Hello All,

Thank you in advance for your help.

I have started a small business on September 6th 2007. I have two sweet shops and four curry points in Hyderabad. To my surprise my turnover has reached 60-70 lacs/year in less than two years. Apart from manually keeping track of my cash flows, I haven't yet hired an accountant or a book keeper. I have also not prepared any financial statements for my business till today. I know its pretty late and should get done with creating financial statements for my business as soon as possible. My questions are,

1)I know nothing about the financial documents that are required to be maintained by small businesses in the food industry. How do I go about starting with this accounting stuff for my business? What am I required to do stepwise?

2) Should I myself enroll in an accounting course and maintain my own accounts? If yes, which is the best course and institute in Hyderabad? I am a B.Sc(comp) graduate and have no accounting knowledge.

3) How to make sure I hire a reliable accountant who will actually do his job and not just fake that he is doing it? Should I go to a CA for preparing my year end statements??

Can a Company be penalised if fails to issue Form 16 & Form 16A within due date. Please answer in detail.

Thanks in advance in anticipation!

dear sir
i have terminated on 06-03-09 (actual date), and i have sent form no 103 shawing that i have teminated on 26-03-09 by using white liuid on termination date colomn.
insitute sent letter to both , me and my CA asking exact date of termination on 15-06-09.but i can not respond.
my ca gave reply to institute that termination date 06-03-09 (actual termination date.) but i falsly increased by 20 days .this happen by me to avoid the gap in period
what should do in this case i m in cofusion
what appropriate reply should be given

Dear All Expert,

I have a querries regarding TDS applicability, my question is a Caterer providing staff lunch to our Companay employee. He crossed the value of Rs.50000.00 in a F.year. Company have bear the 50 % of Cost of Lunch 50 % is deduct from staff salary. In this TDS is applicable or not U/S 194C.

PLS. REPLY URGENTLY.

Regards
Bishnu Deo Sharma
bishnu_jsr@rediffmail.com

Can any body provide me the Gold & silver rates for assessemnt year 2009-10 for filing wealth tax Return.Since the Ready Reckoner for assessemnt year 2009-10 has not yet come in market.

Whether contribution into major son's account can be claimed by father U/S 80C ?

Dear sir/Madam,

In few days income tax slab was change

women 1,90,000/-
men 1,60,000/-

now I want to know can we deduct tds as per new slab.

Please give Tax calculater as per above mentioned new slab wise.


Thanks,

what is main difference between monotary and non monitary benifits in salaries concern? list some examples ?

SON OF OUR MANAGING DIRECTOR IS A NRI
OURS IS A PUBLIC LIMITED COMPANY. CAN WE APPOINT SON OF M.D AS A CONSULTANT IN OUR COMPANY. WHAT WILL BE THE PROCEDURE

The finance Minister proposed to abolish FBT from AY 2010-11(FY 2009-10) and onwards assessment year .But many assesses have already deposited the FBT advance tax on 15 June ,2009 for the FY 2009-10.
what will be the fate of the advance FBT they have deposited?