will it be possible to transfer the drug licence held by one firm to another firm

Dear Experts,

Often, in the judgments delivered by High COurts and Supreme Court, some are categorized as "reportable" whereas some are categorized as "non-reportable".

Can any one explain the difference between there two.

1.What will be implication of a "non-reportable" judgment?

2. Whether such judgments has got any precedence value?

3. What is the authority under which the judgments are categorized?

XYZ Company sells goods on a gross profit of 25% depreciation is taken into account as a part of cost production. The following are the annual figures given to you: Sale (Two month's Credit)18,00,000 Materials consumed (One month's credit)4,50,000 Wages paid (One month lag in payment)3,60,000 Cash manufacturing expenses (One month lag in payment)4,80,000 Administration expenses (One month lag in payment)1,20,000 Sales preomotion expenses (Paid quarterly in advance)60,000 Income tax payable in four installments of which one lies in the (next year) 1,50,000 The company keeps one month's stock of both raw-materials and finished goods. It also keeps Rs. 1,00,000 in cash. You are required to estimate the working capital requirements of the company on cash cost basis assuming 10% safety margin.

what is the literal meaning of travellers commission n why will it be distributed in case of pre n post incorporation in sales ratio?

Subject: Clarification on TCS to be collected on sale of Coal u/s 206C (1), whether applicable at the point of first sale or at the point of all re-sale

As per the amendments inserted by the Finance Act, 2012, w.e.f. 01-07-2012 it is stated “that every person, being a seller shall, at the time of debiting of the amount payable by the buyer to the account of the buyer or at the time of receipt of such amount from the said buyer in cash or by the issue of a cheque or draft or by any other mode, whichever is earlier, collect from the buyer of Minerals , being coal or lignite or iron ore , a sum equal to One percent of such amount as Income Tax in accordance with the provisions of 206C(1).”

term “buyer” in section 206C is defined to mean “a person who obtains in any sale, by way of auction, tender or any other mode, goods of the nature specified in the Table referred above or the right to receive any such goods but does not include : (i) a public sector company, (ii) a buyer in the further sale of such goods obtained in pursuance of such sale, or (iii) a buyer where the goods are not obtained by him by way of auction and where the sale price of such goods to be sold by the buyer is fixed by or under any State Act.


For the removal of doubts, it is hereby declared that the provisions of subsection (1) shall not apply to a buyer (other than a buyer who obtains any goods from any seller which is a public sector company) in the further sale of any goods obtained under or in pursuance of the sale under sub-section (1).


Now the debate lies that whether the TCS will be collected from the buyer at the point of first sale onlyi.e.by the Coal companies (Coal India & its subsidiaries) from the Wholesales/Retailers etc. Or whether the TCS is applicable on the re-sale also(on each point of sale).

Kindly support your answer with relevant circulars/notifications.

DK Ltd. Purchased some machines as follows:

1. On 1/7/2009 Company purchased a Plant at cost Rs.85000 and freight incurred Rs. 5000 and erection charges Rs.10000.
2. On 1/4/2010 Company purchased another Plant at cost Rs. 150000.
3. On 1/10/2010 Company purchased another new plant at cost Rs. 20000 and freight incurred Rs.3000 and erection charges Rs.2000.
4. On 1/7/2011 other new Plant purchased at cost Rs. 70000 and erection charges Rs. 5000 incurred.

Company follows SLM of dep. at 10% p.a. But 2011 beginning onward Company decided to change its method of dep.from SLM to WDV at 15%p.a with retrospective effect.In 2011 on April 1st. 1/4th of plant purchased on 1/7/09 sold away for Rs. 13150.

Show Plant a/c up to Dec.31st., 2011.

letter draft for society for new water connection

is anybody having contact number or personal email id of CA Parveen Sharma, who teach accounts at educomp? i really need it urgently because our city centre are causing big problems and torturing all the students alot....

Sir,

We have made a mistake while paying Profession Tax for the month of Feb.13 and also while filling return for the same.

1. We have due to oversight deposited Profession Tax for Feb.13 @ Rs. 200 per employee instead of Rs. 300/-.

2. While filing the return, we have mentioned no. of employees in Jan month column instead of Feb.13 and that is the reason we did not noticed the mistake of short payment.

We have now paid the difference ot Profession Tax and interest on the same.

While filing revised return, following options are available :

1. Revised Return U/S 6 (4) (a)
2. Revised Return U/S 6 (4) (b) (i)
3. Revised Return U/S 6 (4) (b) (ii)

Request please advice which option we should choose.

Regards,

Nimesh Joshi

Can anybody please provide me a board resolution to terminate a lease agreement??