Dear All

If one person is getting Brokerage of Rs. 32 Lacs in his proprietorship name and Salary of Rs 18 Lacs and Interest of Rs 8 lacs in his individual name out of his personal FDRS then should he get his accounts audited under section 44AB ? will he be coming under Tax Audit ?

Thanks and regards

Tarun Jain

Our client has run a educational institute under a Public Trust under non profit basis. However those are liable to pay the service tax to its service providers.

Dear all
Can anybody provide me with a model copy of rules and regulations to be followed by employees and articles of a CA Firm.

CA Anand Mutha
anandmutha@gmail.com

A,B and C are three members of a(HUF).They also are the partners of ABC&Company,partnership firm X(HUF)deposits Rs 90,000 in ABC&company(interest rate being 15%). On April 1,2008 there is a partial partition of HUF and thereafter Rs 90,000 is divided among the partners equally.That is form 1.4.2008,deposit of Rs 90,000 is transferred in the individual names of A,B, and C and the Firm pays interest on deposit to the individual partners.Is Section 40(b) is attracted in the above subject matter.

Pls give me Advice regarding this..

GIRISH

Dear Sir,
The Sec 599 of the companies act does not specify any limit for the penalty amount to be paid in case of default in filing the accounts,
but in the ROC's fee calculator the penalty for default does not exceed 1 lakh.
So is 1 lakh the maximum penalty amount? if So, which Act prescribes it?
Please help.....

Whether TDS needs to be deducted u/s 195 of the Act when a Company which is in SEZ is making pymt to foreign service providers?

Company has increased it authorised capital in the board meeting held on 25th March 2009, which resulted in liability of Rs. 50000/- being ROC charges and Stamp duty. General body meeting was held on 11th May 2009 and proposal of increase in authorised capital was pproved.Payment of or Rs. 50000/- was paid on 16th May 2009.
How would one treat Rs. 50000/-?
Should it be booked as outstanding preliminary expenditure for the year F.Y. 2008-09 or book as an preliminary expenditure in the year of payment i.e. F.Y.2009-10?
Any reference to case laws would be higly appreciated

I found that return can be efiled.but need to be forward to BANGLORE IT office ONLY.

& its mentioned that it can not be via courior or regitered post.
it can be send only via simple upc post.

but even though the circular saying the same,in Ahmedabad branch IT officers are still demanding efile return hard copy at their end and also saying that we should also send the second copy within 30days to BANGLORE IT office.

What is purely legal?and what to do?

I have a query regarding Recognistion Revenue and Exchange Rate to be taken in case of Export sale or Import.

1. What is Exchange Rate to be taken in case of Export sales i.e whether RBI Exchange Rate or Customs Exchange Rate for Recognising revenue ?

2. Whether two exchange rates can be followed I.e RBI and Customs

3.While recognising revenue customs rate is taken and when actual payment is received RBI Rate is taken. Is this correct method.?

Please suggest me the correct way of the representing the transaction.

Any payment above 20000 otherwise than account payee cheque or demand draft is disallowed. now if any expense payment made by partner on the behalf of the firm above 20000 and entry passed in the books
Expense a/c dr
to Partners Capital
Is it disallowed.