I registered under IPCC 2009 and i can start articleship after passing 1st group only and as per new IPCC rule we can apply for articleship before exam. can anyone give me idea about this am i eligible for this new procedure ???

Hi,
1)Can loss making pvt ltd co. issue shares at premium.
2) the directors of company decided to issue shares at face value of Rs.10/- and at premium Rs.90/-.

does it possible?

Dear Experts, please suggest the correct accounting for import purchases w.r.t
Date of recording transaction as the material or asset is received in the factory after the date of BOE by transport.
Rate to be adopted as per AS-11 as to what should be the transaction date for accounting purpose, because some people apply CBEC rate for accounting too.

Bill for Clearing and forwarding and freight charges are issued/received almost one month after BOE.

Whether there should be separate date for accounting clearing and forwarding charges other than the date adopted for raw material purchase.

please clear service tax rate on work contract service. can i take service tax set.off on repair of building. how to calculate service tax on work contract service

HI
I AM ABHIMANYU KUMAR FROM PATNA
I ASK A QUESTION ABOUT INCOME TAX RETURN
FILLING.
SIR KYA HAM INCOME TAX RETUNS FILLING
PICHLE 3 YEARS KA KAR SAKTE HAI KI NAHI
AGAR HOGA TO USKE LIYE KYA PROCEDURE HAI
PLS TELL ME
MOB. NO :- 9334701010

Dear Sir,
In case of individual contractor's payment, tds should be deducted at 1%, however deductor is deducting at 2.27%.
Whether there is penalty for deducting at higher rate, though it is being done by deductor in govt. revenue interest.

Please clarify .

Hello Everyone,
I want to resolve the doubt that if an assessee doesn't claim depreciation on asset used in business & Profession(However it's Mandatory)for several years say 10 years & now sells that & claims indexation,capital gain & all that what would the accurate Tax Treatment?
Thanks

What is the application fees for getting IEC number.

Hello,

One of my client has taken technical service from foreign co(European). Payment is made directly to the co and service will be provided in India by the employee of the company. Questions are
1) At what rate TDS to be deducted?
2) What will be exchange rate while paying the TDS?
3) Is there any DTAA with Europe?

To: Caclubindia.com

Dear Sir,

Sub: Clarification regarding maturity proceeds of UTI-ULIP Plan 1971.

********
I am 62 years of age. I had joined the above UTI – ULIP Scheme on 25-01-1999 with an annual contribution of Rs.7,500/- for a period of 10 years. Every Year after taking a sum of Rs.510/- towards insurance the balance was invested and units allotted accordingly. No insurance amount was taken for the remaining 3 years as per the scheme. Further they have also allotted only Bonus Units periodically. No dividends so far.

Now the above scheme matured on 25-01-2009,but I am continuing in the scheme to reap the benefit of better NAV and maximizing my returns.

UTI -ULIP 1971 is not a Equity linked scheme but having Debt and equity ratio of 60:40. Hence I fear that there will be long term capital Gains tax but we can have the option of indexation benefit. I presume that the Bonus given periodically is also subject to the same tax treatment.

If now, when I redeem the Units, what will be my Tax implications and if at all any,how it is to be calculated.

kindly clarify at your earliest.

Thanking you,
Yours faithfully,
V.ARUNACHALAM
25-06-2013