A CA working on full time basis in an Industry also provides some consultancy to his private clients. Now these clients want Invoice while making the payment. Can he issue an Invoice? If yes, by what name and will he need to get some registrations & permissions?

Hi,

If a Company purchases some furniture say 1 executive chair costing Rs 4000/-. Will this need to be capitalized as per either Companies Act or Income tax Act.?
What if there are 10 chairs purchased in single bill totalling an amt of Rs 45000/-?

What if it purchases 10 chairs of different dates via different 10 invoices of Rs 4500 each?

Experts pls keep query OPEN after your replies to let other also to comment.

hello sir,

i have appeared for CA-PCC Nov-09 attempt
please tell me how to study....
i am completed my all tutions....
but i am not stating my study properly...
i used following books for study
Acocunt - modules & my tution material for problems & theory
Audit - padhuka prakashan, compilation
Law - padhuka prakashan, compilation
cost & FM - tution material, padhuka prakashan, compilation
Taxation - only Bharat prakashans written by gupta ahuja

so please tell me this books are sufficient for studies...
or can i complete my study in remaining 5 months...if yes then please tell me the way of proper study like time table please....

One of the activity (demerger) of business is demereged into another business including manufacturing units / other assets. Whether VAt is payable upon execution of this transaction on the trading stocks in Maharashtra

When does a CARO is to given in cash of Public and private limited companies.

Ours is a manufactring company and is developing a project ie(Purchased land and started to develop a building for its own use). Can we capitalise salary cost of Our MD, CFO and Other corporate staff on some % basis to the new project as they are attending the sites for some work.

Whether the expenses to be capitalised are to be treated as development cost and AS-26 Intangible Assets would be applicable.

OR

Whether the capitalisation of preoperative expenses would be covered under AS-10 Fixed Assets.

PLease confirm.

An employee receives Salary from his employer which does not include any component by name of Medical or LTA but can he still claim Medical benifits upto 15000 and LTA expenses as per IT rules while filing his ITR?

A Civil Engineer working in Construction Co. receives the cheque(Amounting Rs. 22,000/month after deducting Professional Tax)from the co.(and sister concerns)against the salary .

However Tax is not deducted. Now the employee has to file return of Income.But he won't receive Form 16(which is quite obvious)from the company nor the company provides monthly sattement giving the break up of salary(basic,conveyance allowance....)

If the Income is calculated based on the salary breakup specified in the appointment letter,is it valid?

If yes, is there any need to submit any proof along with the return?

Dear Friend.

Do you know FAMILY TRUST, WHATS BENEFIT THEREOF & WHATS FORMILITIES TO BE COMPLETE.

Please any one knoe this then replay ASAP.

Regards,
CA Radhesham M. Bhutada
9822890980

Ours is manufacturing company. A project is going on for developing the company's new building.

Now i wanted to confrim whether We can capitalise the salary of the person (Includes directors and other managemnt staff) visiting the above project.

If yes Whether it would be correct doing that?

Is their any accounting standard related to this issue?