My friend is running a soleproprietorship concern for the past4 yrs. he has availed OD for the business purpose & housing loan for his aquiring a house. The interest on OD is debited to p&l account under finance charges & interest paid on housing loan Rs. 10lacs is debited to his capital account. Now he wants to reverse the interest portion debited to capital a/c by debiting/capitalizing house building. Is this correct treatment,Also is this int considered as cost of acquisition at the time of transfer of Building

If a service provider does not claim service tax in the bill raised to service receipnt as per requirement of Rule 4A of Service Tax Rules 1994, and after two year he ask the service Receipnt to make the payment of Service Tax and earlier it was could not claimed due to mistake/ oversight.
Is service Receipnt liable to pay the Service Tax now while the Service was provided two year back.or he can refuse to make the payment of service tax now saying that as to why the service Tax was not claimed alongwith the value of service as per the requirement of Rule 4A of Service Tax rules1994.

A limited co. incorporated one year ago. now it wants to take over the running business of a partnership firm in which two directors are the partners(total no. of partners are three). what is the procesure of take over

Hi All,

If a Company is a Section 10B Company (STPI Comapny) covered under MAT Section i.e. Sec 115JB, liable to Pay Tax @ 10.30% on it's Profits.
At what Rate should the Calculation of Interest u/s 234 C be done for Qualifying Amount on which Interest is to be Calculated.
For e.g. If Advance Tax Paid on or before June 15 is less Than 12% of (Tax on Total Income Declared in Return of Income Less Tax Deducted At Source)----Amount on which Interest is Payable is = 15%(Tax on Total Income Declared in Return of Income Less TDS Deducted Less Advance Tax Paid till June 15)
Now, for calculation Tax on Total Income Declared in Return Of Income -- Rate should Be Normal 30.90% or MAT Rate 10.30%?

Please advice.

Thanks
Mohit

Hello Experts,

As per changes of new Budget 2009, no tds is required to deduct for payment made to Transporters who provides PAN No. This is to be effective with 01.10.2009.

Can somebody clarify me on this??

Thanks in advance.

Regards'

Yatesh Renuke.

I have been filling the Registration form of ICAI placements.
But In during filling form light is gone(Light Chali gayi)and form is not complete

can i again fill the form
pls reply

Hi,

I do not know why this campaign is being made, but, I heard in recent days many times that, the CA course structure has changed now, regarding passing method.I have been very extensively hearing that, "it is enough if any student passes any one paper in CA examinations and the remaining papers can be cleared in subsequent exams and no need to pass all the papers at a time, just like any other course, where back log can be cleared later on." Don't know who had started this type of campaign.
I am very much concerned about this, where the students might be mislead due to this kind of news. I heard that, even some new students have joined in the course (CPT) based on this notation.

I believe that the CA coaching institutes are misleading the students in such a way.

Is there any such change really adopted by ICAI??

I am a PCC student and 'm very much interested in specialising in Forensic auditing.Could anyone pls let me kno how i should go about it?

Regards

can some 1 suggest me whether i shud by super scanner or compiler for preparing IPCC...
also which publisher's Scanner is the best...
ple reply...thanx in advance

If an individual working in a capacity of consulting professional who is liable to deduct tds. what is the rate of TDS he should deduct from tour operator ??

Whether he will deduct tds on whole amount of commission including air fare or only on amount of commission charged by the tour operator ??