Can any body tell me about Form 13,(lower deduction/no deduction

Sir, I have been registered in 20th Jan 2007 for article\Final(old syllabus) . When shall I get my final attempt.

And my friend has been registered in 25th Jan 2008 for final (New syllabus), When shall she get her final attempt. I want year & month of the attempts

Bhargavi

In an audit of college we had a doubt regarding income. In the college ,batch starts from july and ends in next june .The college is collecting Rs 100000 towards yearly fees from each student . The college is receiving amount whenever the student pays . Most of the fees is collected in 2007-2008 and some fee is received in april 2008. Now I have a doubt that, how income should be shown in the books of accounts if the F.Y. of the college ends on march 31st 2008.

Bhargavi

I have been doing articleship for the last two months and till now i have got competitive and hard stuff as work. That is good for learning.

Once, a teacher and CA in our coaching said that "Now, you all are happy; when you go to some office for office; they give you honor; bring coffee and snacks for you and yu audit the purchase,cash,bank books and vouchers.But , what after one year? You will be doin the same thing again and again and this time you will be bored." He was teaching Labour Turnover Ratio at that time and he asked the students "Have you ever asked things like Labor turn..ratio to the office accountant where u r auditing; he will be clueless."

That sent my brain reeling. True in some sense. When i see some of the seniors "completion of articleship" form; all of them have ticked mark their "Auditing and Taxation" part. But there are many areas too written down in the form. Till now, in firms where students of my coaching classes work; i think all's firms have the same thing.

instead of doing the same purchase book,cach book, etc (thank god , my firm will provide me more exposure even in the two field than the other firms) for 3.5 years (going outstations, skipping coaching classes); why aren't students given the opportunities to get exposure in those remaining fields also:
A)Financial and Management Accounting
B)Management services
C)Info. Tech.
D)Secondment Exchange

And ICAI brags about giving stiff competition to the MBAs. One would generally think, that CAs despite having vast knowledge are lagging behind even MBAs (from not so big insititutions; forget iim) just because they are not having soft skills.

I think fist, one should change the system of articleship for good;we get only theoritical education thru the modules; but what about its day 2 day use at our field(Recall the example of LTR).
firstly, we have to get over the illusion that we are lacking only soft skills like MBAs.WE HAVE TO GET PRACTICAL KNOWLEDGE OF WHAT WE LERAN TOOOO; not just learn, give pcc and final; and forget after3 months from exams

we have purchased a fixed assets of Rs 1000000.00 . before 3 year. but now it has been srap. what should i do in books of accounts. it value of rs 400000.00 in the books. if i writte of full amt firm will show loss. plz tell me correct treatment of accounting to writte off.

Sir, Please tell that a how many kind of addresses a company can have. like registered office, communication addrss, etc. if a company is situated in other state(R.Office)and its project site is in other site. then how address should be given so that all the communication at project site may be made. means how many kind of addresses we can give. and also can a particular building can be given as address for more than one company.

Thanks

One of our client has entered into a sale agreement (without giving possession)to sell a site for Rs.10 lacs and received advance of Rs.2 lacs with a condition that the balance has to be paid at the time of registration and the registration has to be done on or before 2 months from the date of sale agreement. Rs.10 lacs is also the value fixed by the stamp valuation authority on the date of sale agreement. But the valuation authority has increased the rate to Rs.20 lacs by the time of registration and the stamp duty is paid by the buyer on rs.20 lacs. The seller has received the balance Rs.8 lacs at the time of registration.The seller has paid the long term capital gain taking the consideration as Rs.10 lacs. The case is selected for scrutiny. Now the ITO has raised a tax demand taking the sale consideration as Rs.20 lacs as per Section 50C? Is there any way out for the client to argue that the sale consideartion has to be taken as Rs.10 lacs instead of Rs.20 lacs? Are there any case laws on the above subject?

One of our client has entered into a sale agreement (without giving possession)to sell a site for Rs.10 lacs and received advance of Rs.2 lacs with a condition that the balance has to be paid at the time of registration and the registration has to be done on or before 2 months from the date of sale agreement. Rs.10 lacs is also the value fixed by the stamp valuation authority on the date of sale agreement. But the valuation authority has increased the rate to Rs.20 lacs by the time of registration and the stamp duty is paid by the buyer on rs.20 lacs. The seller has received the balance Rs.8 lacs at the time of registration.The seller has paid the long term capital gain taking the consideration as Rs.10 lacs. The case is selected for scrutiny. Now the ITO has raised a tax demand taking the sale consideration as Rs.20 lacs as per Section 50C? Is there any way out for the client to argue that the sale consideartion has to be taken as Rs.10 lacs instead of Rs.20 lacs? Are there any case laws on the above subject?

To,


The Board of Studies
ICAI


Sub.: Confirmation of Syllabus


Sir,

I am Vinod Lakhayani (CRO 0 194854) student of PCC and I want to confirm about the syllabus of Cost Management of PCC. Whether the topic “Overhead Variance” is included in syllabus of standard costing.


This topic is included in study material but not included in the syllabus of PCC available Online data.

Please confirm and reply.



Email ID : lakhyani007@gmail.com

Dear Sir,

My client is a licensee of "Depository Participant" as a Sub-broker. For expand the volume of operation, he is willing to convert the Proprietorship in to Partnership firm. But according to SCR Act,1996 and guidelines, only Individual and Company can allow to hold such license.
In such situation, He comes out with following option.
OPTION -1
1. Continue the license as the capacity of Individual
2. Get the Cheque from Broker in his own name and convert the Cheque to Firm's name.
3. Explore the TDS credit from Broker in his name alone.
OPTION-2
1. Continue the license as the capacity of Individual and appoint the other 2 persons as "Technical Managers - Fund" instead of admitting as Partner
2. Offer Salary with Commission on Profit
3. Explore the TDS credit from Broker in his name alone

What is your Suggestion?