in terms ofvaluation of stock incase of valuing issues after recording receipt of goods, do we assume LIFO method of valuation if nothing is specified in the question or can we actually use any method? by default, which method to be used in exams?

IF DEALER GIVE INCLUDE EXCISE BILL RS. 100/-+ VAT 5/-=105/- & SHOWING AMOUNT OF DUTY SEPRATE IN THE SAME INVOICE AT THE TIME OF ENTRY IN TALLY OF PURCHASE CAN I PASS THE ENTRY AS PER PLEASE CONFIRM ME. THAT I AM CONFUSE.
NET PURCHASE -89/-
EXCISE DUTY -11/-
------------------
TOTAL - 100/-
VAT - 5/-
------------------
GRAND TOTAL - 105-

Respected Sir, i have a mistake to clear off.. One of my friend has recenlty registered for CPT course.. took Demand Draft of amount of 6000/- .. we are from kerala..so we are supposed to take take DD in care of chennai ICAI bhawan.. but she by mistake took in care of new delhi ICAI bhawan... she havent despatched the form yet..

what remedial measures can be done for this mistake..
waiting for ur solution!
thanking you in advance :)

Can Any body tell me the best demat account. opening company name.?
which carry minimum brokerage or commision on buying and selling the securities and share.
and provide better services..

I wants to known about time period to complete ITT and oreintation program under direct entry scheme is it necessary to complete it before 9 months article or before appearing for May 2015 IPC attaimpt, or i can get it done after May 2015 IPC attaimpt also, bcz i had check that the ITT course batchs are full till Sep ends so can i get it done afterward...

IN FIXED ASSET SHOW VALUE RS. 600000/- OF MY CAR, NOW I SOLD MAY CAR RS. 400000/-. CAN I TAKE EFFECT OF RS. 200000/- IN P & L A/c.
KINDLY ADVICE ME

Sir, kindly suggests on purchase of Mutual Funds units, as follows:-
1. What is the limit of maximum amount to invest in Mutual Funds units by an individual?
2. Is interest/dividend earned on Mutual funds units are taxable or exempt?
3. Is Mutual funds units are relevant for tax benefit for example equity or debt based etc.
4. Under which section, investment in mutual funds are covered?

144C. (1) The Assessing Officer shall, notwithstanding anything to the contrary contained in this Act, in the first instance, forward a draft of the proposed order of assessment (hereafter in this section referred to as the draft order) to the eligible assessee if he proposes to make, on or after the 1st day of October, 2009, any variation in the income or loss returned which is prejudicial to the interest of such assessee.

I have quoted as to what the section says.
my doubt is whether the term "variation of income" can be interpreted as change in the head of income also ? for example; the assessee charges income under the head capital gains and the assessing officer is of the view that the same has to be come under business income. will this amount to variation and income ?? Can the AO directly pass the final assessment order without passing the draft assessment order on the basis that change in head of income without changes being made in the value as such does not result in variation of income.
please help . thank you

Dear Sir

we are manufactures of Packaging Laminate Pouch Laminate paper laminate

can we issue for "c" Purchase of Material (1)Repair and Maintenance M/c item
(2) Consumable Item

Please suggest mi sir

(send mi list also for non related form c)

i filed my income tax return.

in which i showed profit less than 8% of my gross sale. and also the profit less than exemption limit.


but i didn't conduct my audit u/s 44AD.

now deptt issues the notice u/s 139(9).

plzzzzzzzzz tell me wat to do..??

am i did anything wrong?