Dear Friends
According to para 5 of AS 11 , it is not applicable on cash flows
Now if we want to Convert foreghn Company Cash Flow from Foreghn currency to INR , what rates must be used for conversion
For example Closing , Opening or average

Hi

is it necessary to make a deed for formation of HUF. Further please provide if anyone having format of such Deed so that i can open my bank account and as a record it may be kept as Name of Karta and details of HUF Family Members etc.

Regards
Girijesh Srivastava

Sir,

Pls explain to me in details what is letter of credit and what is the role of it in export and import.

Hi

is it necessary to make a deed for formation of HUF. Further please provide if anyone having format of such Deed so that i can open my bank account and as a record it may be kept as Name of Karta and details of HUF Family Members etc.

Regards
Girijesh Srivastava

Hi all

I want to know how to handle questions on service tax when advance payments are made. When and what on amount is the service tax payable?

Regards
Pratyoosha

which is better sort of investment..is it investing in insurance or mutual fund.which helps to achieve more in terms of growth rate..
regards
kamal

Q 1. Whether Income can be recognised on provisional basis...?
Case: ABC Pvt. Ltd. is a mfg concern...& has giving loan to it's sister concern (a pvt. ltd. co.) during the FY.

ABC Pvt. Ltd. booked the Interest on such loan on provisional basis during the same FY......

Whether this Interest Income can be recognised on provisional basis...???

Q 2. In next Fin Year..due to financial crises, sister concern is not able to pay interest on such loan.....

ABC Ltd. want to written off that Interest which has been recognised in previous Fin Year.

Pls solve the above two queries with ref to section & case law....if any...

Regards,
CA Nitin

Dear Friends

We are into Karnataka Based Coporate Interior Company. Recently we have received a Interior Contract from SEZ in Chennai, Tamilnadu.
In relation to the above i want to know the following things

1.Whether this transaction is completely exempted from Karnataka VAT & Service Tax.
If Yes what are the forms that we need to obtain from our SEZ Client under Karnataka VAT i.e sales tax & Service Tax
Further whether i can claim Input Tax Credit on the purchases made by me in Karnataka?
Also whether i can claim Input Tax Credit on the purchases made by me in Tamilnadu

Regards
Ajith

Dear all,

I have to give form 16 to all our employees. Point 2 talks about exemptions under sec. 10, does it mean HRA exemption also? And also it does not talk about medical bills exemption? How do I take these into account? Please help me

I purchased an apartment in June 2005 by taking a home loan from ICICI Bank.

I started paying the Equated Monthly Installments from the very next month. The apartment will be ready for occupation next month (February 2006).

Can I get the benefit of House Rent Allowance till February 2006 and home loan (principle and interest) benefits during the financial year of April 2005 to March 2006?

Since the interest amount I'm paying towards the home loan is more than Rs 1, 50,000, can my wife (she is also working) get the income tax benefit on that excess amount?