it says that sec 295 doesnt't apply if the loan is given by a public co to another public co. But than it says that it applies if loan is given by a public co to a body corporate of which not less than 25% of the voting power is exercised by such director.

my question is that does the definition of body corporate includes "public co." too?

Dear experts,


Should bank FD interest received by mutual associations like clubs be taxed at 30%?

As per circular no 320 of 11/1/1982, CBDT has clarified that where the members are not entitled to any share in the income of AOP, the tax will be payable on the rates ordinarily applicable to such AOPs and not at maximum marginal rates.

Then why do the excel ITR 5 utilities calculate tax @ 30% directly? Kindly comment.

Hi,
Its been around one month since I joined my articles. But I'm afraid that my firm is not to the expectations i got in my interview session.
My current firm have lots of data entry work and internal audits, but i'd like to get exposure on stat audit, bank audit, filings on st, vat, MCA and CAG related works.
I'm confused that what will be the picture of me on passing CA with no or less exposure bcos of my articleship training.
Kindly suggest me suitable answer .
Thanks in Advance.

Can anyone explain the risks and rewards of using options (Put and Call).

Is it necessary to share fees of both the countries in case of a partnership between an Indian CA and a CA of a recognised foreign professional body?? If no, then provide the source where it is written? ?

Whether a partnership Firm can do the business of lending money ( Financing Business ) out of its own capital fund ( no deposit or unsecured loan ).

Further whether a Private Limited Company can become one of the partner. There are owned funds and no deposits. (In the Pvt Ltd Company all funds represents to Share Capital. There are no unsecured loans or deposit).

Our query is by becoming a partner as above said NBFC Provisions will attract to company or not.

what is the procedure for voluntary disclosure of income under income tax?
What is the consequence of same?
What is the interest & Penalty that will be levied?
The above disclosure is to be made for AY 11-12.
Will Sec 115BBE BE APPLICABLE FOR THIS ASSESSMENT YEAR?

PLS DO REPLY.
THANK YOU.

Dear All,
Depreciation rates prescribed by companies act 2013 will be applicable from which fy.
2013-14 or 2014-15.

I have posted my articles registration form during last week of march and yet i have not received confirmation letter,and on making a call to institute(last week of april) it is being answered that it is in process but still i din't receive, my friend and me had posted it simultaneously and she had received it within 15 days.what should i do now?

DUE TO SOME REASON I COULD NOT FILE MY INCOME TAX RETURN A.Y 2009-10.SO I WANT TO FILE MY INCOME TAX RETURN A.Y.2009-10 BECAUSE OF HUGE AMOUNT OF TDS ON THAT YEAR.SO CAN I FILE A RETURN ON THAT YEAR IF YES THEN IN WHICH SECTION I FILE A RETURN. SO PLEASE GIVE ME SUGGESTION.