DEAR SIR/S

I HAVE AN DOUBT REG.THE FOLLOWING KINDLY CLARIFY THE SAME:

IF A VEHICLE PURCHASED FOR 5 LAKHS(ASSUMED) AND GONE FOR FINANCE FOR 5 LAKHS AND 2 LAKHS INT.FOR 36 MONTHS. WHILE PASSING THE ENTRY SHALL I CAPTLAISED THE INTERST TO VEHICLE ACCOUNT ? i.e VEHICLE A/C DR 7.00LAKHS TO FINANCE COMPANY A/C 7.00LAKHS THEN ,AS PER THE ABOVE ENTRY IAM ELIGIBEL TO CLAIM DEPRECIATION ON 7.00LAKHS ISNT NOT?

OR SHALL I SEPARATE THE INT.PART?AND TO CLAIM FIN.CHGS. FOR 12 MONTHS .

PL.CLARIFY

THANKS & REGARDS

PRABHAKAR.

DEAR SIR/S,

IF A PARTY GAVE ONE CHQ.FOR RS.100000 AND DEPOSITED IN BANK AND BOUNCED. WHILE PASSING THE ENTRIES RECIPT OF CHQ. IS BANK A/C DEBIT & PARTY A/C CREDITED.

WHILE CHQ.BOUNCED SHALL I PASS THE PAYMENT ENTRY OR JOURNAL VOUCHER AND HOW TO PASS.

KINDLY CLARIFY

THANKS®ARDS

PRABHAKAR

Can anyone tell me the changes that have taken place in forms 3ca/3cb/3cd after recent budget........

is there any circular/ notification in the matter that, where a survey u/s.133A has been conducted & the income disclosed thereat is more than the income of preceeding year, than such assessee can not be taken up for scrutiny???

if yes, where can i find that notification/ circular?

thanks

Sir,
I would like to know the latest provisions of section 40A(3)rule6DD and i also want to know that there is any limit of disallowance of revenue expenses say Rs.50,000, please reply me immediately

with best regards
Pardeep Tyagi

Usually we calculate the Income from Business & Orofessio by making adjustments in the net profit by additions or deletions. However we can also compute the same income by considering only business income & expenses. Answer by both the methods is ought to be the same. The latter method is known as "Gross Profit Method".

My query to all the members is that whether such method of calculation is valid for CA exams? Logically no marks should be deducted for it. However i would require the opinion of the members.

Can any one let me know which coaching class to opt ofr CA final exams. Whether it is advisable to go for personal coaching or Join classes.

Hey Friends
If You Want To Get free SMS news service of ICAI And CA Related, Then Join my Group by sending SMS JOIN ICAI_News_4U to 567678. Joining are free. No fees or other charges.

By Joining You Will Get All Announcement, Notification, Press Release, Regular Publication & E-Journal information regarding Result, Examination, Tips, Tricks For Articals & training,
And Lots Of More Information Free Of Cost,

So Just SMS JOIN ICAI_News_4U to 567678
Its 101% secure and safe.
And Stay Update With ICAI News

Thanx,

Regards
Rahul
Owner of Group(ICAI_News_4U)

Hi Experts,

Suppose Mr. ABC is a student,, but he left his studies two years before in 2006, since 2006 he is not doing anything. But in meanwhile in 2009 he got brokerage of Rs.5,00,000/- on sale of land in pune in year 2008.

Prior to this he does not have any taxable income from any source. The other party who paid commission of Rs.5,00,000 deducted TDS @ 10.30 on this commission.

My question is : Is Mr.ABC is required to file ITR for FY 2009-10 ?
2) Under which head he can file the return.
3) As basic exemption limit is Rs.160000 for FY 09-10, can he claim refund of excess TDS deducted

Note : Mr ABC does not have any shop act license or registered business.


THANKS SIR, BUT UNDER WHICH HEAD HE HAS TO FILE HIS RETURN.
Note : Mr ABC does not have any shop act license or registered business

can anybody tell me how to buy the preference shares of a company and the debentures the whole process and the shares that are listed are the equityshares of a company right?