Hi All,

Kindly provide suggestion for the following situations for deducting professional tax:

1. An employee works till October 2007 during the FY-2007-08. Employee left the company without any intimation.
Therefore, the company terminated the employee from their payroll, only in December 07. (Salary not processed during the period of leave)
For the purpose of computation of gross salary for professional tax,whether the salary for October and November 2007 is to be considered?

2. If the employee is in leave for the period October 2007 to January 2007 (Salary not processed during these period), whether professional tax is to be deducted?

3. Employee received salary for the period October to december 2007. He is in leave for the period january 2008 to March 2008. When will be the professional tax deducted for the half yearly period October 2007 to March 2008?

Thanks and Regards

V.S.Sugan
(E-Mail: v_s_sugan@yahoo.com)

India Have 28 States & 7 Union Territores, I want to know that what is the Procedure of each State for Way Bill (Road Permit Challan) Requirement. Suppose any Company Registered in Haryana VAT ACT. So as per Haryana VAT ACT 2003, if Company received Material from Outside Haryana and material cost is more than 25000/- than VAT-D-3(ST-38-Inward)Road Permit Challan required. Same case appllicable if Company material send to Outside the Distt. & State and Material value is more than 25000/- than VAT-D3 (ST-38 Outward) Form required. Without VAT-D3 Challan the company can not movement of goods as per conditions. So What is the form/challan required in other states & UT for movement of goods from one state to another state.

Hi Friends,

I have one Queery for Shares Account

If a person doing Share Business in a Single code and also give the bill to his client whether it is an acceptable in point of view income tax and accounting? What dificulties will be face for doing so?

accounting entries for ier & upr

XYZ PVT. LTD. HAS ENTERED INTO AN LEASE AGREEMENT WITH ABC.LEASE PERIOD 60MONTHS(2lacs*60).EVEN IF THE LESSEE WANTS TO TERMINATE IN BETWEEN CO HAS TO PAY RENT FOR BAL LEASE PERIOD. AFTER 12 MONTHS XYZ LTD WISHES TO TERMINATE THE AGREEMNT.THUS WAS BINDING TO PAY THE LEASE RENT FOR BAL PERIOD OF 48 MONTHS(2lacs * 48).AFTER NEGOTIATING THE LESSOR AGREED TO TERMINATE THE AGREEMENT WITHOUT CHARGING ANY PENAL RENT FOR BAL LEASE PERIOD PROVIDED THE CO. WILL NOT BE COMPENSATED FOR THE FURNITURE WORK DONE(60 lacs) AND THE DEPOSIT(5lacs) WILL NOT BE REFUNDED.
QUERRY:-
1.UNDER WHICH PROV OF THE IT ACT THE ASSET CAN BE DELETED FROM THE BLOCK?THERE ARE OTHER ASSETS IN THE BLOCK.
2.IS THE TRANSACTION LIABLE FOR TDS?IF YES, A) What should be the amount?(penal rent or book value + depoit)B) Under which section 194I or 194C?

Hi,Plz tell me abt the BEST coaching institutes for Final (New course) subjects. And which are the best Books apart from ICAI material for preparation.

Sir
i am Chartered Accountants by profession and i am doing practice at my place and i am also a director in the listed co. so what is my responsibility.

Sir
if the company is listed public co. and the company deal with the firm (i.e. sale & Purchase the Raw Material & Finished Goods) which is run by the father of the Director(Relative), but the decission of sale & purchase is not taken at board meeting but is taken by company management i.e. sale & purchase manager.
so what is the responsibility of the director for the same, whether he has to disclose the interest or not required.

Please guide....

Sir There is one listed co. since 1996. Now No. of shareholder are only 675. so is it possible, as SEBI guideline for IPO says the company should have minimum 1000 shareholder after IPO.
Sir Please guide me?