A person was allotted a house by his employer at his work place for which his HRA was deducted.Apart from the above allotted house he owns 2 houses one at the place of work and other away from the place of work in some other city. Both are not let out. Can he show one house as self occupied for the purpose of computation of Income from house property or both the houses will be treated as deemed to be let out.

Our is a unlimited public company. we have authorised share capital of only Equity.
But now we want to have preference share capital also.

Auth. capital (Equity) is 10 cr.
Paid up (Equity) is 8.5 cr.
We want to reclassify 1.5 cr in Preference capital and further want to increase Preference share capital of Rs. 6 cr.
so please help me how to amend the MOA, how should I draft the MOA capital clause giving effect to both reclassification of existing capital and increase in authorised capital with preference share.
Further two form 5 has to be filed separately for reclassification and also for increase of capital.

if a machinery is purchased at the end of the year, can we take 50% credit of excise in that financial year and 50% in subsequent year?

Hi All,

I just wanted to know that what exactly is Venture Capital. And who can be a venture capitalist?
Can a Private Limited company invest in Venture Capital?

Thanks!

hello,

one of my client draws income from salary. he did not show some cash deposits done in bank from which he did business of futures and options. eventually he made a loss which he did not show in his tax return and thus such return was filed in salary ward within time limit as per sec 139. now due to AIR information, his cash deposits are caught by department and such undisclosed cash deposits are being added to his income. can he get set off of the loss made from share dealings from such undisclosed income even though the same is not shown in tax return?

From where should i get the latest edition of Advanced cost and management accounting-problems and solution by V.K.Saxena & C.D.Vashist.
Its not available in Cochin.
Pleas help.....

i want to ask if one invoice cotains expenses of two companies, one concern has debited whole amount, if we have to account in other concern its related expenses containing in that invoice...how should the entry be done?

Sir,
i have doubt on entry booking on imports and exports,

So please clarify,

1)on which date import purchases are to be booked in our books,
and which rate of exchange we have to use

2)on which date export purchases are to be booked in our books,and which rate of exchange we have to use to book entry in our books,

Please support your answer by giving some accounting-standard reference,or some circular on accounting import and exports

i am giving my opinion based of as9 risk rewards of ownerhip,
but he is expecting a circular like that for his reference,
for what date have to use for entry booking
what exchage rate have to take for that entry

Thanks for your time,,
awaiting for your reply

Normally while calculating salary income, if employee gives interest certificate, we can take a deduction of Rs. 1.5 lacs and then deduct his tax. My question is if employee is letting his house and is ready to show his rent income, then can an employer give interest deduction more than Rs. 1.5 lacs (bcoz if house is rented then there is no limit of Rs. 1.5 lacs).
please reply

Dear sir,

I am in receipt of a rawmaterial from outside goa. whihc is being sent by 4 different bills along with the bills i have recieved the bilties of the one single trasnporter. Now his total freight comes up to 130000/- is he eligible for TDS deduction? he has mentioned his pan no on the Bilties.

Kindly guide.

Thanking in advance