the accumulated loss of a urban coperative bank was Rs.26,00,000 as on 31.03.2006.return was not filed for the financial year 2005-06.
during financial year 2006-07 bank earned profit of Rs. 27,00,000.
can the loss Rs.26 lakhs outstanding on 31.03.2006 deducted from profit 27 lakhs in 2006-07?
if not will the whole profit earned Rs.27
laks will be taxable in the year 06-07?

the accumulated loss of a urban coperative bank was Rs.26,00,000 as on 31.03.2006.return was not filed for the financial year 2005-06.
during financial year 2006-07 bank earned profit of Rs. 27,00,000.
can the loss Rs.26 lakhs outstanding on 31.03.2006 deducted from profit 27 lakhs in 2006-07?
if not will the whole profit earned Rs.27
laks will be taxable in the year 06-07?

RESPECTED SIR/MADAM,
SOME C.A'S OF GWALIOR TELL ME THAT IF I STUDYING ON GWALIOR I WILL NEVER BE ABLE TO CLEAR OUT MY C.A.FINAL COURSE. WHETHER I WILL TRYING SO MANY ATTEMPTS.
IS IT TRUE SUGGEST ME SUITABLE ADVICE.
THANKING YOU!
UMASHANKAR VAISHNAV
C.A.FINAL

One of my client has issued 8% redeemable preference shares in Maarch'08. In november'07 it started to redeem those shares in part. they redeemed them at the Issue price itself. But on redemption they did not pay any amount as dividend for the capital contribution form march to November. Is There any mandatory requirement in act to provide for the Dividend on the redeemed amount of capital.

Facts:We are in the manufacturing of bulk drugs. We are hiring the vehicles for transportation of our employees and some times used for guests travelling to the factory visit.We have been paying the service tax on vehicle hire charges.

Can i take the input credit of the service tax paid on hire charges?

Hi,

I would like to know is carry forward of leave or leave encashment at the end of every year is desiarable.In case leave is carryforward then is the provision for leave encashment allowed under the income tax act in the year of provision.

sir,
PLS ANSWER
urban coperative bank has received dividend from U.T.I & it is shown as income in profit & loss account in their
report.
profit earned for the financial year 2006-07 includes dividend earned from U.T.I.
While filing the return for 2006-07(F.Y)Can the dividend be deducted from the profit shown in the books of accounts & then tax computed on the rest amount?

is there any formula to calculate
cost of funds...expense related to raising the funds were a.interest
b.commission to agents c. admin expenses

hey guys have u heard about it?
the institute is cuming with some new amendments in CA act.. now taking transfer from your CA will not be so easy..
transfer is allowed only if parents gets transfer at any other place..
also some more rules are going to be stricted.. like u can'nt attend ur B.com classes between 9 AM to 5PM..means if u want regular bcom then u will have to opt for the evening classes.. also ICAI members who are providing coaching can't set batches between 9 AM to 5PM for CA students...

i came to know about it from a friend of mine..
i just wanna confirm whether it is true or not??

plz expert reply soon

sir,
urban coperative bank has received dividend from U.T.I & it is shown as income in profit & loss account in their
report.
profit earned for the financial year 2006-07 includes dividend earned from U.T.I.
While filing the return for 2006-07(F.Y)Can the dividend be deducted from the profit shown in the books of accounts & then tax computed on the rest amount?