Brief Facts: -
A listed company has been declared as a “Non Performing Asset” (NPA), by a Financial Institution (FI), due to absence of timely payments to them because of shortage of funds.
NPA:-
An asset is Non Performing, when Interest and / or installment of principal remain overdue for a period of more than 90 days with effect from March 31, 2004, as per RBI Master circular.
Query:-
Since the account of the company has been declared as NPA, interest is booked by the FI on receipt basis (and not on accrual basis). However, the company has to provide for interest in the books of accounts on accrual basis.

The question is regarding deduction of TDS, while providing the interest expense.

1) Should the interest be provided for in the books?
2) If provided, should TDS be deducted on the same?
-Nidhi

Dear Sir / Madam,

Please let me know whether there are any penalty provisions for non surrender of service tax registration number after closure of business ?

If service Tax return is not filed and its registration number is not surrendered, till 1 year form obtaining the registration number, due to services exempt from tax, are there any penalties leviable during the surrender of registration number ??

Dear Expert

How to calculate Depriciation :-

1. As per Company Act.
2. As per Income tax Act

Please solve my problems

I AM GETTING FOLLOWING ERROR WHILE UPLOADING THE XML OF THE COMPANY.


"THE XML SCHEMA IS INVALID.PLEASE UPLOAD THE XML THE CORRECT SCHEMA
"AT LINE NUMBER 60:INVALID CONTENT WAS FOUND STARTING WITH ELEMENT 'ITR FORM:AUDITEDBYACCOUNTANTFLG'.ONE OF '{HTTP://INCOMETAXINDIAEFILING.GOV.IN/CORPMASTER".AUDITREPORTFURNISHDATE,"HTTP://INCOMETAXINDIAEFILING.GOV.IN/CORPMASTER".AUDITORNAME}'IS EXPECTED.

PLEASE SUGGEST ME THE SOLUTION FOR THIS ERROR.

actually i hav registerd with icai in 2011 ana that time my name was incorrectly entred wid nitika instead of nikita....and today i hav filled online exam form of ipcc grup1 n in my details shows my name nitika...form 2 subit ho gya...plzz can u tell me the procedure of changing name.....and koi problem toh nhi hogi na if main isse name se xam de du abhi n 2nd grup main name change krva lu...plzz tell me as soon as possible....

Sir bank deducted TDS & but credited in wrong PAN & on complint filed rectification on 25th june & gave me statement showing status as booked but till dater credit not shown in my 26AS. What to do?

In revised schedule Vi advance tax and provision for tax where to show

suppose my tax is 50 and advance tax is 30 or tax is 30 and advance tax is 50
please provide the answer

Can anybody solve my query about Machinery transfer.
Actually our co. has 15 branches in all over India. 5 machinery transfer from Gurgaon branch to Delhi branch.
what is the treatment in assets schedule.
and how to treat it in gross block and net block of assets schedule.
can i show it in Delhi branch as a addition or simply transfer all gross block and depreciation into the Delhi branch.
please send me the ans with an example.

i made application for sT in ST-1
But i made mistake in ST -1 now i want to correct that mistake before filed along with document to service tax office
Plz suggest mr what to do?

Deduction in respect of int. on loan for starting new business by an individual is allowable under section 36 or 37 i.e which section will apply.

As under section 36 int. on loan is allowed for existing or for extention of business.