Deemed dividend is subject to accumulated profits and profits earned upto the date of payment of loan or advance made by a company to a shareholder having substantial interest in the company.

My Query is

What is the basis for calculating profit in the financial year upto the date of payment of Loan or Advance made by Company to its shareholder having substantial interest in the company?

Whether profit for that purpose is calculated on proportionate basis during the year or whether it should be calculated on actual basis after considering the provision for income and expense entries? If actual profit is difficult to derieve due to the fact that the company is having large volume of transactions having 10 branches and the figures upto the date of loan is not audited figures than what profit should be considered?

Please let me know which are the best books for CA Final Auditing,MICS and Accounting standards

Please let me know which are the best books for CA Final Auditing,MICS and Accounting standards

Dear All Experts

I need your valuable suggestion in the following matter.

Ours is the Ceramic Tiles & Sanitaryware Industry. Tiles are cleared under MRP Valuation (Sec 4A) and Sanitaryware is cleared under Sec 4. (advolerm)

Further for promoting of our Tiles Sales we want to give sanitaryware items as a free gift alongwith Tiles to our customers.

My query is whether the duty is payable on the clearance of Sanitaryware items which are cleared alongwith Tiles as a free gift. If yes, what is the procedure for valuation.

Thanks in advance.

Pls refer me some good books for PCC- Cost Ac & Financial Mgt. & Info. technology.. please reply soon....... thanks

Can anyone send me checklist for Compliance as per Companies Act on canehagupta1@gmail.com

Dear Friends,

I want one clarification about first Balance sheet of company, We started One company 2 years back and still we are not done even one transaction so that still we are not submited Balance Sheet, Here my question is now what we should do for delay in submit the Balance Sheet.

An ancestral land of cost around Rs.1 lacs on 01/04/1981 (as per valuation) given to Mr.A (builder) for building an Apartment in 2005, and instead of Land Mr.A has agreed to give me 11 Flats out of total 22 Flats on that apartment, which is handed over to me in 2009. we are 3 brothers. How the Capital gain will be calculated on Land?will the cost of Flats to the Builder will be consideration for CG??plz confirm.

tds on contractor was deductible coz the bill amt was greater than 20000 but the next bill during the whole year was of 5000 only so is tds deductible on 5000 as 50000 limit is not crossed during the whole year

Dear Friends,

My company is registered under service tax act as service recepient for transport of goods by road.

During the year our company has imported some machinery from Italy and paid a sum of Rs. 20 lacs as technical fee for installation of machinery in India by Italian Engineer and deposit the service tax on that amount.

My query is whether my company required to get a separate registration number for technical fee paid to non-resident.

Secondly if No separate registration is required than how I can show the technical fee paid amount in my service tax return.

thanks in advance

kamal kukreti