Respected Sir,
during the audit I observed that company written off excess balances recived from customer.as an auditor should I ask for some approval from management?

thanx regards

Ghanshyam

we invested in weekly dividend income plan mutual fund on 01-04-07 and redemed the amount on 30-06-2007. we earn dividend income during the period april to june. Whether the dividend received is exempt or not. please confirm.

Where I will get a comprehensive & exhaustive checklist for Internal audit of Car Hiring & Ticketing company. The company main business is to provide car on hire for hotels & their guests.It also handles tourist activities & acts as tourist agents & contractors to facilitate travelling

dear all,
i want to know what items are extraordinary items as per indian accounting standards,international financial reporting standards(IFRS)&AS PER U.S GAAP.
LIKE:-Issuing ESOPS to employees,Amalgmation&demerger,Transfer of one Businees unit to other Company.
Are these items are extraordinary items or not , if not tell me some examples

Ours is a software company from Bangalore. We intend to purchase few furniture and ACs from the existing software company. Whether the seller has to collect VAT on re-sale? if so what are the rates?

We are registered under VAT & CST Act. The selling company is not registered under VAT at karnataka, but billing will be done from Gurgoan, but materialise the transfer of goods within Karnataka.

Regards
Suresh

abc is propreitor firm. pl adv -
1) in wat way he can reduce tax liability if his income is say 20-25 lac?
2) is gift gvn to his parents, taxable ?
3) loan gvn to o/sider is taxable ?
4) this proprietor has taken loan for his house, wl repayment of that loan treated as expense??
5) if this proprietor pays rs. 6 lac to some person, under wat head it can be shown as an expense and how much minimum tax has to be deducted?

pl adv.

rgds
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please solve my doubt

my Brother has joined recently as a salaried employee
he has taken personal accident insurance
means money will be received onkly on accident or death

means it is not like Life insurace
so
can he claim DEDUCTION for PERSONAL ACCIDENT INSURANCE

please solve soon

Sir,
Thanks for your earlier suggestions.
I have a query now on Details to be furnished U/s 212 of the Companies Act.
As a part of disclosure required by the holding company, the statement pursuant to Section 212 of the Companies Act to Subsidiary Companies requires details on various things to be given.
This is also to be read with requirements of Accounting Standard 21 on consolidation of financial statements issued by The ICAI.
There are three companies which are subsidiaries by virtue of Section 4(1)(a) where one Company A controls the composition of board of directors of companies B, C and D.
The finding out of extent of holding as required U/s 212 is very difficult or not applicable at all in these cases where the relationship of holding and subsidiary is U/s 4(1)(a) (even where it is U/s 4(1)(c) also).

1.Please help me in making the harmoneous interpretation of requirements of Section 212 and Accounting Standard 21 of the ICAI. Does AS 21 requires consolidation in this case also where the extent of holding is very difficult to calculate?
2.Where it is not possible to find the extent of holding, can we show the figures as 'nil' against the profits dealt or not dealt in accounts as required by section 212? since we have not made any line by line addition in these cases, giving these details as 'nil' is still correct?
3.Whether the details of Changes in fixed assets, borrowings etc., still be given in these cases?
4.Is there any circular/notification etc., being issued by Ministry of Company Affairs or guidance not by ICAI on this?
Please help me in this regard.

Regards,
M.P.Arun

I COMPLETED MY PE2 ALONG WITH MY DEGREE.ALONG WITH MY ARTICLES I WANT TO PURSUE CISA BUT WHEN I CONTACTED THE LOCAL CHAPTER OF CISA(HYDERABAD),PRESIDENT OF CHAPTER TOLD ME TO PURSUE THE COURSE ONLY AFTER COMPLETION OF MY ARTICLES.BUT MY ARTICLES WILL BE OVER BY 2010.WILL IT NOT BE HELPFUL IF I PURSUE THE COURSE NOW??
WHAT IS THE PROCEDURE TO BE FOLLOWED TO WRITE THE EXAM IN JUNE 2008
PLEASE GUIDE ME

the company is having the main source of income by its ordinary business which is mentioned in its MOA/AOA and having also trading income of shares in its books of accounts.
What will be the tax treatment of income from shares in the computation of income ?
Whether it is treated as income from normal business income or speculation business income?