HI,

I am PE 2 Student , My Eligibility Status for the PE 2 Exams has got expired by Novemeber'2007.

Kindly give me any alternate solution for attempting May'2008 PE 2 Examination and have to attempt both the Groups.

Kindly do the Needful

with regards

G SIVA PRASAD

Kindly Contact Me via Email : siva_11inin@yahoo.co.in

Mobile : +91-9790934699 (Chennai)

Dear Sir,
Medical payment to approved hospital(for specified dieses) is exempt from tax. And for other medical reimbursement is taxable if it exceeds Rs. 15000/- in the hand of employees. As per CBDT circular it seems that when medical reimbursement to emploees exceeds Rs 15000/- than no FBT to Employer and if it is within 15000/- then only FBT is payable that means if Reimbursement is Rs 15100/- then no FBT on employer and for employee only Rs 100/- is taxable. Wheather my interpretation is Right or not. Please clarify.
Regards
CA. Sandeep Aggarwal

Respected CA's!!!!
I have my final exam in May 2009. I would like to know the best text book for each subject.

While making purchases we receive VAT invoices. whether we can take credit of the VAT paid on purchase if the invoice does not idicate anything regarding " TAX INVOICE " or "RETAIL INVOICE".?

Thanks
Dipak Rajpara

In wealth tax subject in the portion of Assets and Liability, under the section of deemed assest the third and the fourth rule says that, "Assets transfered to son's wife" and "Assets transfered to some other person for the benefit of son's wife" will not allowed by the rule. My question is that, why the rule says like that this is not possible on the transfer to the son's wife?

I want to know how many attempts are there for PE-II .Is the attempts are counted seperately for each group .

A Partnership firm has been converted as pvt ltd company under chapter IX of the companies act, 1956 on 20th October 2007. How much depreciation will be allowed to partnership firm and company. As per Income Tax Act Depreciation is not allowed in the year of disposal/transfer of assets. Since Partnership Firm has been converted during the financial year 2007 - 2008 weather depreciation will be allowed to firm or not. As per Income Tax Act Depreciation to the Company should be allowed for half year as Company came into existiant only on 20.10.2007. It appears that only half depreciation will be allowed for financial year 2007 - 2008. Is it not a disadvantage on conversion. Plz reply catagorically stating each event with reasons.


R. A. Joshi

A Partnership firm has been converted as pvt ltd company under chapter IX of the companies act, 1956 on 20th October 2007. How much depreciation will be allowed to partnership firm and company. As per Income Tax Act Depreciation is not allowed in the year of disposal/transfer of assets. Since Partnership Firm has been converted during the financial year 2007 - 2008 weather depreciation will be allowed to firm or not. As per Income Tax Act Depreciation to the Company should be allowed for half year as Company came into existiant only on 20.10.2007. It appears that only half depreciation will be allowed for financial year 2007 - 2008. Is it not a disadvantage on conversion. Plz reply catagorically stating each event with reasons.


R. A. Joshi

29/01/2008


Dear all friends,

Pl. confirm me latest/present catagary of service tax & rate is flat or change catagarywise.

Thanks,

harish

why we write DR notation for Debit and CR notation for Credit