The turnover is less than 1Cr, but the clients wants to hv tax audit, now my ques is what is the procedure to follow for the tax audit of this prop firm. Is that also required to prepare the auditor's appointment letter & is it also neccessary to send intimation of that to the auditor as we used to do in case of companies.

If house property is in joint name (assuming there are two joint holder Mr. A and Mr. B , share 1:1), and Mr. A is paying entire interest from his pocket, then can he claim 100% of interest paid u/s 24(b) of Income Tax Act, 1961 even if his share in house property if restricted to 50%?

Dear All,

I have a doubt regarding preference shares .

We have received funds of Rs. 10.8 lakhs from the lender as subscription money for issue of preference shares on 31-08-2012 .

But in the annual return for 2011-12 we have not mentioned about this issue .

Now we wont be able to file Form 2 prior to 31-09-2012(AGM date).

The point is can we use the amount of 10.8 lakhs for ant other purpose ?

Thanks in advance .

how to Prepare Commercial law and Auditing exam and also what are the books i have to refer? kindly suggest me...

Hi,

Is it possible to treat in books of account the director's personal expenditure as repayment of directors loan.

Thanks in advance.

What is the procedure to withdraw the amount deposited in CGAS FDR?

please suggest if service provider is availing abatement then, provider can also avail reverse charge mechanism... ???

dear expert, I'm a c.a. working in a manufacturing industry. I'm interested in doing some course that add value to my career and skills. what shall I do. which course is demanding with c.a . whether it is c.s, cma or cfp. please guide what I shall do

Whenever I file ER-1 online it always shows an error "The tariff notification number/serial number of the notification you have entered does not exist in the database!!"

I am using tariff notification no. 18/2012 Sl. no. 28 for Tariff Notification Availed under Duty payable for clearance of goods having CETSH no. 39211900.

There is also a notification 27/2012 saying that the Central Government hereby rescinds notification 18/2012.

First of all I am not able to understand what is the meaning of Notification no. 27/2012. Secondly, I am confused whether the Central Excise duty rate that I am using for my item is correct or not?

Please help me to rectify this error.

Kindly advice whether Service tax on LD(Liquidation damages/penalty for late delivery of goods or provision of services) can be RECOVERED from vendor contractor/supplier.