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MOHAMMAD SALIM's Expert Profile

Queries Replied : 338

About me

CA. Mohammad Salim graduated in commerce honours from University of Delhi in the year 1995, and then qualified as a Chartered Accountant from ICAI in 1998 securing more than 60% marks. After qualifying he has handled accounting, finance and taxation issues of large infrastructural corporates and is currently overseeing the accounting and taxation functions of a huge NBFC having loan assets in excess of two lacs crores. He also is the member of Indirect Taxes Committee of the prestigious national level PHD Chamber of Commerce and is also member of study group on Service Tax of Indirect Taxes Committee of ICAI. CA. Salim is visiting faculty in several reputed institutions / universities and has also acted as corporate trainer on Accounting Standards / IFRS/ Taxation. He has also a regular faculty in service tax and accounting in CPE seminars for members organized by ICAI, ICWAI and ICSI. Sh. Salim has also taken sessions on IFRS / IAS in the reputed IFRS Certification Course of ICAI. Till date he has taken sessions in more than 150 seminars. Sh Salim has also contributed several articles on accounting and taxation in reputed professional journals, including the main journal of of ICAI “The Chartered Accountant”, several newsletters and Taxmann publications. He has also authored two books namely "Revised Schedule VI: A Practitioner Guide" and " Financial Statements Presentation under the Companies Act, 2013" for the ICAI.

YOU CAN MAIL YOUR QUERRIES TO CA. M SALIM AT msalimca @ gmail.com and they would be promptly answered.....

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aprajita says : service tax query
there is a party providing legal service party produce bill of Rs 600000 in bill not mention service tax component now second party need to caculate service tax which option should second party apply for calculating ST Option 1 ST= 600000@12.36% Option 2 ST = 600000@12.36/112.36

CA Amit Rajput says : Please comment
****Welcome to all experts to join in discussion **** I have a case about a an Investment (private limited )company which maintaining books of account on mercantile basis. But company records income on receipt basis from April to Feb and in the month of march a consolidate receivable from April to Feb is recorded and for month of march on receivable basis. my question is that is this practice of following cash basis accounting for 11 month and in March remaining receivable on consolidate basis i.e.(receivable less received) and for only month of march on pure receivable basis is Correct ??? Means following cash basis accounting for 11 months and Accrual basis accounting in month of march is correct or it will be treated as hybrid system. Is there any clarification from ICAI or Department for following accrual basis accounting through out the year? Pls join in discussion