Goodmorning,my Question is that for may2009 exams of PCC, solving last 10Years Question Papers help to practice well for exams????

We have issued a cheque to a party for Rs. one lac in October, 2007.Till May, 2008 the cheque is not deposited and 6 months passed.What will be the accounting entries in books and when?Should any entry have to make in march, 2008 as per AS-4 etc.

Indian company located in SEZ engaged in 100% export of Jewellery. A foreign company intends to invest 50 % in equity. Does FEMA automatic regulations permits such investment - or Indian company has to move to FIPB for permission. The confusion is that the CEO of Indian company carries an impression that since their unit is having an investment in plant & machinery is less than Rs.50 Million and therefore the unit is a SSI unit and therefore if investment exceeds 24 % they have to move to FIPB and no automatic route is available to foreign company.

Is such impression is correct?

one of pvt ltd company deals in hiring of machinery such as JCB, pocklane, dumpers etc., for excavation work.to the site on hrs basis. Is service tax is applicable on hiring of such machinery ? If applicable, in last year they did not collect any service tax. so what will be remmedy? and they also gives truck for transport should also this covers in service tax? pls guide early and give explanation through with law so that i can refer.

Dear Sir.. Can clarify what is Small & Medium Enterprises..

what is the disclosure requirement in SCH VI

Company is paying salary to the employee working in canada.Can company give the benefit of HRA and Sec 80C?
Is TDS deducted is compulsory because he is NRI?

Can somebody plz guide me that how to deposit professional tax for employees of mumbai branch here in delhi? Which challan to be used, can cheque be deposited in bank for same?

Dear All,

I am having total 4.5 yr expereince in Accounts Division. i am good on all accounting work.

But i had zero knowlege about taxation.i.e. vat,service tax,tds .

Please tell me how can i improve & came out of this.

Suggest me any books or an other way.

Thank in advance

i seek to know whether there is part marking for the questions on which certain comment as an auditor is required.e.g in question 1(c) i have elaborately stated the as -2. but while concluding i have answered the question wrong. whether out of 4 marks can i get some marks in this questions. besides, i have answered all the ethics questions correctly. how much can i expect out of 18 marks. your help is highly solicited in this regard.

in CLSP paper i have quoted sections in one of the questions like
sec.220 of companies(amendment) act 2006
i want to know whether i am right or wrong. should i need to mention sec 220 of
companies act 1956 instead of section 220 of companies(amendment) act 2006. should examiner award zero in this question although i have stated everything correctly under this section. pl.help me on this issue.