We are an STPI organisation. 100 % involved in software export activity. Now, we want to diversify into some domestic activity also. so part of the office needs to be de-bonded. Till now we are covered u/s 10B of IT Act, 1961. What would be the overall impact on us so far as taxation is concerned? & ALSO, whether being an STPI organisation whether we are allowed to operate other than from a Custom Bonded Warehouse?

Reply urgent.

Subhash

Finished Goods worth Rs.20 lacs(MRP)were damaged due to floods.The accountant suggested the following entry:
Loss by Flooding a/c Dr 20 lacs
To Trading account Cr 20 lacs
(Being loss by floods)
The auditor suggested that no entry should be passed;logic he puts forward is that the closing stock valued at the close of the year has taken cognisance of the loss by not valuing so much of the stock as is lost.Who is correct.Why?

Pls tell what are the basic things need to be check before digi. Sign the Form 8 by the Director. Pls give the reply in brief.

What are the highest return investment for tax benefit u/s 80C?3
ULIP, ELSS, etc

when we provide depreciation for assets actually no cash is going outside.but we debit in p n l ac and reduce the amt from particular asset. so the balance sheet agreeing . but wat happens when the cash is not really going outside like other expenses?

is service tax not applicable to services provided outside india

While valuing stock as per AS 2 if NRV is less than cost , NRV is considered as the stock value. Here how the stock value is reduced by entries(how to provide such loss).

Hi Sir / Madam

Please provide me the circuler for Sodexo meal vouchers which specifies exemption of Rs 50/- per meal

Regards
Anil

thanks for First answer
i would like to know
if one Registered Internet Service Provider(ISP) enter into a contract with another Registered ISP for purchase of Bandwidth what are the tax implications which taxes will be applicable to that purchase.
Will it attract Sec.194C of the Income TAx Act.
is there any exception to not to deduct the TDS. For the Asst Year2006-07

we are the service providing industry .I want information regarding the project reports for submission to the bank for cash credit limit and for term loan,
1.what are the requiement for preparation of the same
2.what is the differance in project report required to submit to bank for term loan and project report required to submit for cash credit.
3.How to prepare the project report.
4.Different formats of the project report.