Dear Experts, In a private Company there is conflicts between two directors, so one of the director has given Rs. 7 Crore to another Director for Takeover of Business. So I want to Know the Accounting treatment as well as Journal Entry of the transaction. Second doubt is, to pay this Rs 7 crore Purchasing Director has taken loan from Bank on his name by Mortgaging his personal house. Now on 01/04/2015 he transferred the loan on the name of Company, what will be the journal entry for that & accounting treatment of Interest, whether it is to be capitalised or charged to Revenue? Please help me out .

Dear sir, Can anyone please respond, whether wht would be the rate of interest needs to be paid for the late payment of service tax due for the month of March 2016, as the rate was earlier 18% and now the finance bill got assent as on may 14, 2016 and new rate of interest rose to 24%. For example i have due Rs. 100/- for the month of march. Case 1 do i have to pay 18% till may 13, 2016 and 24 % after may 14, 2016. Case 2 do i have to pay 24% considering retrospectively. Case 3 do i have to pay 18% as the payment belongs earlier period when law does not enforce. Many thanks to respond.

I am a XI std exam in April 2016, and would like to appear for CPT in June 2017. Some people are suggesting that I should register before 30th June 2016 for next year exams. I am unable to understand why register a year in advance. If anyone could please help Would be grateful thank you!

My mother works in Pvt Sector, Gets approx 80000 annually income, monthly by cash in hand. For some reasons, I need to file ITR with her PAN. Do i need to give any document as per income ? Or i can simply put in actual figures..? Since income is within tax slab.

Hi All
is tds deductible on freight charges irrespective of amount????
thnx preet

Dear Expert,

After Online filing of ER-1 or ER-3 , can documents submited to excise department for acknowledgement,

if No ... So give me a notification regarding this case,

reply urgent

Regards

1. If the taxpayer receives a Scrutiny or Enquiry orIncome Escaping Notice under section 142 or 143 or 147 or 153 from the Income Tax Department upto 31st May 2016, then he would not be able to make declaration of that respective year. 2. If a search or survey has been conducted in the previous year and a time limit of serving notice is not completed then the taxpayer cannot apply for the scheme for that year. Considering these two things...if the survey has been made on partnership firm and the firm can not declare the income under this scheme, can the partners in the firm declare undisclosed income in their individual capacity?

In a retail outlet on sale of vat taxable products give a carry bag charging rs 8 , showing separately in invoice .No vat charge on bag.In Karnataka vat return can bag's turnover show as examted sales or have to pay vat. tanks in advance.

My father owner of Brick kiln. There are about 27 employees working. From them only 9 contributes in EPFO (13.8% contribution). What is compulsory minimum contribution should by Employee and employer in EPFO in our case.
I think it's 10% as 10% rate is applicable for establishment from following industries :- Brick , Jute, Beedi, Coir, Guar Gum.
I'm write or not . Please expert in this this field HELP me.Explain in detail.

Respected Sir,

Can we file the IT return of A.Y-2009-10, 2010-11, 2011-12, 2012-13, 2013-14, in the present A.Y-2016-17, If yes than please send the procedure of filling the return.