Some employees have resigned during the month of Feb-Mar, 09. Their final settlement will be done in the month of May,09. The books are closed in the month of 30th April.

How the TDS of the employee will be deducted? Will it be deducted in the next year when he was not the employee of the company and form 16 after the adjustment of FFS will be given in the next year taking only FFS amount payable? Further we can’t take in the previous year in which he has resigned because the PF amount will be determined only at the time of FFS

Is advance FBT paid is considered as an allowable expenses while calculating MAT, if yes let me know the notification

Thanks & Regards

Naveen

can any body tell me that which item ceck in share broking if it is pvt company

Under Section 44 of income tax act, how is the computation of income from insurance commission is done.

In first year.
for renewal income &
for bonus commission.

Please tell me in detail about International Financial Reporting Standards. Place and Corse fee. Has it started in Jaipur also?

What is mean by Small and medium companies and non small and medium companies.
SMC's and Non SMS's
as defined by company rules 2006 section 211
And why organisations are classified on the basis of SMS"s and Non SMC's concept and Level ,I-II-III concept .

Hello sir,

A company whose principal business is purcahse and renting of properties has not generated any income in this year. But the general office, legal, preliminary exps w/off are debited to P/L amounting to Rs. 66000/-

Now the company earns speculation income by way of commodity difference amt to Rs.56000/- and interest on loan of Rs. 15000/-.

Which is the correct option:
1.Take the deduction of all expenses from speculation income,then speculation loss will be (66000-56000)10000/- which cannot be st off against int. on loan. Hence Total income - 15000
2.Show the loss from business as Rs.66000/- which could be set off with int on loan and Rs.56000 as speculation income. Total income-5000

Regards,
Jyoti Baid

Hello sir,

A company whose principal business is purcahse and renting of properties has not generated any income in this year. But the general office, legal, preliminary exps w/off are debited to P/L amounting to Rs. 66000/-

Now the company earns speculation income by way of commodity difference amt to Rs.56000/- and interest on loan of Rs. 15000/-.

Which is the correct option:
1.Take the deduction of all expenses from speculation income,then loss from speculation loss will be (66000-56000)10000/- which cannot be st off against int. on loan.
2.Show the loss from business as Rs.66000/- which could be set off with int on loan and Rs.56000 as speculation income.

Regards,
Jyoti Baid

Dear Sir/Madam

Please prescribe the treatment for the debit balances in directors account who are also the shareholders of the company.


Thanks & Regards
CA Sayeeda Banu

I have deducted TDS on a contract and have deposited the same. But after 6 months I came to know that the contract has not been materialized and the party has refunded me the money which is actually paid him.

But I have deposited the tax in his name; he is not willing to refund me the same as the income does not accrue to him.

How can I claim this refund with the Income Tax Department?