Dear Sir,

In what circumstances the composition tax is preferable instead of VAT & why?

my query is for an average student taking coaching for both groups of ca-final and attempting both groups at a time is better or taking coaching for single group and attempt that group is better. i am going to take exam in nov-2015. please give me a sugession

MR.x manufacture an excise goods for many distributors. he got an additional oder from Y.ltd company to manufacture same kind of goods under Y's comapnay brand name and packing would be done by mr.x n transfer goods to the company at rs. 50/-. Mrp on box is rs.100/- excise would be paid my Mr.X on what amt?? will retail sale price based valuation come into picture???

Hi friends

Cheque issued on 29.03.2014 Rs. 295000/-
as on 31.03.2014 balance as per books Rs.(41,624).

the above cheque is honored on 02.04.2014 .

in balance sheet what balance is required to be considered

i hve a home lone and the total amt of emi is Rs 3 lac appox in which principal is Rs 85000 and rest is interest but by mistake i claim Rs 1 lac under 80C i just want to know how can i ractify this
plz help me regarding this

when are the results for ca-ipcc may 2014 r going to b declared..?

Hi,

One of my fried working in MNC(HO Located in USA)and its having world wide individual Registered offices,

My question is

HO announce some shares to employees on every year end for their contribution to company's growth on that year

when that share comes to allotted to employees account that time HO deducted tax on that shares and remaining value of shares allotted to employee's name,

If an employee worked in Indian Office(Company also registered in India), suppose he ready to sold his stock which was given by HO(after deducted tax in USA)
1.Employee again pay tax in india or not?

or

2.Indian company how to shown that income in employees salay (In Indian office)

Kindly give suggestion

Thanks for helping

MR X HAS COMPLETED HIS 18 YEARS ON 20-06-2014
HE HAD SALARY INCOME OF Rs. 180000 IN F.Y. 2013-14.WHETHER HE CAN FILE HIS INCOME TAX RETURN OR HIS INCOME IS TO BE CLUBBED IN THE INCOME OF THE PARENTS.

sir/ madam
how to complete ca with cs within a short period?at present I am waiting for my ipcc result

CWIP for opening automobile workshop

M/s PQR (hereinafter referred as “Licensor) is a tenant of and as such in exclusive use, enjoy possession of the premises being land admeasuring 6000 sq. yds, or thereabouts lying or being at Address , Mumbai together with certain buildings and structures thereon hereinafter called the "said premises").
The Company is entitled to use and occupy the said Premises (excluding an area of 6,000 sq. ft. appropriately occupied by Licensor and other Licensee) as Licensee under Licensor's Leave and License for a term of five years commencing from 25 March 2013.The license fee is to be paid Rs.750, 000 per month in the first three years of license period for the use of said licensed premises. The license fee for the remaining 2 years is increased to Rs.862, 500 per month. The first two months are fee free period of license.
Further, the Company is liable to pay Rs.1,900,000 per month during the first three years (except for fee free period of the license) for the use of equipment’s as mentioned in annexure A. The fee for the remaining two years is increased to Rs.2,185,000 per month.
The Company has started construction on said licensed premises in the year 2013-14 for setting up the new automobile workshop. The workshop was not ready for its intended use during the year and hence, the expenditure incurred in setting up the workshop are carried as CWIP as at 31 March 2014.
Total expenditure of CWIP includes Rs.51,792,435 (details mentioned below). Can Company carry the expenses in CWIP mentioned below? Kindly support your opinion with relevant accounting standard and GAAP.

The details of administration and general overheads included in CWIP as at 31 March, 2014.
Particulars Amount Remarks
Rent 26,900,000 Monthly (rent expenses paid for the use of premises and equipment's)

Electricity 525,305 (Electricity expenses incurred during the construction period)
Employee Cost 18,795,364 (The employee cost relates to the employees who has hired to work in the workshop after the same will be ready to its intended use).
Contract Labour 1,849,283 (Contract labour expenses are paid to the contractor whose labour should work after the workshop will be ready to its intended use.)
Interest 3,722,483 (Borrowing cost as per AS 16)

Total 51,792,435