As per the clarification - now the TDS is to be deducted on only the Rent portion leaving the service tax, but this has given arise to a new querry to us i.e till now , we had a prastice of debiting the rent as well as service tax portion to the RENT ACCOUNT and we deducted TDS on the gross amount, but now as per new clarification, Service Tax portion has to be debited to which account? Because if we debited as we did earlier, the TDS amount shall not be justified. ( simple example - rent 12000/- service tax 1483/-, TDS to be deducted only on 12000/- , so now presentely , the RENT account to be debited by only 12000/-, then the amonut of service tax portion has to be debited to which account ?)
Thus we require your expert opinion to resolve the issue.

I am C.A. P.c.c. student. I almost complete my one year training under a C.A. in DELHI.

I came to know about new guidelines by institute. I am pursuing graduation course in distant learning mode(correspondence)from Delhi University. I had not taken any permission in Form
no.112, when i registered with institute in P.C.C.

My query is if i have to still submit form no.112 as there is no classes held for graduation course?

please resolve my query & reply me soon
ANKIT
akntjuneja@gmail.com

Ammendment - Sec 40(a) (ia)
CA Deepak Jain pl clerify if i entered journal entry in the books on 31/03/2008 this is also applicable or not

Hi

What is the last date for filing the Individual return for the Fy 2007-08

date of return filing of company for AY 2008-2009. is it 31 Oct or 30 Sept as per budget. if it is 30 Sept where it is defined.

hi brother is doin CA. he is 24 yr old. just started CA. Good in studies but by the time he will become CA ,his age will be 27.5. He will clear finals in first attempt as he is good in studies. So he should go ft CA or do sm other course.
Need advice regarding age factor. at 27 will he get good placements?

So people need ur opinion

we are doing equity index arbitrage. We buy nifty futures and sold equivalent % of stock futures so our position is 99.99% hedge. Suppose we bought 1,00,000 nifty @6000 and sold equivalent stock futures at same level to take advantage of arbitrage opportunity. Now on 31st March the Nifty value comes to 4500 but we have positive mark to market as we have already sold stock futures of equvalent value. Now as per Guidance note issued by ICAI we have to provide for Mark to Market loss on Nifty futures i.e.Rs.1500 lacs and should not consider gain of Rs.1510 lacs on stock futures. To me in such cases as matter of prudence one has to consider profit/loss of whole basket instead of considering each item individually. Any comment ???

Dear Experts,

If the employer recover the FBT amount from Employee. Does it fall within the law.

If yes whether mentioning of FBT deduction in the salary Slip is Right or not?????

Regds/-
Anil Jain.

Is it possible to have Income Tax benefit under Section 10AA for the following activities in SEZ Unit?

A.Import and Re-Export of product.

B.Buying from DTA and exporting the Product.

Kindly explain in detail the relevant provisions.

What is the accounting treatment of salary paid to employee after deduction of TDS