I am student of CA final having attempt in November 2008. But I haven't started preparation/coaching due to some unavoidable reasons.I enrolled to take coaching ACCOUNTS & MAFA (3 hrs daily class) from June-Aug. I study Remaining subjects myself.

Actually I am strongly confident to attempt for both groups. But, how can I prepare both in 6 months (MAY-OCT)? What will be my preparation strategy? How can I plan all the subjects?

Plz advise me.

Sir,
Can you suggest me the complete accounting entry of Consignment Agent in the books of Consignee and consignor with inventory, comission exp. etc.in Tally and SAP also.....

thanks & regards

Praveen Pandit

Please guide me for the procedure for cancellation of Service tax registration number and applicable expenses for same.

Hi

Kinldy advise the rate of FBT on party expenses

Sir,

How to calculate ratios.


Bhaskar

IS EDUCATIONAL LOAN PROVIDED BY THE EMPLOYER TO AN EMPLOYEE EITHER ON INTEREST FREE ON CONCESSIONAL RATE OF INTEREST IS SUBJECT TO FRINGE BENEFIT TAX?

AN ASSESSEE HAS A MARUTI VAN WHICH IS SHOWN IN THE BOOK DEP.IS TAKEN FOR EVERY YEAR IN MAHARASHTRA VAT UNDER RULE 54 IF ANY VEHICAL SOLD DURING THE YEAR WHICH IS IN NEGATIVE LIST YOU SHOULD PAY MVAT ON THIS VEHICAL BUT IF WE TAKE THIS VECAL FOR PERRSONAL USED AND DEP.IS NOT TAKEN AND PETROL/INSURANCE EXP IS TAKEN AS DRAWINGS
IF I SOLD THIS VAN IN THE CURRENT YEAR WHETHER I LIABLE TO MVAT TO PAY TAX ON THIS TRANSACTION

Hi,

one of my client is a trust register on 25/6/2006. The return of income was filed on 31/10/2007 for AY 2007-08. The trust is duly registered u/s 12AA of the act.

Now on 25/4/2008 the officer issued notice u/s 142 of the act asking to submit 1) return of income for A.Y. 2005-06, 2006-07, 2007-08 2) copy of PAN card 3) copy of 12AA certificate 4) minutes books for last three years.

no notice u/s 143(2) of the act is recived intimationg selection for scrutiny.

Now my query is:
Whether the officer can ask submission of minutes books etc. for last three years though case is not selected for scrutiny

2) whether the officer can issue notice u/s 142 only on the basis of registration with trust authority to file return of income though the income does not exceeds minimum exempted limit.

Kindly guide.

With regards
Thanks.

CA Rajesh Sheth

AN ASSESSEE HAD A LAND WHICH IS PURCHASED ON 21/03/1980 FOR RS 50000/-& SOLD DURING THE YEAR F Y 2007-08 ON 28/03/2008 FOR RS 1500000/- BUT ASSESSEE HAD NO ANY INCOME BECAUSE SHE IS A SENIOR CITIZEN AND IN THIS TRANSACTION SHE HAD INCOME OF LONG TERM CAPITAL GAIN EARNED ON 28/03/2008 BUT IN INCOME TAX RETURN INTEREST IS CALCULATED U/S 234A/B/C BUT HER'S INCOE IS ONLU LTG &nO OTHER INCOME SO INTEREST U/S.234A/B/C/ IS APPLICABLE OR NOT

It is heard subprime lending is a normal thing in US. Then how come it became a crisis this time? Where did the crisis start?