Dear All,
As I want to know, whether AS-22 applicable on Life insurance companies,
If yes then any exemption to not follow AS-22 to them?
and whether they mandate to show deferred tax in Balance sheet too?
Please give your precious response...

There has been an expense where TDS was deductible by the assessee u/s 194A, but was not deducted and such expenses was disallowed for non deduction of TDS u/s 40(a) of the Income Tax Act while computing his taxable income.

My Query is whether Penalty can be levied u/s 271C for non deduction of TDS on such expenses where they have been disallowed u/s 40(a)?

MY name is santhosh and i have completed CA-IPCC with MPC background in nov 2013 and joined articles in hyderabad. I have a desire of doing MBA in IIMs.Is this a good idea at this stage? Please give your opinion and guide me..(I applied for b.com(A&F)in ignou as there is MOU with ICAI and i can have my graduation within one year).

Can an individual who is a minor, accept gift from his Grand father's Sister without paying any income tax.
Note : Since the individual is minor and cannot give consent for receipt of gift, the gift would be accepted by the minor's father for and behalf of minor.
Thus can it be construed that the gift is received by minor's father from his father's sister and not chargeable to tax.

Dear Sir,

Pls help me for tell the difference between Modvat and Excise Duty.

Dear Experts,

Income derived by providing accomodation as a paying guest would be taxable under house property or business profession?

Also can hra benefit be claimed by the person paying rent on the basis of rent receipt?

Assessee is a private limited company. Return of Income was filed declaring loss. TDS credit was claimed. Deductor has not deposited the TDS with the ITD. During the scrutiny proceedings the A O verified the party statements which shows that TDS has really been deducted. Deductor was also summoned for giving statement regarding the transactions with the assessee. However, while passing the order acceptance or otherwise of the TDS claim has not been mentioned by the A O. Whether, the A O is not duty bound to pass the order either to accept the TDS claim or reject the same while passing the assessment order; especially when the amount of TDS is substantial and the credit has been claimed in the RoI.
Thanks in advance

I have cleared CA Final in Nov 12, Age-22 now, Thinking of doing IAS, but not able to make up my mind to proceed with it or not.
Please suggest with reason.......

I HAVE A rice mill operating in a village. PF is applied on my co but my employees are labourers they are not ready for pf so in the initial years i have made 24% contribution from my side but its not a long term solution.. Please help me in this situation

My Final attempt due in Nov'14.IS any of the following changes are effctive to my attempt?
Accounts - IFRS/IND ASs
Law - Latest Comapanies Act
Tax - DTC
Tax - GST

When shall i start my coaching and in which order ??