We purchased the asset USD : 259 INR=60.19
at Time of Payment USD 259 - INR :59.00

Please say whether below mentioned treatment is correct with reference to asset cost?

Fixed Asset a/c Dr.Rs 15,589 (259usd* 60.19)
Creditors a/c Cr. 15,589 (259 *60.19)


Creditors a/c Dr .Rs 15,589 (259*60.19)
Froex gain a/c Cr RS 308
Bank a/c Cr . rs 15,281 (259*59.00)

Sir kindly advise if we have paid 2 lacs to the govt with challan for some land tax charges can we book this expense in our books or will it be in admissible since cash more than 20000 pls advise

In F.Y. 2012-2013, if an Indian company has made sales of around Rs 97,00,000 to an assosiated enterprise in USA, Is it mandatory to make Transfer pricing report? (form 3CEB) The Indian company has incurred loss in that F.Y

i have filed my online exam form for IPCC 2013,in that i hav made mistake in selecting the option for differently abeld choice bymistakley i hav selected the option YES instead of No. so please help me to how to rectify it.????

Read more at: https://www.caclubindia.com/forum/details.asp?mod_id=191650&offset=1#.UhN03JKTSKU

sir i hv passed grp 1 in may 13
so i want to start articleship
what is the procedure for stating articleship
plzz help

Sir
Inrespect of an assesee who is in receipt of gift by way of Foreign remittance and transfer from NRO account to her father around Rs 50Lakhs and the father is going to invest in his business.In this connection whether any tax liability in the hands of the recepient?.
RGDS

Hi,

Someone may please see the following and reply back:

Query 1

In view of Re.1/- short in respect of EC for every month, system throws Error in Return ‘EDU Cess Payable does not match with the Tax Paid for Month One to Six’?

Should I ignore this error and proceed filing Form ST-3?

Ans : ………………..

Note : If we compute directly at 12.36% on taxable value, our working is correct. But, if we compute separately like 12, 2, 1, then Re.1/- short as per ST-3 Utility.

Query 2

Whether there will be a problem / impact on account of such negligible amount Rs.6 in total.

If anybody has come across such experience while filing Form ST-3, please share your views.

Ans : ………………..

Thanks in advance for your replies.

Dear Experts,
I have a query as what kind of matters can be discussed in board meeting and what not.
we are planning to add briefing of compliance status (labor, secretarial, income tax,finance)as an agenda for every quarter.

Can it be added as agenda and Is is a good and perfect practice.

Is Industrial training and articleship one and the same or is there a difference?
If so, can u explain it

Thanks in advance

Is personal accident insurance is eligible for deduction or not and under which section 80C or 80D??? or other???