My assessee passes vat collected and paid through a seperate vat a/c(as a balance sheet item) and does not pass it through the P & L a/c. However this year a vat demand for the past period of Rs.120000 was raised by the vat department (in scrutiny assessmenr) which was paid and debited to P & L a/c. Is my assessee right in doing so ? Will it be an allowable deduction under I.Tax ?Please help

dear sir.. I have a confusion about aricleship training, that how will i accuire more working knowledge? where to do articleship? or so.. and if we are not satisfied wherever we are doing articleship training, a co. or under a chatered accoutant.. how can we apply for change( if any) ??

Help Required frm Experts
I cleared ipcc with 360 mks.wants to get Rank in ca final .my attempt is in may 2014.
1 is it possible?
2.My friends says that only rankers at ipcc and cpt can get rank in ca final,is it true?
3.how much hours i need to daily study in next 7 months?
4. Is it possible by self study?
give your suggestions in respect to this.Plz Help me

Hi experts, I have completed 11months & 20 days of articleship. Nowadays I am preparing for Nov 13 exams, so I don't hav lot of time to study. plz tell me if I get termination from present CA firm now & rejoin some another CA firm after 2-3 months. And also suggest me can I rejoin to my present CA firm after getting termination now???

pls tell me whether it is good to follow previous suggested answers on tax paper

section 44AD (5) Notwithstanding anything contained in the foregoing provisions of this section, an eligibleassesseewho claims that his profits and gains from the eligible business are lower than the profits and gains specified in sub-section (1) and whose total income exceeds the maximum amount which is not chargeable to income-tax, shall be required to keep and maintain such books of account and other documents as required under sub-section (2) ofsection 44AAand get them audited and furnish a report of such audit as required undersection 44AB Now my query is as under: turnover:50,00,000 8 percent is 4,00,000 I.e. greater than basic exemption limit actual profit shown: case1: rs. 1,60,000 I.e. less than 8 percent of turnover case2: rs. 2,10,000 I.e. less than 8 percent of turnover in which case is assessee required to get tax audit done u/s 44ab ? pls suggest to the point with proper interpretation.

R/ all seniors,

in a pvt. ltd concern, payment of PF & ESI, cleared after due date from bank. it happened in 7 months of financial year. PF dept. has charged interest on late payment as it is online now. and damages for late paymet of ESIC has also paid.

During the process of balance sheet finalization, CA said that employer contribution to ESIC and PF will be disallowed on the ground of late payment and it will be add back to profit.

kindly let us know the rules regarding the same.

regards

Anuj Verma

Can IPCC Group2 be passed before Group1? , If examination form for both the groups are filled. Also, before this, have already skipped an attempt for first group.
Awaiting a helpful response.
Thankyou!

A person has only income from business. He reports sales of 20 lakh rupees and net profit of 50,000. He has availed "OD against property" from a bank. He argues that he need not file ITR since his income does not exceex taxable limit. Is the argument tenable under law?

Dear Sir/ Madam

I just want to know that if we getting a consultancy bill. And he/she is not register under Service Tax even he/she not charging Service Tax on the bill. Now tell me weather my company is liable to pay Service or not. If yes than what percentage we give me yours valuable suggestion.

Akash Jhingan