Dear All,

I have doubt regarding which FOB value to be shown in the Balance sheet.

1. FOB value as per Invoice or,
2. FOB value as per shipping bill, or
3. FOB value as per Bank Realization Certificate.

If we take it as per Bank Realization Certificate, then what about the unrealized invoices till the finalization of Balance sheet.

Kindly clarify which FOB value to be shown in the Balance sheet.

Dear Sir

I am looking forward for job as CA . pls give me format for the same.

thank you.

A person running a manufacturing unit, with more than 10 employees, but not registered under the Factories Act, 1948 is paying freight to GTA.

Is he liable to service tax under reverse charge?

Notification 30/2012 reads factory registered or governed by Factories Act, 1948.

Dear Friends,
I had Property in India. I sold that & received money outside India in Foreign Currency. (i). Whether I've to pay income tax(if any) in India on that property transaction ?
(ii). Whether I can purchase any property outside India out of the amount I received on sale ? {In both the cases (a) after paying tax in India on such Sale, (b) After not paying any tax in India.}
Please Reply it,s urgent.

I want to know that in which FY Sec 185 of Companies Act,2013 is applicable. Because in my company Directors loan and interCompany loan has been stand in F.Y. 2013-14 which is prohibited in Sec 185. so what is a solution for that.

What is the threshold for wealth tax? What are the assests will be taken into a/c while calacualatin wealth tax.

I am confuse betwn allowance and requisite as for children education we get 100p.m all. and 1000p.m . pekrequisite can we sum up both and max ded 1100 pm

Dear Sir,

I am handling account which a function hall

Question
1.they reg. with luxury tax
2. if some one book the hall Pay advance 7000.00 How should i take that entry in which head of account of tally
3.when actual bill raise at the time of function including the luxury tax (to pay the tax ) How should i take that entry in which head of account of tally

They need the Receipt and payment format statement during year only

Dear Sir

Our Company receives services from a Bus contractor for carrying our staff from nearby railway station to office and back.

Bus contractor raises bills to us without charging any service tax on it.
As per him service tax on total amount should be paid by us. Bus contractor has service tax registration number.

Whether this transaction comes under RCM (reverse charge mechanism)
under rent-a-cab service ?

Whether 100% of service tax should paid by us as service receiver (non-abated value)?

or

Whether should we have to pay 40% portion of service tax (partial reverse charge) to govt and 60% of service tax on the bill by contractor.

Kindly advice on the matter & oblige.
Arun

In case of a bill of exchange how a drawee and a payee can be the same person?