Can a company purchase any asset in the name of director ? if yes, than what are it`s implications ( i.e.in claiming depreciation in income tax law or in any other law )

Section 145 of the Income Tax Act clarifies on the seperate disclosure of prior period items but doesnot specifically disallow it.

Is there no section that specially disallow prior period item? Please clarify on this matter

Sir,

We a residential school organisation have not filed any return in the present year 2008-2009. But we have deposit VAT on sale of materials to the students. Also we have not taken any credit against vat payable (materials purchased like......uniforms, stationaries, edibles etc.)My query is ...

1. Wether we can adjust the full VAT recoverable from 01.04.2008 tilldate while paying the VAT for the month of March 2009 ?

2. Now that we have not filed any return, what is the procedure to file the return in the last qtr...if this being the first return filed ?

Generally companies are providing food vouhers (Sodexho) to their employees. The coupens are said to be non transferable.
But it seems that anybody can use the vouchers.
So in this case how do we interprete the transferability of the vouchers?? Shouldn't these vouchers be taxable to FBT??

is the process of packing of goods form part of goods?
is packing of goods considered to be a part of manufacturing of goods?
does process of manufacturing of goods fall under the definition of goods?

Dear Experts,

Guide me how to print the Balance confirmation letter from Tally.

Generally companies are providing food vouhers (Sodexho) to their employees. The coupens are said to be non transferable.
But it seems that anybody can use the vouchers.
So in this case how do we interprete the transferability of the vouchers?? Shouldn't these vouchers be taxable to FBT??

what is tratement of custom duty receivable .
whether income should be booked in p & l a/c or not?

Amt.paid for consumable debited to repair & maintenence account? Can VAT credit be taken or head is req. to be changed frm repair & main. to consumable.

I SAURABH AGRAWAL REGISTERED AS AN ARTICLE ASSISSTANT ON 28TH DECEMBER 2007 AFTER PASSING CPT.I NEED YOUR EXPERT OPINION WHETHER I WOULD BE ELIGIBLE TO APPEAR IN PCC EXAM GONING TO BE HELD IN june2009....

THANKING YOU
SAURABH AGRAWAL