if unsecured loan repaid id more than 20000 that also considered as disallowed? if disallowed what is effect?
sir i want notes or recommended books ipc 2014 nov exam
thank you
ashish chaturvedi
Is that disallowance of payment more than 20000 is applicable for trust also?
Rule 3(5B):
"Where the value of any input or capital goods (before being put to use), on which Cenvat credit has been taken, is written off fully or where any provision to write off fully has been made in the books of account, the manufacturer shall pay an amount equivalent to the Cenvat credit taken in respect of the said input or capital goods. Recredit is possible where the goods are subsequently used in manufacture of final products."
My query: Ex. inputs purchased for 1lakh and duty paid is Rs. 10,000 and CENVAT credit is availed for Rs. 10,000 subsequently 70,000 of inputs is written off was written off. Now duty payable would be Rs 7000 or Rs. 10,000 i.e CENVAT availed. The wordings say that "in respect of the said goods". Now does the said goods does it mean the written off goods then payable would be Rs. 7000 else if said goods means the entire input then Rs. 10,000 would be payable. Am i right?
frnds i need ur advice...now i am doing my articleship and completed one year recently....all my seniors suggesting me to start preparation frm now for ca..final..i had gattered some ref books through ca clubindia also...and now iam confused abt how to start,where to start...plz suggest me...i need to complete in my first attempt its necessity...
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Sir, As every one knows there no clarity with regard to extension of due date for filing Income tax return in case of tax audit. Should we presume that the extension is only w.r.t tax audit report and proceed to file ITR. If it is so then the task looks really impossible with less than a month left.What is the best suggestion?
Cash payment