Aditya Maheshwari's Expert Profile

Queries Replied : 9425

I am a Chartered Accountant in practice in Mumbai in the field of Direct Taxation, Audit, Company Law Matters and LLPs.

My motto in life is "Prepare for the worst and expect the best"

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CA Aditya Maheshwari

B. Com., A. C. A., DISA (ICAI)

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SHIJI SAM says : your advice required
Dear All, I am working with One of the Adfilm company, here sometimes we have forced to pay with out deducting TDS & Cash payments bcoz if we shooting fixed in any home they will charge 1 lakh perday but they did not ready to receive cheque or DD only cash. Now my question is this it it possible to pay cash and how we can do the entry also if their is any exemption for Film Industry if yes please give me the note. Awaiting your kind reply SIBI

Pravin Mahadik says : F & O
F & O In equity shares is non speculation business. Only F & O In commodities is speculation business. - as per this comment u have any circular regarding that f & o in equity is non speculation business?

Punit Babu says : Doubt on WIP Entry
Sir, I am working in a Construction Company, I have a doubt in WIP. We(X Co.) are the contractors of Mr.Y co.(Client)executing a reservoir. We have done some work worth Rs.10000000/- till 31.05.11, but we have not submitted bill for that work done, now we have to take it as it is a Work in Progress. 1. Then how can i pass the Journal Entry and in which Head(Current Assets/ any) under it will come. 2. After submission the bill how can i pass the Journal Entry. 3. Then after we will receive the amount, then how can i pass the entry. Note: That of WIP amount and Bill amount will not be the same. And the submitted bill amount and received amount will be the same.

Gajjala Satheesh says : Tds Companies 200 & 400
Sir, I paid service tax for the f.y. 10-11 A.Y. 11-12. The bankers issued a note. In Prevoius Challans written 200 instead of this they wrote 400 in the companies coloumn.And I have not sign on the Original challans the name of the depositor. Plz Clarify.