What is meant by parking account? What role does it have in bank accounting?

A DIN form was created in feb, 2008. Due to non-availability of proofs, it could not be sent to DIN Cell. I want to know whether the same form can be sent now or a new form is to be used. The status of the form is still provisional as I checked it with MCA site. Please tell me what to do.

Can any boby explain me how to compute the deprication as per company Act

Hello Experts,

Pls guide me to the following:-

1. Can we provide depriciation to assets only for the number of days used (say put in to use in the middle of the year and put on hold after few month but before year end)is it legal according to Co., Law.

2. Is it possible to provide depreciation as mentioned above and also reduce on account of impairement of assets in the same financial year. (under Co. Law and IT)

3. if Possible Impairement on which value on WDV on Gross block.

Thanks in advance.

I work in rice industry where the movement of paddy/rice take place within the premise. We have hired the cotractors for doing that task. Monthly bill of the contractor is around 4L in a month. Whether service tax is applicable on this. Further another contractor is hired who is also involved in that kind of work plus supplying some labour in our prodution. Whether service tax is applicable on this as well?
Kindly answer this query. It would be better if you mention the section under the respective Act.

Thanks

Vinod Nautiyal

I have filed a return elctronically on 30 march, 2009. I want to know that ITR-V can be filed upto 13th april or 14th April.Plz ans as it is very urgent

TDS on hiring charges of Sound System will be covered under which section either 194I or 194C of Income tax Act.

Sir,

We have salvaged a mobile purchased in 2006-07. Purchase cost was Rs. 5449/- & salvage value is Rs. 500/-

How to treat the depreciation / loss / salvage value in both IT Act & Co's Act.

This is urgent.

Thanks

Subhash

Assessee filed return in which he was having loss in business. A.o.process return & turns into Business Profit.
A.O. Disallow some expenses. After disallowance of expenses, assessee business income is Nil due to brought forward of business loss. A.O. Levied penalty u/s 271(1)(c) for concealment & inaccurate of particulars. A.O. can levy penalty u/s 271(1)(c) even if assessee business taxable income is nil?