wheather TDS should be deducted on co-op-society( regd) if i m paying Rent above 120000/- p.a.

Dear Friend,

I want some material / presentation / note / link, etc on FIFO method valuation of raw material (& other inventories) v/s Weighted Average method of raw material (& other inventories)

I will require its comparision, benefit, disadvantages of each other, etc...

Please mail me at: deepak.agrawal2008@yahoo.co.uk or reply me thru private message in CAclubindia.com

if advance salary is given to one employee and afterwards that employee is appointed as director of the company then whether such advance given earlier is covered as deemed dividend u/s 2(22)(e)?

Dear Sir,

Can you tell me that in Balance Sheet where we can put the Software Development in Assets, I t would be in Fixed Assets of in Current Assets.Please let me know as soon as possible.

Thanks

Rajesh Shukla

In case of a company, company director paid advertisement charges Rs.30,000/- through his credit/debit card.

now,company will re-imbrsed advertisement charges to director paid by through his card

then,

a)Co. can reimbursed full amount of
Rs.30,000/- ???? or
b)Co.can re-imbursed,after deduction of
TDS ?????

In case of TDS will deductable,

then

a)co.will liable to remiting this amount ?/
b)collecting from party ??/
c)debiting to director imprest
account ????

kindly let me know:

1.Under which section of income tax act books of accounts needs to be preserved by a company???

2.For How many years..???

Kindly reply ASAP.

I made a mistake in filling my online placement form.... instead of writing my experience during my articleship period by mistake i have mentioned it as my industrial trainning.

Now what can i do. Can i correct this mistake?

please guide me.

Dear Professionals

According to section 299 every director is required to disclose his nature of interest in a contract entered into or to be entered into by or on behalf of company.

But Sub section 6 of said second says that whenever there is a contract or arrangement between 2 companies, section 299 will not be applicable if holding of one Director or combined holding of more than one director does not exceed 2% in other company.

Query:

If A, B, C are the Directors of the public company and individual holding of A,B &C in another public company is less than 2% but combined holding of A,B, & C exceeds the limit of 2%.

Then in that case disclosure is required under sec 299 (6) by all the three drs A,B,C.

& Section 300 restricts the interested director to vote if they are interested.

Are all drs A,B,C restricted to vote acc. to section 300 even if individual holding is less than 2%.

Whereas Section 300(2)(d)(ii) says that section 300 will not be applicable if the director is holding is not more than 2% shares in other company. Is this section talks abt the individual holding of director.

Thanks & regards
Deepika Bhardwaj

A person is a director in twoPrivate limited companies say X & Y. The director has given loan to X company as per provisions of section 269ss.

Due to liquidity crunch the x company is not in position to repay the loan. repay.

Now the o/s loan of of directorin X company is proposed to be taken over by Y company.Since Y company has liquidity the same shall be repaid by y comapny through a/c payee cheque to director.

Will this type of transaction tantamounts to contravention provsion of section 269ss & 269T of income tax.if yes what are the penalty provisions. If this route is not permissible please suggest some alternative method.

Regards

Sir,
Is service tax exemption available for website development service? For domestic and export service. (F.Y.2007-08 and 2008-09)