SIR, A MANUFACTURING CONCERN HAS VALUED ITS CLOSING STOCK AT RS. 10.00 LAC AS AT 31.03.2012.
THE FILE SELECTED FOR SCRUTINY BY INCOME TAX AUTHORITIES AND HAVE POINTED OUT THAT THE CLOSING STOCK IS UNDER VALUED BY RS. 1.00 LAC AND THEY HAVE INCREASED PROFIT BY RS. 1.00 LAC AND TAX DETERMINED ADDING RS.1.00 LAC TO DECLARED NET PROFIT IN RETURN OF INCOME.
MY QUESTION IS IN THE NEXT YEAR OPENING STOCK AS PER BOOKS WILL BE RS. 10.00 LACK. WHETHER THE EFFECT OF RS.1.00 LAC WILL BE GIVEN FOR CALCULATION OF TAX BY I.T. AUTHORITIES IN THE NEXT YEAR OR NOT ?

i was now under going articleship of ca registered on august 2012 , can i attemt my final exam on november 2014??????????????
pls reply me as early as possible

I have filed for 1A with 2 directors & 2 shareholders.Name is approved. But now I want to make addition in directors & shareholders while filing Form 1.what is the procedure for the same.

dear experts I m going to face a interview for the position of Company secretary in a big bank. please suggest me what should I prepare for the interview I have 4+ yrs experience but on what topics should I prepare questions please help me

In xyz ltd Mr. A, Mr. B, Mr C are the directors . Shareholders wants to remove all the three directors and want to appoint two new director Mr. D , Mr E in their place. Only mr . B has a Digital signature but he does not want to share with the co. ,since co wants to remove him. Nor Mr. A , Mr C want to take a digital signature and share with the co. In such a scenario , how the resignation of directors can get effected ? Also how the appointment of directors can get effected.? New director MR. D , Mr E have a digital signature .

Is there is any way to resolve these crises?

Dear experts,

My friend gets salary of Rs 225000/-pa. The company giving a house worth Rs 50lacks with a consideration to work for 5 years. The company will enhance salary of 10laks for one year for five year it will be 50lacks.the Company will say you have to pay income for Rs 10lacks every year for five years, totally for 50 lacks.
If he receives house worth Rs 50lacks as a gift from company what will be the gift tax?
And he agree to pay income tax for 50lacks in 5 years, wht will be the income tax.
Please suggest.
Thanking you all

what should be the accounting treatment of purchase of a plot on installment.the total purchase cost is 5500000, and in the 1st year , 1790000 was paid as installment . what should be the treatment in 1st year . should it be recognised as expense or an assets if the possession was not transferred.

I had been working with a US registered company initially in India and then in USA ,London and then again in India. The shares of this company are still UNLISTED. During the period of working with the company I was allotted 25000 shares periodically at 1c per share. Now after holding the shares for about 6 years, the company has offered for buyback at $5 per share.
Presently I am working for a different company registered in India.
In case of offering my entire holding against the buyback offer, what would be income tax implications for me. My present earnings as individual are more than 25 lacs per annum.

Hi friends, plz help me.
I am applying for Associate Membership no. of ICSI alongwith with this i want to apply for CP no. also but i don't know the fees i.e.DD amount.

So anybody can help me in regarding this, who had applied recently for CP no. Plz tell me the fees and document which i should submit for this.

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Dear Sir,

We are running microbrewery(Fresh beer Manufacturing) business in bangalore. manufacturing equipment (brewery) mostly should be imported from other countries as they are no good suppliers in india. Huge Import duty 30% is being levied. Is there any way we can avoid this and reduce capital cost?.
If we are eligible for EPCG.. what is the EO?.. we got import/export license. Mostly we wont be exporting anything as such.

Please advice.
Thank You