It has not yet been decided by the Council of the Institute regarding the exams of May 2009, whether to conduct in May or June.. An announcement was posted on ICAI.org today to clarify this issue, but still the confirmation has not yet been disclosed..? Does any one knows what was the true position to postpone the exam from may to June?Can anyone help me in this regard?

I am making a regular payment(without any obligation) of Rs. 50,000.00 per annum to my mother. She deposits the money in fixed deposits in bank. Can the AO treat the intrests that is earned on these fixed deposits as my income instead of my mother's. Is there any provision in law regarding the same?Pls guide.

For a Group Medical Policy taken by the Company, if the individual employee makes an additional premium for inclusion of his/her parents,

Is the additional premium paid by the employee to the group policy allowed as deduction under section 80D for that indivual employee?

It will be great if someone answers this query at the earliest.

Thank you,

Hi CAs,

Query:

Whether Cenvat credit will be available on input and input services of EPC contracts for constructing Pipelines for Natural Gas?

EPC means Engineering,Procurement and commisioning.So,it includes both Material and Labour. So it includes Excise and service Tax both.

The assessee is service provider dealing in transportation of Gas on which Service Tax in payable.

U may send ur reply on ca.jigneshmaniyar@gmail.com

Thanks in Advance

For the purposes of section 211(1) of the companies Act , I need to know the guidelines of ICAI as to what is "interest due in case of bank interest on secured loans or working capital loans." I am told that it is available in ICAI Compendium of Opinion, Vol 1 Second edition 1984 Reprint page 12.

I need it rather urgently and badly ! Help !!

HEY

TELL ME THE DETAILED PROCEDURE TO FILE A RENEWAL OF MY DIGITAL SIGNATURE CERTIFICATE. IT IS VERY URGENT.

What is mean by embedded Derivatives? Please clarify in simple terms.

Sir,
whether CARO IS APPLICABLE TO BRANCH AUDIT

What is mean by Hedging? Please clarify in simple terms.

An AO disallowed payments not made for service tax and VAT which were actually not paid before the filing of the return u/s 139 of the Act.The AO made addition to the same as they were mentioned in the audit report as payments not paid.The AO imposed penalty u/s 271(1)(c)as concealment though it has been held in the case of Akshay Enterprises (P) Ltd. vs. ACIT – (2007) 161 Taxman 168 (Amritsar)that- that as material facts necessary for dis allowance were duly disclosed in audit report filed with Return of Income,the assessee’s contention was being genuine, bonafide and innocent mistake was accepted, and that penalty cannot be imposed, as there was no malafide intentions on the part of assessee to conceal income.
My Queries are
1) Should we go for appeal against the assessment order u/s 143(3)or will that consitute as genuine bonafide mistake not accepted.
2) If we don't go for appeal against the assessment order u/s 143(3)as it may go against us as not accepting the bonafide mistake. Will we be able to go against the order of penalty u/s 271(1)(c) only claiming our mistake as bonafide so that no penalty can be imposed of concealment as all the facts were clearly stated in the audit report.