hi,
i had joined a ca firm at 22 feb 2006. i have been taken transfer from said firm at 22 june 2008 with total leave 156.

as per institute latter,my total EXCESS LEAVE till 22 june 2008 is 41.

therafter i have joined a company at 1 july 2008 as industrial training.

please suggest me that when my training get complete. am i eligible for industrial training as minimum number of period for IT is 9 months?

A Pvt. Ltd. Co. has a Deffered Tax Assets of Rs. 61000.
The cuurent Tax Liability computation is as under :

Profit as per Book 3000/-
Depreciation as per Co. Law + 116000/-
Total 119000/-
Less : Dep. as per Income Tax - 86000/-
Income 33000/-

Tax Payable 10120/-

Can we save the current Tax Liability of Rs. 10120/- by creating Deffered Tax Liability and set off it from deffered tax assets of Rs.61000/- and deposit the MAT.

Please Advice.

Kindly tell that if a person who has been abroad on deputation for 3 years. And now after returning to India He wants to purchase a new House in Metro City...
How to Purchase the house to get maximum tax benefits and Wealth Tax Benefits????

A Pvt.Ltd.company took a secured loan from a public sector bank. Charge is not registered with the concerned ROC. The company is unable to payoff the loan. Can the bank take recovery proceedings /action against the Directors of the company under the companies act,1956.

I have a doubt in taxation.

If an employer pays tax of the employee it is considered as a perquisite and is taxable on it.

Hence tax must be paid on the tax which the employer pays. But this will become a never ending situation as whenever u pay tax of the employee u will go on paying tax on tax.

Is there any equation to find out such amount which has to paid.

Kindly answer me

on 31st march 08, my VAT a/c shows a credit(refund due)of around Rs. 4 lakhs. Should i claim for refund or should i carry it forward in the next year to set it off against next years liability?.

Our company deducted Rs. 780/- as PF from mysalary though my basic salary is more than Rs.6500/-. I have resigned the job during 15.08.08 and they have fully settled my accounts. But at the time of full and final settlement they have deducted Rs. 764/- for PF. I have a doubt whether PF deducted is correct and why don't we calculate on pro rata basis.(i.e) Rs. 780/- is for full month so they have to deduct Rs.390/- for 15 days.

Kindly clarify.

Query no 1: Cenvat credit eligible for dta clerances by EOU/STP/EHTP as per cenvat credit rule 3 is

Assessable value * (1+BCD/400) * (CVD/100)

This formula holds good when there was an exemption of 75% of customs duty for such DTA clearances. But according to notification no 10/2008, customs duty exempted is only 50%. In this situation the credit calculated using formula given in rule 3 does not hold good as it considers the old exemption of 75%. In my opinion the formula should be

Assessable value * (1+BCD/200) * (CVD/100) What stand should i take in this situation ?

Query no 2: In the above formula (as per rule 3) , education cess and SHEC on (BCD+CVD) is not considered for the purpose of taking credit. It is apt by not considering BCD for the purpose of cenvat credit as it is not available as per rule3. But why EC and SHEC are not considered , as credit is also available on them as per rule 3 ????

I HAVE CLEARED MY PCC IN THIS MAY.N MY FINAL(NEW COURSE)IS DUE IN MAY 2010.BUT I HAV HEARD DAT OUR FINAL ATTEMPT WILL BE PREPONED MY 6 MTHS N WILL BE DUE IN NOV 2009.BUT MANY ARE SAYIN DAY IT IS JUS A RUMOUR. CAN U PLS TELL ME BOUT IT ??

I AM USING PC FOR MEDICAL TRANSCRIPTION. COULD YOU PL ILLUSTRATE HOW TO ARRIVE AT THE DEPRECIATION VALUE.

THANKS & REGARDS