If we have to follow only mercantile system of accounting then why do we mention in notes to accounts and in 3CD report that the compamy follows 'mercantile system'

I am offlet being observing that G shekar book is recommended for ca final direct tax subject. Would anyone suggest is that a good book to refer to , I have always being referring Manoharan.

Limit of Turnover is 40 lakhs for tax audit. How the same is calculated in case of share/Mutual Fund trading?

Can anyone tell me the preference of chapter for direct tax ? i will be appearing for my second group this jun09

Who can adept cash or Mercantile system of accounting ?

What is the major difference in cash and mercanile system of accounting ?

Can a company follow cash accounting system ?

please also tell when it can follow cash accounting and mercantile system of accounting ?

Who can adept cash or Mercantile system of accounting ?

What is the major difference in cash and mercanile system of accounting ?

Can a company follow cash accounting system ?

please also tell when it can follow cash accounting and mercantile system of accounting ?

Myself and my wife, both are working, have applied for a housing loan with LIC. The property will be in joint name. Who can claim deduction under Income Tax Act for the interest and principle repayment of the loan. Please advice.

An assesse who has failed to filed ROI for the Assessment Years 06-07, 07-08,& 08-09 can again file the same in A.Y.09-10?

Also if the income of such person in all above mentioned A.years is below the taxable limit then whether he should liable to file return of respective assessment years?

Dear Sir,
If i have provided a service on 24th Feb (a day before the ammendement in the rates) wat will be the rate of service tax on such service and within how much period should i raise the invoice... Pls provide me the relevant sections for the same

SEC.194I TDS AND SERVICE TAX CHARGED ON RENT
FOR E.G. 100000 RENT PLUS 12.36% S.TAX I.E.12360 AND 112360 SO TDS MUST BE CHARGED ON 1 LAKH OR ON 112360? AND WHY?
EXPLAIN LOGICALLY?

PLEASE CLARIFY?