A private company failed to make provision for income tax in F.Y. 2006-07 and make the same in F.Y. 2007-08. Now for the purpose of calculating Basic EPS for F.Y. 2006-07 & 2007-08 what treatment should be given to "Provision for Income Tax-2006-07" made in 2007-08.

PLEASE tell me that rate of TDS for salried employees.How much amount deducted by the employer from his salary.

In case of cash basis of Accounting. When TDS is deducted at year end, is it sufficient to consider the amount of TDS as income for that year and the remaining amount the next year OR should we take the actual income and then claim the TDS.

Ours is a service company. Can we claim service tax credit on excise duty paid on some capital items purchased from service tax payable along with service tax on input services?

Dear Sir/ Madam,

One query relating to the wrong PAN no. alloted to us in 1996.

Actually we are Partnership firm and we were alloted Company PAN no. (12 years before). Till now we filed all Income Tax Returns under the given company PAN no. This year we came to know we being Partnership firm, we were wrongly filing Income Tax returns by quoting Company PAN(with forth alpha "C")

Can u plz tell me what can be done to rectify the mistake and convert given company PAN into firm PAN no.?

the exchange rate differece relating to foreign currency liability incurred in relation to fixed assets.

1.what is the treatment of above transaction as per co.act

2.wat is its treatment as per IT act.is it an allowable exp.

A private company running in loss has no security to offer for raising loan. Few people known to the director who are not his relatives have come forward to lend money to company. But companies Act prohibits private company from accepting unsecured loan or deposits from persons other than its members ,directors or their relatives.

What can be done in this situation ? The company does not intend to increase the capital.

Thanks.

I Want To Just Opine On Answer Given By CA Ramesh Ahuja To The Question Of 80-c Deduction For Investment In RD.
As Far As Mumbai is concerned The Income Tax Department Does Not Allow The Deduction and in My Opinion Even there is no specific Provision in the law For Deduction of the same.

can unabsorbed Dep. setoff against Presumptive incomeu/s 44AD,44AE,44Af.

Can a person be appointed as Company Secretery for both holding as well as subsidery company.

What if a C.S. is not appointed at all in a company in which his appointment is mendate by law ?