We have an agreement which speaks that they have commitment for x no's irrespective of whether X will be executed or not. We recognise Income when we get the booking of X and then x is delivered at a later date. Now the query is X should be recognised on booking or on the basis of delivery. AS-9 speaks that Income should be recognised on Delivery but it is very silent when we have commitment from the customer for monies received.

For a Pvt/Public company, should all its directors be Indian Resident or how many of them can be Non-Residents? Is there some speicific eligibility regarding residential status to be the Director of any Pvt or Public company?

A company pays salary to its staff and there is a component of Transport allowance of Rs 800 p.m. Other than that, it also pays daily conveyance for home to office(to & fro). Now, whether any of them attract FBT for employer or any of them will be taxable in hands of employee?

Whether the liability to deposit Advance tax is also applicable over salaried person? If yes, who will be liable to do so, whether the employer has to deduct TDS and deposit it or employee will be required to discharge the liability on his own in case employer is not able to do so? What if employee's salary was not enough in the beginning of financial yr that it will attradt Advance tax but subsequently increases after mid yr to raise his tax liability?

Dear all,

Please explain me on issue of shares with differential voting rights in all aspects.

since the form 17 has not been uploaded in NSDL site how can i pay tds and tcs eventhough i have received my UTN. Kindly advise in this matter

If an inter state purchase is made & CST is paid on it.
Subsequently purchaser sells that product intra (within) state, VAT will be applicable.
So whether deduction of CST will be available to that purchaser.

SUPPOSE I HAVE 2 JEWEELARY SET WHICH I PURCHASED ON DIIFERENT YEAR AND ALSO I SOLD THEM IN DIIFERENT DATE BUT OF THE SAME P.Y.
TO GET FULL EXEMTION US 54F I PUCHASED A RESIDENTIAL HOUSE WHOSE COST IS EQUAL TO THE FULL VALUE CONSIDERATION OF BOTH JEWELLARY SET, SO WILL I GOT EXEMPTION FOR THE JEWEELARY SETS OR IT WILL ATTRIBUTABLE TO A SINGLE JEWEELARY SET?

Dear Experts,

I have a query regarding goods sold by an unregistered dealer from one state to another state. The Unregistered dealer is situated in gujarat and making sales to a manufacturer in maharashtra. The goods sold are Raw Synthetic Fiber. Now upto what limit (in value) can the seller continue selling in this way. Is there any tax implication on the buyer of the goods i.e. to pay any purchase tax. Can the Buyer make payment through bank to the seller. Is there any TCS applicability on such transaction. What can be the consequences or penalties in case of delay in registration for and charging VAT/CST.

CHALLAN NO 17 TO BE FILED ELECTRONICALLY WHILE DEPOSITING TDS.WHEREAS TILL NOW THE CHALLAN IS NOT AVAILABLE ONLINE. TILL NOW I HAVE NOT RECEIVED UTN NO. HOW I FOUND IT FROM I TAX DEPT. WHETHER I HAVE TO FILE ANY PAPER AT I TAX DEPT FOR IT.PLS CLARIFY