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

i have cleared all the CA exams & GMCS training. Now i have to apply for a membership of ICAI so please tell me that How to apply for a membership of ICAI? What are the formalities and paper works required?

Which are the good articleship firms available in Malad-Goregaon side that can give nice exposure in all the fields i.e. AUDIT,LAW,TAX,ACCOUNTS,ETC.? I jus passed PE2 NOV07 exams & Require list of such firms. Are marks secured in PE2 exams important or %ge essential for firms offering articleship?

It will be onland drilling Rig,Mounted on carrier/chassis with Tyre.This will work together with few items like Drill pipes,Mud pump,Motors,welding machine,Tanks,Safety equipment,Generators,Containers.they can be singly identified items as well package of one.The working of that machine is drilling and workover rig in oil and exploration field.
i want to know depreciation rate as per income tax act and as per company act.

Please tell me if any classes or tution for C.A. final Costing ,will be appearing for may 2008 exam.(Very urgent)I am located at western suberb in mumbai.(Andheri)

we are taking internet connection from Reliance Web Stores Ltd.

Rs.175000/- monthly amount paid to interenet charges to reliance on that TDS deducted or not?

Plz. sir urgent

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

income tax on salary earned outside india.what exchange rate is to be considered for accounting purpose as because it is vary every month?some part of the money transfered to NRE ACCOUNT and some parts r not transfered in nre a/c.then wat will be accounting treatment and in wat way it will be taxable?

out company printing, brouchers and labels contract with out side party.
In the f.y.2007-08 first two months deducted tds as per tds on contracotrs rate.
From the month of june'07 onwards party given VAT bill (4%), on that no deduction of tds, party said.
Now onwards our company people not deducted tds from party.
so, it was correct procedure or not?
as per IT Act it was correct or not?
plz.. sir, this was my major doubt?

Sir,
I thank all for earlier suggestion.
I have a very important query and please advise me on this
This query is relating to Director disqualification u/s 274(1)(g) under Companies Act.
There are two public limited companies A and B and there are common directors in both companies.
The company A has finlaised the accounts for 2006-07 on 01.09.2007.
The annual returns for 2006-07 have also been prepared and we have not filed yet which we will be filing this week with additional fees also.
Now this company A has also not filed for 2004-05, the date of AGM being 01-09-2005 and not filed for 2005-06, the date of AGM being 01-09-2006

Summary For company A
----------------------
F.Y. Date of AGM Annual
Returns with
ROC filed date
------ ------------- -----------
2004-05 01-09-2005 28-01-2008 (filed belatedly with fine)

2005-06 01-09-2006 will be
filed with in this week

2006-07 01-09-2007 will be
filed with in this week

2007-08 01-09-2009 financial year
not yet closed

Company B has filed annual returns till date.

As stated above, we filed the annual returns for 2004-05 on 28-01-2008 and we will be filing the other two immediately.
My understanding of the section 274(1)(g) is that for any attestation on 2007-08 onwards, even if we file the annual returns now, this section will not be attracted immediately. But I do not the date from which, the applicability of Sectio 274(1)(g) in the above scenario is applicable and for what activities it is applicable?
Which date is important here for the applicability of Section 274(1)(g)?
1.Please let me know whether this situation is going to attract Section 274 1(g) for company A?
2.The company A has also closed its operations and is only on the verge of selling its fixed assets also.
3.The company B being a active and regular public limited company(has regularly filed annual returns till date), whether the directors being common to both A and B are safe in terms of the above?
3.If yes, is there any compounding of offence under which the same can be regularised so as not to render the directors also disqualified for Company B also. This is because, the directorship of common directors in Company B is very very important and please let me know this positively and I am keeping my fingers crossed with anxiety.
Please suggest me how the common directors can be saved from disqualifying from Company B directorship.

Regards,
M.P.Arun