Section 145 of the Income Tax Act clarifies on the seperate disclosure of prior period items but doesnot specifically disallow it.

Is there no section that specially disallow prior period item? Please clarify on this matter

Sir,

We a residential school organisation have not filed any return in the present year 2008-2009. But we have deposit VAT on sale of materials to the students. Also we have not taken any credit against vat payable (materials purchased like......uniforms, stationaries, edibles etc.)My query is ...

1. Wether we can adjust the full VAT recoverable from 01.04.2008 tilldate while paying the VAT for the month of March 2009 ?

2. Now that we have not filed any return, what is the procedure to file the return in the last qtr...if this being the first return filed ?

is the process of packing of goods form part of goods?
is packing of goods considered to be a part of manufacturing of goods?
does process of manufacturing of goods fall under the definition of goods?

Dear Experts,

Guide me how to print the Balance confirmation letter from Tally.

Generally companies are providing food vouhers (Sodexho) to their employees. The coupens are said to be non transferable.
But it seems that anybody can use the vouchers.
So in this case how do we interprete the transferability of the vouchers?? Shouldn't these vouchers be taxable to FBT??

what is tratement of custom duty receivable .
whether income should be booked in p & l a/c or not?

Amt.paid for consumable debited to repair & maintenence account? Can VAT credit be taken or head is req. to be changed frm repair & main. to consumable.

Hi there,

I have one query regarding MAT calculation for software company registered with STPI. We have 100% export. We bought an office worth 70 lac & computer worth 5 lac. If we have Book profit ( before tax & depreciation) of Rs. 15 Lac. Depreciation on office is Rs 7.0 lac & 2.3 lac for computers. The net profit after depreciation comes out to be 5.7 lac. Now pls. let me know.. how MAT will be applicable? WIll it be 10% of 5.7 Lac (profit after depreciation) or 10% of 15.oc lac (Book profit before tax & depreciation)..? I am tottaly confused

Dear Sirs,
i would like to know if i paid tds challan under non company deductees including company deductees so that when i fill return can i mention them separately or not?

We have printed 700 invitation cards and vendor Raised a bill for Rs, 65000 (exclusive of taxes). in this case we have deduct the TDS as per Govt. Norms or not.