Dear sir,
Please given me suggestion
Case 1. My Uncle is employee in Air force he is retire on 01-05-2016, and he received the pension from CG. After the retirement he get a Job in syndicate as Clerk .
Question is Pension received from CG is taxable under the head of salary along with syndicate bank salary .
LIC maturity proceeds received on 2017 is 23 lakhs single premium is Rs. 5 lakh paid on 2001 pls tell me whether maturity amt is taxable or exempt & under which section?
In an Accountancy Book by T.S. Grewal, in the chapter of Journal, there is a question: "Insurance premium amounting to ₹50,000 was paid by cheque for all the machines. Out of the premium, ₹5,000 was towards insurance of new machinery." The solution given is:
Insurance Premium A/c Dr. 45,000
Machinery A/c Dr. 5,000
To Bank A/c 50,000
Since the premium of ₹5,000 is for the new machinery, it is debited to the Machinery A/c.
So, this means it is capitalized, right!?
Now, in the same book, in the chapter of Final Accounts, there is a question asking us to differentiate certain items of expenditure on the basis of Capital & Revenue. The questions are:
1. Second-hand car was purchased for a sum of ₹50,000. A sum of ₹10,000 was spent on its overhauling.
Answer (given in the book): Both the expenditures are capital expenditures. (I don't have any issues in this).
2. Cost of annual taxes paid and the annual insurance premium paid on the car mentioned above.
Answer (given in the book): This is a Revenue Expenditure!
Aren't these views conflicting!? Please explain!
Dear sir,
Can anybody help me on ITR-1 e-filing for F.Y. 2015-16 and F.Y. 2016-17. What is the last dates.
Best regards,
Sanjay Sharma
9896103637
1) What is the GST rate on job work of embroidary work
2) and it is under which HSN code??
3) What are the documents required to be maintained every month??
4) Is it beneficial to opt composition scheme?? (turnover less than 50Lakhs)
Dear sir
Please advise about unregistered person under gst reverse charge??
Suppose we take a loan to construct a building on 01.04.2017. Annual Interest is say ₹5,00,000. The term of the loan is 5 years. The building gets constructed by 31.03.2019. Then, Interest paid on the loan for the pre-construction period, i.e. 2 years, is capitalized. Why?
What is the impact of GST on Goods sent on Approval Basis ? Whether challan has to be issued for goods sent for approval basis ?
One of my client is involved in Information Technology consulting, it involves providing IT services outside India too leading to export of services, I would like to know if we can claim any benefits under Income Tax Act, for export of services?
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