IF WE ARE PAID ROYALTY TO PARTY AND WE ARE NOT HAVING PARTY ACCOUNT BECAUSE OF HE IS NOT GIVE US THE BILL WE ARE DIRECTLY MADE PAYMENT . SUPPOSE HE IS CROSS THE LIMITE THANE WE ARE DED. A TDS SO HOW WE ARE ACCOUNTED.

Respected Sir,
Whether i can appear in Nov/Dec-2009 PCC Examination
So,Herewith I Furnished details regarding My articleship
Reg No:PCC/SRO/0243837
Date of Joining Articleship:12-06-2008


Pleease,give your advice Sir,
Thannking You,
Yours Sencierly,
Veerendra

The assessee an exporter had entered into a Forward Contract for hedging the risks associated with Foreign Currency Fluctuations.
However, due to depreciation of Rupee, the Assessee had to cancel the Forward Contract. The Bank Debited the Assessee for Difference in Exchange rate prevailing on cancellation date and Contracted rate.
Whether loss that assessee had to bear due to such cancellation is allowable under the Income Tax Act??

Can anybody clarify whether a receipt / payment above Rs. 20000 is admissible for a corporate entity (ltd. Company) in context to income tax act.

IS IT POSSIBLE FOR A NRI TO ENTER INTO PARTNERSHIP WITH A RESIDENT, IN INDIA. IS ANY SPECIAL PERMISSION FROM RBI REQUIRED FOR THAT IF SO WHAT R THEY
PLS...... ANS........

Assessee is engaged on the business of renting of room sales for Guest in Delhi and registed under sales tax.The same room was taken on lease rent basis.The landlord charged @Rs.4,25,000 p.m.as per agreement. The landlord is individual and not registered under service tax.Now, no bill/invoice is raised by the Landlord.The assessee company booked lease rent expenses in the books of account as per agreement.

My question is whether the service tax liability is goes upon the landlord or not.

Second question is if the landlord is not registered under service tax then the liability of service tax can be arosen to assessee company.Is company is eligible for input service tax credit?

Dear ALL,

As per Sec 2(22) (e), if a laon/advance is given to a director/s is given in case of Loss, it is taxable dividend in the hand of the Director/TDS to be deducted. Again accumulated profit means only profit or vice versa also.
Plz answer with all treatment in the Books, taxation etc.
Regards
Nagendra Prasad Gupta
ACA509615

what is meant by service tax abatement.

"Declaration of further dividend for the second time out the past year's profit is illegal & ultra vires of the articles of association and the Companies Act,1956"
IS IT TRUE?
And if yes then
What about interim dividend?? can interim dividend be declared out of the profits of the previous years????

Plz tell about treatment of revaluation reserve, & uses of it