Dear Sir,
A company was incorporated in 2006, but business has started i.e first Sales made by the Company is in june 2008.Now the company has not prepared any P & l account for the last two years and have filed NIL IT Return and have debited the expense to pre-operative exp account. Now the Company prepares the P & L anccount and debit all expenses of the last two years including the current year exp. in the P & l Account.Is the treatment correct as the Company wants to rectify the entries which it has wrongly debited to Pre-operative exp Account.
a) Will the expenses which were debited to Pre-operative exp account be allowable as per IT act, as they relate to period other than the current financial year ?
b) As per It Act will the expenses be allowed if the operation of the Company has only started in June 2008.

A construction company is hiring a centering material from another company for Rs.1,50,000.00

in a huf there are four member one is karta other three are his wife, his daughter and his son respectively. karta daughter and son is minor. after death of karta can his minor son become the karta of huf or not.
wheter the property of karta in his individual name transfered to his huf or not.

UNDER WHICH HEAD THE PROFIT & LOSS OF DAILY TRADING (WITHOUT DELIVERY) OF SHARES WILL BE TREATED FOR AN INDIVIDUAL

IF UNDER BUSINESS & PROFESSION WHETHER SPECULATION BUSINESS INCOME OR NORMAL BUSINESS INCOME AND WHAT WILL BE THE TAX OF RATES

hi everybody
i wanna ask that is it compulsory to
fill balance sheet information for the proffessional individuals like docter, choreographer in ITR 4 for the period A.Y 2007-2008

hello

can anyone specifically tell me what is the difference between Circular and a Notification?

thanks in advance
tima

FBT levied on gift to employee, can be reimbursed from employees.

Suppose i am calculating my income under Section 44AF, Whether the deduction under chapter VI will be available for me while calculating my taxable income

one of the conditions of sec 10B is repartriation of sale proceeds to india in 6 months. but in case of a indian subsidiary(software developers) who transfers all the software developed to its foreign parent company who in turn sells it to outsiders, there wont be any repartriation of sale proceeds. in this case will sec 10B apply here.
the subsidiary company gets money from parent company towards expenditure
secondly is it correct to book income by applying transfer price methods

is the interest rcvd from NABARD and REC bonds excempt?