I am not able to understand why do we prepare p&l app Ac? And what all Items do wew take in it? And is it prepared only for companies?

while maintaining books of accounts is it compulsory to provide depreciation @ rates prescribed in companies act? of we can depreciate it as per Income Tax Act?

hi sir,
i have registered myself for articleship in year 2011 so i have to do gmcs once or twice

one of the my friends company is manufacturing musterd oil and soyabeen oil. it is also manufacturing plastic jar, bottle and paper boxes for packing of oil and selling packed oil . now the problem is whether excise duty is payable on plastic jar manufacturing and paper box manufactuing or not. what products r exciseable in this case , plz help

I want to get education on IFRS and serched for the same. I got many sources for the same and confused which one is better : Certification from ICAI or KPMG program IFR (ACCA)

Please advice which option is better

Hi
Please help me...

in the last financial year one of my friend working in two companies (ie. april to augt in 1st company later he resigned from there and joined to the second company)both the companies were issue form 16 to him.

1st company didn't considered HRA deduction because he forgot to give rent paid details and the company is considered rent paid is zero.
during self assessment it clear that he can claim HRA deduction.

My question is while filing ITR-1 can he correct the amount (gross receipt from 1st comp)in the required filed ?? Is it make any problem??

answer for this ques:

Gyan received Rs.5,000 in advance but he credited to sale account. Which of the following concept he did not
follow?
a) Accrual b) Conservatism
c) Consistency d) Going concern

Hello All,

Please mention the relevant case law where commission is treated rent by revenue department.
Actually the case is- mr.A has taken a building on lease from Indian airforce on a condition that he can not sublease the building further, but Mr. A had furnished the building and given it to mr. B on Commission.
Accordingly mr.B fefucted tds on commission, but revenue deptt. treated it rent in place of commission and disallowed exp. proportionately.

please suggest any case law,which will be in favour of mr. B.

Sir,
please let me know how and when to claim back refund of tds deducted by bank. i have never filled Income tax return. tds deducted is 10% on interest of fixed deposit from my saving bank ac.i have certificate of tds from the bank. what i should do now? inform me whether i need to file return every year once i start file return?

one of my client who is partnership firm heaving professional fees recd during Assessment year 2013-2014 is Rs. 56,000/- and there is a net loss of RS. 16,000/- last year he has filed his return without Audit which is required because u/s 44AD his income is less then 8% , now this year i have to file return for A.Y. 2014-2015 This year also Total professional fees recd is 40,000/- and ther is a loss of Rs. 25,000/- then u/s 44AB AUDIT is required , because his total income is less then 8%