the assesse has superannuation pension received on monthly basis. He is retired from services from 14.01.2010 and getting pension from 15.01.2010.

he has invested in Term deposit for 1000 days on 25.06.11. and maturing on 21.03.14.

kindly advice in which ITR form we have to file Income tax return.

I have agency of aircel company .I got Commission from company after deducting tds. for financial year 2012/13 total order of recharge voucher is near about 1.5 crore & on it I have received @1% and on that 1%commission tds deducted @10% ,total commission received near about 9.6 lacs on that recharge voucher at different rate.

My question in above condition will i do audit of above account as total rechrge voucher sale is above 1.00cr.Or can i do return of it on the basis of commission as none other income from it other than commission received?

Please clarify it!

Dear Sir,
One of my client has incurred loss during last FY. Also there is no tax liability. But some parties has deducted TDs during the year. How I should cosider it while preparing FS?

A partner's is using a car (registered in his personal name) for the business of his partnership - the depreciated value of the car, depreciation and expenses incurred on the car are being shown in the firm's books. Now the partner wants to pull this asset out of this partnership and use it for his other business(proprietorship).
1. What are the entries to be passed in both the books of partnership and proprietorship?
2. Will VAT be applicable?

Thank you.

I have question or query regarding the depreciation in the following case :

1) Suppose somebody purchase a Fixed assets for Rs 150000/- in Apr and sold it Jan. How to Calculate the same?

Also if there is loss on sale of Fixed assets what treatment is necessary in ITR Return.

Manesh Waghmare

Hi, I have two queries if someone can answer them. I have taken a loan of 8 lacs from a friend and have done a down payment of 10.54 lacs for a house. My queries are as follows. 1) I know I have to mention the 8 lac loan under liabilities in my balancesheet, but do I need it in my capital account. 2) if I do not need to mention it in my capital account than there would be a discripancies of 2.54 lacs in my capital account.

Company A Merge in Company B
Appointed date 1-1-2012
Effective Date : 15-12-2012
ITR for AY 2012-2013 filed separately by company A and Company B

After Order 1) would Company A and Company B both file revised returns with company A revising return with figures from 1-4-2011 to 31-12-2011 and company B to file revised return including the figures of company A from 1-1-2012 to 31-3-2012

Dear sir / madam,

we are a manufacturing unit. we have manufactured dies & tools for our customer to produce goods as per their requirement. now we want to recover cost of dies & tools. Since we are not removing dies & tools out of the factory Excise is not applicable. but to recover the cost we are issuing commercial invoice with VAT. is this correct? Is VAT applicable on transfer of ownership?
Pls. help...

Dear sir,

sales tax department sent a letter of professional tax assessment, i don;t know about assessment procedure of professional tax and they also given a time limit of assessment of professional ta. We return file the professional tax before due date for financial year 01/04/2011 to 31/03/2012. I don't know what is document requiring for assessment what the proces.

So please solve my query as soon as possible.


Regards

Pravin Manjrekar

pls guide me for maintaining the accounts of a clothes trading co.
actually i want to know the actual duty as accountant for their jobs
and i also don't know what type of accounts i would be maintained there.
like how to start accounting
what type of accounts to be opened
in manual how to maintain bank/cash book