Sir,

Can we accept unlimited cash towards supply of material ?

Will it be harmful under Income Tax Law ?

Will it be taxed ?

Is there any case law for this, if yes than send me.

Hasmukh Patel

SIR/MADAM

MR. X LIC AGENT EARNS COMMISSION INCOME OF RS 40000/- IN THE F.Y 2007-2008 . AND IN F.Y 2008-2009 HE EARNS RS 50000/-. NO DETAILS OF EXPENDITURE INCURRED IS MAINTATINED CAN HE CLAIM ADHOC EXPENDITURE ?? OR I HAVE READ THAT HE CAN CLAIM 50% OF THE INCOME IF INCOME IS WITHIN 75000/-RS??. CAN U PLZ EXPLAIN IN DETAIL THE AMOUNT OF TAXABLE INCOME OUT OF SUCH INCOME IN BOTH THE YEARS SEPERATELY??

Can first stage dealer issue invoice inclusive of excise instead of mentioning it separately?

can other sources income be Negative

Exp.

Loss from Comodites- 550000
Interest - 95000
Net Income (455000)

am my Calculation Is correct or wrong . my senior want to show Comodies Loss as Other Sources


Please Tell soon...

my clint a commission agent was drawn cash of Rs.3 lacs from bank and it was stolen while bringing to shop.he lodged compalint with police.whether same can be climed as business expenses u/s 28

Could you please tell the the procedure of registering chit company with the registrar of chit, after it is incorporate with the ROC. The company is in Bangalore.

Please answer the query to spurthykn@yahoo.co.in

CAN WE VERIFY PERSON'S NAME THROUGH ANY WEBSITE,IF WE ARE HAVING PAN OF ANY PERSON?

Recently I posted a news (Recognition to ICAI for Sec. 35(1)(iii) of I.Tax Act) on caclub india, which after moderation was also displayed on the site. However my points tally still remain same as it was prior to submission of news. As per the points table, I can earn 25 points for submitting news. Can u pls tell me why I have not received 25 points for my submissions.

I finished MBA doing job in the field of core finance. is it possible to do CA inter simultaniously by doing job??

Is there any provision in the service tax rule to file ST-3 through post because the service tax inspector is asking for invoice wise details of the CENVAT credit claimed?

If answer to the above question is yes what about the acknowledgement.

Regards