If sales is rs. 945000.
If general administration is rs. 25000.
If op stock is rs. 300000.
PUrchases r
June 1............200000litres@rs. 2.85 per litre.
June 30 100000 litres @ rs. 3.03 per litre.
On june 30 closing stcock is 130000.
What wld b value of inventory, anount of cost of goods sold for june by FIFO, LIFO, Avg WEighted method?

An assessee has c/f business loss of Rs. 1 lac, pertaining to AY 2005 – 06. For AY 2008 – 09, the total income of the assessee (including business profits of Rs. 65,000) does not exceed the maximum amount not chargeable to tax. i.e. the total income is Rs. 85,000.
Does the assessee have an option not to set-off the b/f business loss against business profits of the current year?
Can the assessee claim carry forward of entire business loss of Rs. 1 lac, pertaining to AY 2005 – 06, without any set-off against business income of AY 2008-09?

Thanks & regards,
Niki

Hi

what is the meaning of cost center and profit center. please explain with an example

Dear all

In the financial yaer 2005-06, an assessee ( Prop.)has sold his property below the circle rate.. For Eg: The rate approved by the govt was Rs. 40,00,000 but the assessee sold it for Ts. 30,00,000. so wtat are its implications..

Is there any ratio between authorized share capital and Paid-up share capital of a Pvt Ltd company. A company wants to have authorized capital of Rs.50 Lakh[due to use of Intl with name] and Paid up Capital of 5 lakh. What would be my cost for ROC. Can I use chairman as the designation for director who invested majority.?

Regards,
Anil Jacob

whether tds will be deducted on preoperative exp.if we dont deduct tds then that particular exp.will not be allowed in our P/L a/c.as preoperative exp are also deffered exp.if we not deduct tds, then what are the consequences of this.

hi...m pcc students cleared c.p.t june 08 attempt...nw my doubt is....related to notification by icai on 1 dec 2008 tht to qualify for the may 2009 attempt of pcc..u should complete ur articalship by 31st march.....thn according to this notification my articalship going to end on 18th of october....and should i eligible for nov 2009 attempt....
ya i know tht it is nt 1 month before 1st day of exam starting..bt my dear frinds..i was registered for C.P.T may attempt which was postponed to june...so i should given preference for tht..if my attempt was may c.p.t..thn thr will be no problem mine pcc attempt thn on nov 2009....plz guide i dont want to extend CA more because m graduate and hav given c.p.t after graduation..plzzzz guide me

Dear sir,

I am PCC student and i written my exam in nov 08 and i had completed one and half years articleship in one medium size firm now i am searching for good firms in chennai.

Please give me list of good firms in chennai.

E-mail: narayanasamy2006@gmail.com

if the associated Enterprises provides service to another associated enterprises & raises debit note & not the bill , then whether the new amendment is applicable i.e service tax is required to be paid with in the same month in which entry is passed in books even though payment is not received ?
Amendment is applicable from 10.05.08

Please tell me about the implication/tax liabiity of undiclosed bank account found in survey. how tax will be calculated as per the law on this bank accounts transaction. each transaction credit and debit will be considered or net balance at the year end on this account will be added. or the maximum balance at any point of time during the year will be added? please guide me with supporting case law if any or reference of books.

thanks,