A COURIOR COMPANY HAVING GROSS RECEIPTS FOR THE F.Y 2008-2009 IS RS.15,00,000/- AND TDS DEDUCTED BY THE CUSTOMERS OF THE COMPANY IS RS. 40000/-. WHETHER TAX AUDIT U/S 44AB IS REQUIRED OR NOT?

whether deduction available for mediclaim insurance premium is inclusive of service tax?

Dear All,

Director Remuneration paid to all of three Directors Rs. 600,000/- P. A. each during the F. Y. 2007-08.

During the Current Financial Year 2008-09 there is no payment for Director Remuneration made so far.

Is it necessary to provide Director Remuneration during the year in the books of accounts of The Company or not.

Please advise according to Corporate Law.

B'Regards
Saran

i have to deduct TDS on studio hiring.

thanks for in advance

Mukesh Kumar
Delhi

DETAIL REGARDING IFRS

MEANING OF IFRS & DIFFRENCE BETWEEN IFRS,INDIAN GAAPS

Suggest some good books for all Subjects for PCC

Sir, My Query
1. Whether Hundial Collections from Unknown Persons for a specified purpose will be treated as income or not. And this collections was made by AOP by means of any of their trust will be treated as income or not.

An assessee engaged in manufacturing had imported a Plant/Machinery from Japan. The amount to be paid was sourced out of a Loan taken from SIDBI Bank. However, the Payment was to be made by SIDBI directly to the Foreign Supplier in 4 equal Installments. The Loan was taken by the assessee in Indian Rupees. On every due date the Bank would pay the Supplier the decided amount in Japanese Yen and would debit the Loan account of the Assessee in its books at the rate prevailing on the date of Payment.
When the asset entered India, it was booked at the forex rate of the date when it entered India. However, during the course of the Installments the Indian Ruppe depreciated against the Japanese Yen and as a Result the SIDBI Bank had paid a sum more than what the assessee had booked in its books for the Cost of the Asset.
Now the question is whether Section 43A is applicable?
Since the Clause 2 of Sec 43A sayz that the loan should have been taken in Foreign currency which in this case does not hold good. Since the loan was taken in Indian rupee.
Clause 1 of Section 43A gets attracted if the assessee has made the payment towards the cost of the asset.
In my opinion Section 43A in totality does not get attracted. Anyways the assessee has had to suffer the loss on account of depreciating Rupee, all i am thinking is that can we reduce his loss to the extent of Tax. ie 30.9% of the Diffrential amt.