CAclubindia

S.Srinivasaraghavan's Expert Profile

Queries Replied : 3560

About me

I am a Chartered Accountant, Cost Accountant and a Company Secretary.

I am attached to Amalgamations group of Chennai. I am also on the Board of some of their group companies, besides being a CFO & CS of Simpson and Company Ltd..

Interested in Carnatic Music, Deep reading of Science and Spiritual books and reconciling scientific truths with spiritual experiences, Travel, Games like tennis, cards etc., Watching documentaries on Animal plannet, Discovery, National geographic etc., Internet browsing - websites of Wikipedia, Nature, Astronomy and Professional forums.

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Pradeep says : Forward exchange contracts
Dear Sir, how do we account the revenue in case of forward exchange contracts? For example if a company has taken a forward cover at INR 50 for 1 USD, and subsequently if 1 USD is INR 48, how do we account the loss of INR 2?

mahesh says : Service Tax Query
Dear Expert., I working as an accountant in 'Crescent System Pvt. Ltd. " Chandigarh and a registered with Service Tax Department “ Commercial or Coaching”. Our firm providing Coaching of IELTS and English Language to the student.We are also providing Corporate Training to Government firm as well as in private Training I have filing service tax return 2007-08 with only receive “Corporate Training Fees” and we have not mention “English Course Fees receipt because English is a foreign language. My Query is 1.Whether Company is liable to pay Service Tax on English Coaching (Foreign Language)? 3.Whether Company needs to pay service tax on English Course Fees in current year? Kindly solve my query. My mail address: Vashisth_mahesh@yahoo.co.in

Amol Desai says : Self removal of goods
Sir, We have a Pvt. Ltd Co. and having production of Refined Oil & Soya D.O.C. We are exporting the Soya D.O.C. & this product have no excise duty. The present procedure of stuffing the containers is, the officer from Excise department comes to factory inspect and seal the containers. Is there is any provision in the Act for self removal of goods for export of non-excisable goods. Please clerify

TR Nagaraja says : Project Reports
sir i want to know about projects reports for Manufactruing machinery componentts and labour work. for getting loan from banks against Mahincey, what kind of project reports to submits to bank. pls send me formate for the same to my e-mail nagrja2008@yahoo.com

CA JEELANI AHMED.ACA says : sec 40 A (3 )
Dear SIR, regarding that query.i went through the book.That amt even splited shall be clubbed ,,but theres a loop hole..going through the law which shal be applicable from 01-04-2009, WHERE THE ASSESSEE INCURS ANY EXPENDITURE IN RESPECT OF WHICH A PAYMENT OR AGGREGATE OF PAYMENTS MADE TO A PERSON "in a day".OTHERWISE THAN BY AN ACCOUNT PAYEE ,..,.,.,. in a day brings in some thinking ,, so we can intrepret that voucher can be splited .,,.and the dates may also be different. SIR,,if i am wrong ,,plz let me know this,,remember this is an amendment applicable from 01-04-09.. COMING TO OUR PRESENT PROVISION,.,no aggregate term has been used ...so i think ,, it can be splitted..,.,sir,,if u get any insite,, let me know and correct me ,,if i am wrong ,,tc regards CA.JEELANI AHMED ACA