Hi, am asking about cash deposit bank transaction. for example if some person cash deposited above 10,00,000 or more in saving bank account in 3 or 10 installments. then after the income tax send the notice for this person related to cash transaction,so wat can i do ?

my article period ended on 7th feb 2014 I have filled form 107 for excess leave of 30 Days. now can I get frank form 107 it self?
if Yes for what amount? back Dated 107 form is Valid?

Please inform me am confused.....

Thanks in Advance

Hi sir ,

One of my client had turnover of 21 lakhs with a profit of 7 lakhs. His business is eligible for Sec 44 AD,he will get less tax amount if he claim section 44 AD rather than going to calculate tax as per normal provision.

my question is
is it mandatory to disclose and pay tax on book profits rather than 44 AD profits.
His profit seven lakhs more than 44 AD profits.
Please do needful.

Hi

In works contract service provider is having service tax registration and the service recepient too having service tax registeration.

Service tax is included in the bill.

Kindly clarify whether reverse charge mechanism is applicable for service recepient or not.

Hi..! I've decided to take my articles in a mid size firm. Am totally confused of what is going to happen during my article-ship(what part we ll be trained first??) Can we get habituated for the practical training easily since we learnt theoretical aspects till date. I secured 207/400 in Gr1. My friends said me articles will be first introduced with VOUCHING.. is it true??? also should we take interview aspect seriously for a mid size firm??

With regards

A Company has given a Property on Rent(much more than SSI limit of Rs.10 lacs). It is paying Municipal Taxes. The Property is on the Company's name. However, the Municipal Receipt is still issued in the name of the Builder. Payment of Municipal Taxes is being made through cheque from the Company's Bank Account. Whether deduction of Municipal Taxes under Notification 29/2012 is available? Any case law for such a scenario?

dear sir,

use of unabsorbed depreciation is only for one time ( means for mat or normal tax computation)

for eg.

net profit as per P&L a/c is (11-12) : 1,00,000/-

depreciation as per companies act :45,000/-
depreciation as per income tax act :40,000/-
provision for gratuity :25,000/-
int and penalty on service tax :10,000/-

and unabsorbed depreciation is as under

10-11 is 30,000/-
09-10 is 20,000/-

and carry forward loss before depreciation is

10-11 is 25,000/-
09-10 is 32,000/-

now when you calculated mat u/s 115JB

You will utilized unaborbed depreciation and carry forward loss which ever is less ?

when you used that amount ( which ever is less ) you cant use that amount for normal tax calculation if you used for mat calculation

how to solve this illustration and what will be the carry forward amount of ( unabsorbed depreciation and carry forward loss ) for mat and income tax calculation ?

thanks

Dear All,

There is a person called 'A' he let out his House property (huge) to 'B' for rent. After few months the tenant is not in a position to pay rent & also not willing to vacate because (he had done some interior designing to the property)but even the landlord is not able to findout the value of interior designing so on their mutual understanding landlord is paying fixed amount to the tenant(as a compensation) every month till eight years for vacating the property.

In the future can landlord claim setoff that compensation amount aganist future rental income?
If yes as per Income tax Act let me Know.

Hi
Please Refer me Advance management Accounting good book for self study

thanks in advance

Sir,
1.What is the minimum gap required for CA Final registration and CA Final attempt?
2.I got registered for articles on 10/12/2012.when can i get my final attempt?

Please help me sir.........