A partner has introduced Rs. 5 lac in August-12 & Rs. 5 lacs in March-13 in the partnership firm in the very first year. Can Interest on partners' capital be given @12% (mentioned in the deed) for the whole year or from Aug-12 to Mar-13?

Sir,
i was worked my previous company just 3 months after that i resigned my job due to personal problem.so can i eligible to with drawl my PF amount ?.

is there any period of time to work in a company to with drawl PF?

Pls, tell me if goods (in which dealer trades or final goods) are destroyed by fire than what about input vat credit... means dealer will claim that from sales tax department or from insurance company in case goods were insured against fire

if i Declare Presumptive Profit 6000000*8% = 480000. than i can deduct salary and interest on capital.(salary 200000+ interest 280000)
now 0

but how to do accounting of these in accounts.

because there is loss of Rs. 500000 in actual books without providing interest and salary

am i eligible for icwai intermediate after passing the CPT(CA) examination.

What will happen if one does not complete his GMCS-I before completion of 1st year of his article ship?
Will it effect the final attempt?

We have a company in which production has not been started yet.where we should include the creditors for cement,bricks,creditors for making the foundation for machinery etc. according to sch vi(R)?whether it should be included in trade payable or in other creditors??

Sir,
I have purchased a new car for my business in september 2013. I have paid car company as per their invoice value. The Road tax, Municipal tax (both life time) & insurance separately.

My query is whether i can debit the amount of Road tax, Municipal tax to my P & L a/c or includes the same in Total car value & claim depreciation @ 15% on that. Please advise looking to current I.Tax law & rules.

Advise by reply will be highly appreciated.

If business having turnover RS 2000000

and showing 8 % profit = 160000

audit is not compulsory ?

and books of accounts is also not require ?

if firm incurring losses than same rule will apply on it or not ?

Gud Afternoon Experts,
Is this is correct that service tax on hotel and restaurent will be exempted upto 31.3.2014.