on the retirement of partner of my father, we have revalued the land and building and passed the following entry in the books of account as follows.
L&B A\c 4500000
To revaluation account
(being L& B is revalued on account of the valuation at the retirement)

Revaluation a/c dr.
To existing partners;s capital account
to retiring capital account

what is the tax treatment will applicable to retiring and existing partners to
the share in profit on revaluation of partnership firm's assets ?

i have done Bachelors Degree in Banking & Insurance. now i am in CS final and CA Final. Ca Final May 2014 is my attempt. i want to do CFA course. i am very weak in Mathematics. heard that CFA involves deep maths. i want to know syllabus (subjects) levelwise of CFA course ? And how many years will it take to complete CFA ?

Dear Sir,
1. In case of Works contract there is specific provision in TNVAT that where composition scheme is availed, VAT cannot be collected from the purchaser, i.e VAT cannot be shown as a component in the Invoice.
2. Under Service tax is there any specific provision. i.e If under Works Contract of original Works if 40 % composition scheme is opted for can the service provider of the same charge it in the invoice and collect the same from the Service Recipient.

Dear Experts,

A Pvt Ltd company imports Mobile Phones from China and remits USD to settle the amount. The company has imported goods in the month dated 20 March'13 and the amount is paid in April. It has raised Creditors by taking the exchange rate as per Bill of Entry (Customs Copy)of 20 March'13. How we have to report the Creditors as on 31 March'13?

Hi,
Please guide me to prepare for IAS Prelims and sugget books.

Thanks in Advance.

If an assesse who is the owner receives rent on house in his name, but the rent on furniture is recived by his parent by cheque in parent's name, as the furniture is provided by the parent. Can the parent claim this as his income from other sources?
The parent is not dependent on the assesse.

How to treat Proposed Dividend while calculating Net Profit in Cash Flow Statements??

For eg under B/S it is given
2011 2012
Proposed Dividend 100000 120000

Nd the other query is how to treat Provision for Tax while calculating Net Profit in Cash Flow Statements??

For eg under B/S it is given
2011 2012
Provision for Tax 130000 140000

Hi,

I completed CWA Inter,Pursuing CA IPCC. I got job in BPO Industry (General Ledger). Will it be good for my professional career?

I am willing to work in industry which should give good experience to further development after am being qualified.
Is BPO industry is good for above mentioned requirement.?

Pls suggest..

sir
i have been completed my MBA and registered for CPT in april 2013.now i came to know that MBA people have an option for direct entry.is it possible to change form cpt to IPCC inter as per direct entry scheme

why are preliminary expenses disallowed as a deduction to foreign companies? what is the logic behind it ? Doesn't the Government always tries to encourage the foreign entrepreneurs for initiating business in the country ?