Dear Sir,

My client ltd. co has purchased inventory in foreign currency for a plant prior to commencement of operations on 12.5.12

At the time of purchase price was Euro 12500 i.e Rs. 787500. (1 euro = 63 Rs.)

On 31st March 1 Euro = 73

At the time of payment on 13.5.13 it was 1 euro = 71

Company does not make P&L account for the plant as it is not in operation yet.

Please tell me the accounting treatment for stock and Foreign Exchange Gain and Loss as per AS 11.

Hi expert
In service Tax
As per circular No 169/4/2013 point no 2.. We can fill late returns and can get immunity.

One of my client has t filled return since 2008, So please guide me for 2008 to 2011 ,, How should fill the return.

As excel utilities nt available for earlier years


Please reply and guide as fast as possible

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Note : I am using this agriculture Land For Agriculture Purpose only..

Hi,
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Sir,

how to calculate a partner,s income and tax thereon when;
1. he receives Rs. 50000/- as share of profit, Rs. 25000/- as Interest and Rs. 75000/- as remuneration.

2. he receives Rs. 75000/- as share of loss, Rs. 50000/- as interest and Rs. 75000/- as remuneration.

All the entries have been passed in his capital account.

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if assesse has tin num n deals in non taxable goods is it compulsary for him to file sales tax return monthly