Nikhil Kaushik's Expert Profile

Queries Replied : 24294

I handle tax compliance, litigation and advisory services. I am reachable at canikhilkaushik @ gmail.com

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Saurabh Lalwani says : PARTNERSHIP RATIO DETERMINATION
There are 2 partners A & B who introduce assets (vehicles) worth Rs. 1 crore and Rs. 2 crore respectively.they have fixed installment system by which the firm will pay them for their vehicles plus get Interest on capital. Lets say after 4 years the repayment schedule is met and the partners are paid off in full with interest for their capital. In such a case Profit sharing should be 2:1 or 1:1 ?

kfgfgdfgffdfd says : 43b
we pass vat,service tax etc through payable accounts.it is not reflected in p& l.Is it right or wrong. how to pass the tax entries through p and l.

Shubham Pandey says : exemption under 80c
sir, please tell me that exemption under 80 c EPF contribution both employer & employee deduction in income or only employee

Abhinav says : Need Advice
Sir, As per form 26as i'm entitled to rs 9213 as refund. But I got refund cheque which is less than this amount. What should I do? Thanks in advance Abhinav