MVAT Audit is mandatory if T.O of sales or purchases exceeds Rs. 40 lacs.

While calculating T.O. Sales, whether Labour charges earned would form part of T.O. of Sales for determining audit applicability?

Sale of goods Rs. 30 lacs
Labour charges earned Rs. 15 lacs

purchases of goods Rs. 20 lacs

Whether MVAT Audit applicable?

Can i treat I - Phone as a computer device and put it in the block of computer to charge higher rate of depreciation on it...

Individual person is receiving professional fees. on such amount TDS is deducted.

Can such individual person can take Car/bike loan from such income and can claim deduction in form of interest & claim deprecaition in books of account.

or
can take home loan and claim interest & depreciation deduction from books of accounts. It's urgent. plz reply.

If Mr.ream purchase some raw material from Mr.Laxman for Rs19000(on 1.05.2008)and for Rs.19000(on 2.05.2008)and the payment(in cash) for both the bill was made on 3.05.2008.
Will these expenses will be disalloved?
Since these expenses are related to two different bills can we make cash payments to the similar person.

If company took credit facility for 6 months so processing charges for six month is supposed x amount than it treated like prepaid expenses or fully charged to p/l at one time only?

Can we deduct depriciation after taking income in flat rate , in 44AD 8 % scheme...

Ref : as per the CBDT circular no : 29d (xix )-14 dated 31-08-1965

please guide me about this circular ,

whether flat rate of profit is applicable beyond the limit of 40 lacs..

when the contractor has not kept the books of account..

please guide me about this matter.....

hi everyone.......
please help me.I am doing PCC & completed six month training.My PCC attempt will due in May 2010. I want to know that is it good for me or not to convert PCC to IPCC if I submit conversion form before 31st Jan & when my final exam will due. Please solve my query as earlier as possible.

hello friendzzzzzz
plz tell me what is the diff b/w oppurtinity of being heard and show cause notice?
plz explain with help of example if possible
thankxxxx

If any firm has given fees to a company for developing a website for them THEN Is it a Service contract u/s 194 C or Professional fees u/s 194 J. Which TDS rate applicable. Can anyone tell me.

if the private school/college is run by employer weather or not fbt apply with reasons about that ?