Hi,

If a company purchases a new vehicle say a car for total cost of Rs 400000 which includes Rs 15000 as 1st yr dep also, then shd the co. capitalize full 400000 in books or it shd capitalize only 390000 and expense off the insurance amt of Rs 10000?

PArty had issued cheques of Rs3.0 lacs to me, which got bounced due to insufficiency of funds in party's a/c.

As per court order I have been paid Rs 4 lacs 3 lacs towards orignal amount due+ 1.00 lacs as additional compensation.


Is additional amount of Rs 1.00 recd towards compensation be taxable in my hands

Regards

Hi,
i have paid TDS of APril-09 in wrong section i.e. insteade of 94c i have paid in 94a. pls guide me how to correct the same. my mail id is mukesh414@yahoo.co.in
regards,
mukesh shah

I have received a printers bill on which vendors charge VAT , I think it is a contract for sale not work contract.But in my ofice some one in head office have different opnion as per his view TDS should be dectible. I have read case law where bombay high court give there opnion that it is contract for sale not work contract hence TDS shold not be decutible.
Please advice and if you have some case law on the subject please give me the refernce.

sir i m in finalization of public limited company, i would like to request you to give me some detail note & guidance for provision on debts & creditors.
Plz it's urgent.

hi,
1. Please tell me what is the period for which a Statutory Auditor or a CA can be appointed by a company is it according to financial year or any time?

2. What if the company wants to discontinue with the Statutory Auditor does the company need to pre inform the auditor what is the time the changes can be done & how ?
What are the things to be taken care of ...?

Please reply as soon as possible.

Thanks & Regards
Ami

Is service tax applicable for Advertising agencies. they shouls apply service tax.what if they provide recuritment service also. is there any limit of the same.

Respected Sir,

Please give the whether the service tax on payment of freight to road transport is applicable in case of traders or not

regards

Vishal

Sir,

Please slove this query.


Sumit Electronic is considering a proposal to replace one of its machine. In this regard, the following information is available.

The existing machine was brought 3 years ago for Rs. 10 yrs. Lacs. It was depreciated at 25 percent p.a. on reducing balance basis. It has remaining useful life of 5 years, but its annual maintenance cost is expected to increase by Rs. 50000.00 from the sixth year of its installation. Its present realisable value is 6 lac. The company has several machines, having 25 percent depreciation. The new machine cost Rs. 15 lac and is subject to the same rate of depreciation. On the sale after 5 yrs, it is expected to net Rs. 6 lacs. With the new machine, the annual operating cost (excluding deprecation) are expected to decrease by Rs. 1 Lac. In addition, the new machine would increase productivity on account of which net revenues would increase by 1 – 5 lac. annually.

The tax rate applicable to the firm is 35% and the cost of capital 10%. Is the proposal financially viable? Advise on the basis of NPV of the proposal.

Hi, What is the treatment under Income Tax Act, 1961 for Income on daily trading in Stock Market? Is it to be considered as Income from speculative business? Also, what would be the treatment of STT paid on stock market transactions?

Thanks in advance