Dear All,

I have a confusion,if we are giving stipend to any employee(labour class)for full year approx Rs.250000 then will it be taxable in any section,
are we liable to deduct TDS for the same,if yes then in which section 192B or 194C.

My frnds are advising me that stipend is fully exempt but if so then companies will have the option to claim extra expenditure at the name of Stipend.
Kindly assist.

Dear All

Can any body guide me on this situation.

A closely held company i.e. say ABC Private Limited is giving Salary Advance to its Whole Time Director who is also a shareholder of the company. Now is that advance will be treated as deemed dividend and to what extent.
Secondly what if the WTD is only a director and not a shareholder what will be the treatment then.
Please do reply and if there any case of any tribunal,HC or SC is available in this regard please quote that one also.
Thanks

In case of a company , billing address is Delhi and shipping address is Faridabad.
How to account for it ? What about the C Forms ? How we can take the benefit of E 1 AND E2 ? Where to pass accounting entries and stock entries so that there should not be any problem.Please guide.

usually in mofussil areas, business men do not maitain bills / vouchers for fuel,salaries paid,local conveyance,mobile charges.freight etc.

earlier we used to report in form 3cb that vouchers for certian expenses are not maintained.

can we do so now ? if mentioned as above now, are we not asking for scrutiny?

Otherwise can we mention in Notes to Accounts
as schedule to Balance Sheet /p/l a/c?

What is proper ? kindly advise.

Can we mention "NO" in case of business like
trading ie for clause 9(a)?

sir,
i paid the exam fee with in the due date i.e. 26th august. and posted the printout on 29th. By tracking the status of speed post i came to know that the post has not been dispatched yet.

Is there any problem???

plzzzzzzz give me reply

The sales in prev.year 2012-13 is 55,00,000 and the np is 230000.The income u/s 44ad will be calculated @ 8 % . please let me know how this is to be shown in the ITR 4

Fixed assets(Machinary)imported in 11-12, which is booked at bill amount, there after in 12-13 currency rate increase and paid excess amount to party, what is the treatment of exchang loss ?? whether debit to profit & loss account or capitalised to the machinary account ???

Respected Sir,
One of my client purchased a shop at Virar, the amount is paid through account payee cheques and agreement is made just on Rs.100/- stamp paper, but the registration and stamp duty cannot be done as according to me the amount has been paid just for the construction of structure and not for the land as in the future may be the person whose name is registered with the land can demolished the property and our investment value become zero. Kindly advice me about the treatment i can do and under which head of balance sheet should i can take.

Thanking You

Safar P Ltd engaged in Transportation activity is having 5 Trucks (Fixed Assets) in its own name. The trucks were purchased for Rs 125.00 Lakhs on 25/03/2012. While preparation of Financial Statements for FY 2011-12, depreciation was charged @ 16.21% for 6 days. So an amount of Rs 66540.00 (Rs 33308*5 trucks) was charged to Profit and Loss A/c. now, my question is how to charge the depreciation during 2nd year.
Should it be on Rs 125.00 Lakhs or on Rs 123.33460 Lakhs (12500000.00 - 66540.00) it means Rs 2026250.00 or Rs 2015464.00 which figure is correct.
Kindly explain the benefit of SLM and WDV rate as per Companies Act
What is NESD as per Depreciation Chart of Companies Act