person forget to carryforwrd and to take setoff in last ay of house property loss what wiil be the solution? can i carryforward the loss in current ay? can i take a setoff in current ay? plz give suggestion.