chetan
19 February 2009 at 17:30

income tax

if we are doing business of purchasing IInd hand machinery and suppliers gave bill which have all the information wrong and we are not know this.
than in this case can we show this as an expenditure and there is liability related to us?


jaspal
19 February 2009 at 17:13

Name on FD Slip VS Name in A/c


If on Fixed deposit slip i have mentioned Jaspal Singh Mehndiratta

And my bank account is in the name of Jaspal Singh

Legally can FD be issued ?
Under what name ?
Any RBI annexure/guideline supporting your reply.

JS
(MBA + 2nd. yr. LLB )


Rekha
19 February 2009 at 17:03

CST

In manufacturing of fabric company,they purchased furniture to the extent of full amount including CST @12.5(according to MVAT)whether it is claimable.

How they should shown in accounts book regarding assets and CST??...kindly help me..sir

kindly tell me how to do audit in EJV?....


Sandeep Singh
19 February 2009 at 16:52

Interest on unsecured loan

Is it mandatory to give interest on unsecured loan. If not what query income tax department can rain above the amount of unsecured standing in books.


Rekha
19 February 2009 at 16:28

Freight inwards

Dear sir,
i need a clarification that,what is the accounting treatment about freight inwards.If i m showing seperate from my purchase,whether
my valuation of closing stock will reveal correct amount.I heard that freight charges should not show separately.if doing so,it will not reveal correct value of closing stock.The company is using Tally software.They made purchase as purchase a/c and freight as direct expenses.

kindly help me


Satish K Sekhar.ACCA
19 February 2009 at 15:45

Rate difference in foriegn transactions

We import materials (a one off transaction for eg.)with rate of goods sttled on the basis of LME of a period subsequent to the receipt of goods, where we have to make a payment based on the invoiced being recieved by us along with the goods.

When the settlement is done subsequent to the payment, there would be normally difference to paid to the supplier or to be recovered from the supplier.

How these transactions are legally allowed to be handled


Gajendra Metawala

I had applied for IEC code in responce to which I got following deficiency letter:
RBI Declaration / Approval for foreing director is not given.
Please tell me from where this cna be obtained ?
Is there any prescibed form in whihc we have to apply ?
What information is required to be furnished and to which authority / Office ?
Your early response will be highly appreciated since I have to submit the same before 25th Feb,2009.
Thank You,

Gajendra Metawala
Cell No 9004034545
email ID : gajenm@rediffmail.com


dhiraj
19 February 2009 at 14:52

Regarding Labour Act

Dear All
My Company is advertsing Company , we are providing services . No of Employee is 18 ,
I want to know is labour ACt Is applicable ?


Amit Dubey
19 February 2009 at 14:51

TDS sec 194 B

Under scratch & win scheme,
We are distributing scratch cards to pasengers of flight. Passenger can get the wining gift after paying Rs 500 irrespective of value of gift,value of gift may more than Rs 500 or less than Rs 500 (for example passenger can win bag, wrist watch camera or hero honda bike)

We are a trading company & have all products in our stock for normal trading except Hero Honda bike

Now query is:
1.Whether we have to deposit TDS U/s 194 B for gifting Hero Honda bike

2. whether we have to deposit TDS on products which cost more than Rs 5000

Please reply


hemal
19 February 2009 at 14:37

Minimum Salary

Is it compulsory minimum salary of Rs3500 in the case of public ltd. company for every employee.





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