About me
I am a science graduate, law graduate and Chartered Accountant. I have also qualified DISA from ICAI.
I am in practice for about 30 years and take care of Income Tax, Accounting, Audit, Company Law, Service Tax, Bank Audits and System Audit assignments of corporates, LLPs, Firms, Individuals, AOPs etc. I have also been attached to Capital Market Companies where I was heading Business Monitoring department with profile of monitoring of Policies, development of new business strategies, formulation of methods and procedures for the development of business and ways to increase revenues and control the costs.
My other interests are listening Music, teaching pupils, net surfing and playing Badminton. I believe in Karma which is ultimately followed by Destiny.
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What kinds of questions I can and can't answer?
I can answer questions relating to Accounting( Individuals, Company, Firms carrying out any activity), Audit, Income Tax, Wealth Tax, Service Tax, Human resource Policies and Cost Control
My area of expertise
Income Tax, Audit , Accounts and Business Monitoring
My experience in the area (years):
16
Organizations I belong to:
BLB Limited
Publications or writing which has appeared :
Private for internal circulation
Educational credentials:
B.Sc, F.C.A., DISA(ICAI)
Award & Honors:
National Merit at School Level and Annual Awards at College Level
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asha fernandes
says
: sec 40A(3)
dearsir, forthe a.y 08-09 do we have to see that expenses claimed last year towards puchases and credited to creditors account single payment in a day doesnt exceed 20,000 thank u sir -
asha fernandes
says
: sec 40A(3)
sir, but if the bill is for 95000, and i know that the bill exceeeds 20,000 .if i pay fully at 1 go its violation ,but if i split in 5 days and pay each installment is less than 20000, it is allowable expense. am i getting it right sir. please guide me . thanks -
asha fernandes
says
: perks of business
sir, thanks for the answer.but if i may elaborate on this one. my client is a doctor who refers his patients for various tests to a particular diagnostic centre. so in turn the diagnostic cente can say as a token of thanks or an incentive to patronise further has sponsored some bills of the doctors house construction and towards some furniture purhcase. the doctor could have very well got the cash if he was not constructing a house. what do u think of this transaction sir? thanks -
asha fernandes
says
: perks of busines
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CA RAMESH KUMAR AHUJA
says
: PF Contribution
Dear Harilal, This is not discretionary on the part of the employer to deduct or not to. Every employer who is covered by The Employees' Funds & Miscellaneous Provisions Act, 1952 (EPF & MP Act) has to follow the statutory provisions contained therein otherwise the fines and penalties may be levied under the act. The Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 (EPF & MP Act) which applies to specific scheduled factories and establishments employing 20 or more employees and ensures terminal benefits to provident fund, superannuation pension, and family pension in case of death during service.
- Deferred Tax
- Upgradation of software expenses - Capital or revenue Exp.
- deferred tax liability treated as deferred tax assets
- Accounting Treatment
- Bank Guarantee
- deferred tax liability
- Accounting Standered - 22
- Redumption of Mutual Fund
- Cost of acquisition - CG of ITR2
- Assets Transfer
- Dual employment.
- TDS on Rent
- sec 234A, 234B 234C
- TDS QUERY--
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