We are purchasing one machine. We will open deffered LC for the same. Machine will come in single shipment. However partial shipment is allowed so that if any part remin can be shipeed later.
Now can we put clause in LC that we will pay 10% after 30 days of bill of lading. Balance 90% will be paid in 3 equal instalment at yearly intervals. Is such instalment clause is possible in LC. Any RBI approval required?

pls give entry for following case.

a employee was hires for gross salary of Rs 10,000 p.m. Basic salary Rs 10,000 employer share to PF 12%, employees share 12%.

Reverse charge mechanism of Service tax on Security Exp - is there any cut off amount say upto 75k it's not applicable or nothing lik that? also Tds need to be deducted on gross or gross + 25% of ST?

Dear Sir

I have paid stamp duty and registration charges of around 10000 for transferring the old house and 15 cents of land to my ownership by my father during 2012-13 FY. We demolished the old home and constructed new house during the period and will complete before 31st march of this year. Can I claim the stamp duty and registration charges u/s 80C for AY 2013-14.

A widwo of police man officer received a sum of rs. 8.50 lacs as a pension of last 6-7 year. that the amount she received is taxable or not?. if not so plz tell the sec under which this amount is exempt.? and if late police officer not file any return in that case what is the taxable amount in the hand of spous.?

One of our client has incorporated pvt ltd in 20.02.2013.
What is the due date filing of IT Return?

Should Annual report be audited by an Auditor before filing Return of income ?

Is it possible file the return of income Without adopting the audited accounts in First AGM ( Because They have 18 Months time to hold the First AGM)?

Thanks in Advance

can you tell me the process for claiming rebate under rule 18

whether this amount is directly credited to bank account or receive a cheque

Dear Sir,

How to prepare CMA data

which entry is correct and y?


1.) P&L a/c ...........dr
TO Prov for D/D

OR


1.) Prov for D/D a/c..........dr
To debtors
and
2.) P/L a/c...................dr
To Prov for D/D

While doing Articleship i filled 102,103,112 form in 112 form i mentioned CS and in 103 mentioned B.com awaiting form IGNOU.
so can i do because IGNOU is affilated form ICAI.