While preparing the P&L a/c under Sales turn-over I have taken sales amount + VAT i.e. total invoice amount. While preparing the return my auditor has set off the VAT component against VAT paid (expenses) and take only the bare sales. To my knowledge Sales turnover has been defined in the IT Act. Will some CA clarify supported by sec. no. and contents of the relevant sec. Thanks in advance.

dear friends,
i am doing articleship and getting stipend of Rs 10000 pm and other interest income of Rs 100000 per year. my question is whether stipend is taxable and if taxable under which head it is taxable and if exempt plz tell me relevent section of IT act.

dear sir,
i am suppose to do summer project on 'top five diversified mutual funds & opportunity fund'.so can u pls guide me regarding doing this project in the best way.

thanking you,

regards,
kamal

Valuation of Property fees debited by bank in party account on behalf of party , and bank reimbursed this amount from party Accordingly party booked this expenses under head professional fees. The TDS liability arise as professinal fees paid then who will deduct the TDS Bank or party . Kindly let me know please

If I transfer a sum to my father for his livelihood through bank.
The journal entry would be

Drawings A/c___________Dr.
To Bank A/c

or will be treated as loan

Loan A/c___________Dr.
To Bank A/c

(Note: the amount is not refundable & nor i am charging any interest, its my responsibility to take care of them and hence its a transfer so that they can meet their expenditure as I live outside town)

hello, i would like to know that who would be the best authors for all the subjects in the PCC exam...........my attempt is may2009

a proprietorship firm was under tax audit u/s 44AB (because his net profit was below 8% of turnover under costruction business {u/s 44AD}) in the previous year. whether it compulsory for him to deduct tds this year

Hi,
I am an entrepreneur looking to start my own company.

I would like to know the advantages and disadvantages of starting a sole proprietership, a partnership or a private limited company.

Has the Limited Liability partnership act been passed in India? What are teh advantages and disadvantages of this?

What is the income tax structure related to each of the above structures?

well i am doing ba from icfai university by distance learning.i want to know that after completing my ba am i eligible for ias examination

Respected Sir,

ABC Company get Excise Duty Exemption
The said Company purchased Raw Material
with Excise duty.

Can Company pass on benefit of Cenvat Excise Duty to it's customer ?

Your immediate reply will be highly appreciated

With best regards,


Vilas Choudhari