hello,

my query is relating to the scrap value of fixed assets. facts are given below :

our company is following the depreciation rate of 31.67 % by SLM method with a scrap value of 5% on EDP assets.
one of our assets(laptop) given to an employee for his personal and official use. after 4 years he has resigned. what is the value we should recover from him ?

There is partnershp firm where one partner wants to retire and another partner wants to joins.In this case i would like to know is one agreement fine regarding admisssion and retiremnt of partner.If yes can i get the sample agreemnt at samirambavi@hotmail.com

tds deducted on bill including service tax or excluding service tax.


our clinet ONGC Ltd net bill given after deduction of service tax on that amount we deducted TDs as per contractors


this is correct or not

plz sir

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I am having office in a residential apartment in ground floor. Corporation authorities has treated my office premises as commercial property and accordingly charged property tax applicable to commercial premises.

I want to know whether Chartered Accountants office premises will be treated as commercial or residential for the purposes of charging property tax by municipal authorities.

Dear Sir/Ma'am,

I need help in calculating the fwd rate when swap points are given. I have read that when Swap points are in increasing order, we need to add the same to spot rate to arrive at fwd rate and vice versa. BUT i hv realised that it's not so.

Consider following example:

Bid - Ask

Spot Rate : Rs./USD >> 40 - 45

USD intt rate >> 8%, India Intt Rate >> 10%

Thus applying IRPT, the fwd rate should be Rs./USD >> 40.74 - 45.83

Swap points are : 0.74/0.83.(increasing order.)

Now, if intt rates are changed as USD intt rate>> 10%, India intt rate>> 8%

then fwd rate should be Rs./USD >> 39.27 - 44.18

Swap points are : 0.73/0.82 (again in increasing order)

From above, it is concluded that swap pts. are not always added to spot when in increasing order.

Further, which situation can lead to swap points in decreasing order and what should be done in that situation?

Pls. advise.

Regards

Pankaj Gupta

Individual, who is not directly involve in any business earns Interest, Remuneration and Share of Pofit from a Partnership Firm, which is exceeding Rs. 40 Lacs.
As per section 44AB any person carrying on business shall be liable for Tax audit if his total ... gross receipts... in business exceeds Rs. 40 Lacs.
Now, in this case, whether the individual earning such income from firm will be treated as a person carrying on business? Whether he will be liable for Tax audit u/. 44AB.

hi,I am Parag and is studying for PCC and is in JK SHAH Classes. Can u please tell me that which author books should be referred for PCC for all Subjects or that we should use Module or either some classes notes.

hi,
can anybody suggest me the entry level handbook of NRI taxation?

It should provide basic issues like What should be the restrictions of investment , Loan to resident, interest, TDS to Non resident etc.

Thanks