Please tell me,

What are IOU's??

There are Two Companies Say X and Y

X is reporting enterprise (India)
Y is foregin subsidary (China )

Quary: While making the investment in foreign subsidary at different dates there was difference in exchange rates which tantamounts to foreign exchage loss
Q1. will it be treated as foregin exchange loss and debited to P & L A/c
Or
Shown as Capital reserve with negitive figures (i.e., Loss)

Q2. Is it correct way of disclosure

Two private limited companies intending to be amalgamated w.e.f. 01-04-2007 (x and Y). i.e. y shall be amalgamated into x and now x shall continue for life. They are supposed to file their papers before High Court next week. Now, Advance tax needs to be paid in which company now,i.e. x shall pay for x and y or x and y shall pay independently

i couldn't crack the last cpt...next exam on nov 4th...can i pass it by preparing 50days nd what r d tips to be remember, i mean which subject should be given importance nd if it is needed to look all chapters in detail?pls help me.....

i couldn't crack the last cpt...next exam on nov 4th...can i pass it by preparing 50days nd what r d tips to be remember, i mean which subject should be given importance nd if it is needed to look all chapters in detail?pls help me.....

Hi,

My client is an Individual having only Income from Salary and Interest from Banks. My client wishes to purchase vacant land wroth of Rs. 25, 00,000/-from Non Resident Indian who is well settled in USA

Now my question is TDS provisions are attract to my client. He has to deduct TDS @ 20% U/s 195 on sale consideration.

Kindly clarify

Regards
K.K.VISWESWARA RAO

Hi i have basic level of Maharashtra VAt knowledge but i want some book which can provide me detail knowlegde.Ca u suggest me some books in easy language which can explain the VAt concept from registration to the end.

What is the remedy if the tax is paid by quoting wrong PAN

if an individual deputed to usa for employment
on 29th sep 07,and as his salary will be taxed their;will he be taxed in india too,when he transfers that amount from usa.And what will be the tax treatment of the exchange difference earned??

Demurrage charges paid to port authorty whether it is allowed under income tax act or not.

please provide backup for your opinion.