Hi Sir.. Is no objection letter from principle is mandatory for applying GMCS 1 in 1st year of Articleship? coz Im in a break now as my principle didnt sign form 109 and m waiting for that.

Hello Everyone,
Please clarify what is the test of an item to be a trading liability u/s 41?As per Rollinstare(Something like this) case law term loan for purchase of capital asset is not a trading liability but working capital loan is.Plus what is the tax treatment of term loan waived(for purchase of capital asset) & under which section?Also all this under business profession head
Thanks

will the result of ca final be declared on 3rd week of july or going to be postponed. any guess......heard this time results are going to be good......

I completed my b.com in 2009 . I pursuing ca final . My relatives are in uk .. I am confuse to go there or stay in india . It is advicable to go uk ?? What are the opportunity there ? Is our ca degree consider for job in uk ? Which is better option i complete my ca here and after migrate there ?

Kindly Note,
I started new business on date 14/02/2013 & was awarded an order of Rs. 18 lakh in the firm. in FY 2012-2013 i raised two invoices whose total amount was under 9 lakh. Now in this FY. My limit of 9-10 lakh has been exceeded when i made 3 more invoices after making my third invoice on dated 27/06/2013 Please clarify:

1. I have applied for service tax registration on dated 04-07-2013, is it correct for my above mentioned scenario?

2. On which amount i have to service tax & by what date? (my bill total in FY 2012-2013 was 791200.00, now in FY 2013-2014 it has became Rs. 1021795+1186521.60=2208316.60 till date)

3. Kindly mention will i have to submit return for first quarter in FY 2013-2014 also since my invoice dates when my limit of 10 lakhs was crossed fall in first quarter of FY 2013-2014. After the formation of company the invoice details are as given under:

L-1 amounting Rs. 701200.00 dt 26/03/2013
L-2 amounting Rs. 900000.00 dt 26/03/2013
L-3 amounting Rs. 822995.00 dt 08/04/2013
L-4 amounting Rs. 198800.00 dt 26/04/2013
L-5 amounting Rs. 1186521.60 dt 27/05/2013

Please give pointwise reply urgently

Dear Sir,
which services comes to in negative list as per service tax

I have filed Form 1,32 and 18 to incorporate a company but MCA demands re submission citing following reasons:

"Please scan affidavit/declaration duly notarised from all subscribers/directors seprately,first at the time of incorporation subsequently whenever company changes its object , to the effect that company directors shall not accept deposits unless compliance with the applicable provisions of Companies Act. 1956,RBI Act 1934 and SEBI Act 1992 and rules /directions /regulations made there under are duly complied and filed with concerned authorities"

Please provide me the format for this declaration and other suggestions to resolve this query

Thanx in advance

What is meaning of constitution of applicant while applying for ST registration in case of Proprietorship firm. What documents in its support are to be deposited

IT RETURN FOR A COMPANY (PVT LTD ) NOT FILED FOR AY 09-10 , 10-11 , 11-12 . SO IS THERE ANY WAY OUT TO CLAIM THE TDS REFUND AS THE COMPANY HAS A TDS

As we know that as per the Accounting Standard, an inventory is to be valued at cost or market value, whichever is lower.

Now let me explain my query with the help of an example.:

A trader deals in oil products. He purchases the oil from a manufacturer and sells it to consumers.
On purchase of oil from the manufacturer, he gets some litres of oil free on purchase of a specific quanti
ty. Out of his total purchases of 2,00,000 litres of oil, 50,000 litres was free.

On the other hand his sales figures are like this:
Out of total sales of 1,80,000 litres of oil the free sold was 25,000 litres.
The closing stock is 20,000 litres.
Out of this 20,000 litres, how much free stock is to be considered ?
The inflow of free stock is 50,000 litres and outflow is 25,000 litres. As per this condition the remaining free stock must be 25,000. But the overall closing stock is only 20,000 litres. How is the calculation made in this case ??