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)

dear sir,

i just want to know that how many methods are there to calculate depreciation

While valuing goodwill on the basis of net assets method proposed dividend & non trade investments is not taken into consideration. Then why is taken in the case of valuation of shares?
Also, while computing Future Maintanable Profits proposed dividend or dividend paid is added back to the profit. Why? And income from non trade investments is deducted. why? I understand that this is the method but could you please tell me the basis behind for better understanding.

URGENT

hi! where can i find the list of excise duty rate (Past as well as curent rates)applicaple on various fmcg goods like hair ol, shampoo, soaps, honey, toothpaste, etc. or can some1 tell me the details of the rates applicable? Also what are the exemptions available to such goods?

freight of Raw material capitalise in Raw material....and the freight amount is not gone to purchase register....T.D.S is corrctly deducted
now the valuation of closing stock is included the freight Amt.....
whether this treatment is right???

can somone suggest me that the study material send by the ICAI for PCC sufficient or extra study material is needed to be studied if yes ? PLEASE SUGGEST ME AUTHORS AND PUBLISHERS FOR FOLLOWING SUBJECTS :
ADVANCED ACCOUNTING
AUDITING & assurance
Law & Etchics