could any one post Accounting standards (entire AS ) prepared by Sreeram Coaching Centre as notes containing questions and answers and main highlights of AS

please anyone can tel me that after e-filing of return within how many days we have submit acknowledgment to Income tax office

Dear All,
Please try to solve this query.
We are consignment agents for one of the companies in south. We keep stocks on behalf of the company & the co. provides us comission (about 3% on sales value). The total comission doesnt exceed 3.5 lakhs in a year. The responsibility of the sales & collection is completely ours.

We used to pay service tax before (have registeration as clearing & forwarding agents) & when we learnt about the exemption limits (now 10 lakhs, earlier 8L & earlier than that 4 lakhs), we stopped paying, but we still file the returns on normal dates.

Now, we went to department for cancellation of our registration as the comission is far below the exemption limit. But, the department says that we are liable for service tax & no exemption is available for C & F agents.

Please advice on the above,

Thanking you

if the director of the company pays club membership fees for joining a club , so that he can increase his network and business contacts ,whether that expense is allowable in the books of the company???

Can any one suggest me what is the status of application of Provident fund on directors. Whether it is exempt or applicable.

Assessee want to demolish the depreciable building n later want to create shopping centre. Then he is going to sell shops what type of gain occures? short/long term? What is the treatment of cost of original bldg as well as new constructed bldg?

If the same situation is there n assessee wants to demolish personal building then what will happen in that case?

Is there any provision in the service tax law for filing a revised return which has already been revised? So as to correct the cenvat credit details given wrongly in the revised return which was earlier filed in time?
If no provisions are there what will be the consequences if the cenvat credit closing balance shown in March 08 return is different from the opening bal in April 08 while filing Sept 08 return?

AS PER CLAUSE 5 OF THE FIRST SCHEDULE, THERE IS a RESTRICTION ON MAKING INQUIRIES BY THE AUDITOR FOR HAVING HIS NAME INCLUDED IN THE PANEL. UNDER WHAT SITUATIONS CAN THE AUDITOR APPLY TO AN ORGANISATION FOR HAVING HIS NAME INCLUDED IN THE PANEL AND DOES NOT FACE ANY PROFESSIONAL MISCONDUCT.

1.warranty spares:
During the warranty period, the dealer doing warranty service as per agreement for customer for serivcing & replacing parts on free of cost. I know service tax leviable on service portion of work ie labour charges. As per service tax circular, parts sales are exempt if documentary proof exit for sale of spares separately in invoice. In this case spares not sold. Actually no gain araised on reimbursement of warranty spares. Please explain with details whether warranty spares are liable for service tax?

2. Management, maintenance or repair work
Contract work involve material and labour.
vat paid on material sales. whether materila value is included in assessble value for service tax.
Please clarify with detials
Adv. thanks from

Raghu.

As per First Schedule Part I, Clause (4), Can a practising member enter into a Partnership with any person resident abroad. Which institute's qualifications are recognised by the Central Govt or the council for the purpose of permitting such partnerships.