Sir,

if cash payment is made to employee against TA Bill in excess of Rs 20000/- will it be disallowed under income tax act.

Regards
Ashok Sharma

I would like to know the tax implication of net surplus available & distributed to the trustees of will trust which is registerd as AOP.
Whether net surplus distributed among trustees is taxable in their hands or not.

i want to take gift from my father through cheque.what is the procedure for such gift? what documents are required for gift from father to son?am i required to make affidavit for such gift of money through cheque?please describe any other document or procedure if required.

We are Merchant/Manufacturer exporter

We have exported our material to foreign country without payment of duty, after export we came to know that they don’t want our material due to some technical changes in their machinery, so we want to call back our exported material.

There is no proof that Party has rejected the material for some other reason.

Now we wish to import/call back our material to our country.

Our Question is that,

1) What are the procedure related to import, is there is any concession for importing/call back the above material?
2) Whether it is treated as import for us ?
3) What about the call back Quantity in excise Point of view?
4) Whether we have to pay the Excise Duty since material is not exported?
5) Whether we can sell the above material to some other party on payment of Duty?
6) Whether we can re-export the same material to same Party?
7) Whether it is to be intimated to excise department when material reached to our factory within 24 hours.
8) What about the CT-1 whether it is to be cancelled?
9) Whether separate record is to be kept for this in RG-1.

Kindly give us the feedback at the earliest.


Thanks

Whether amountinvested in PPF account on behalf of or in the nomination of a minor (niece or nephew) will qualify for deduction under section 80C of the Income Tax Act.

We have made ad hoc provision of Rs 2 lakh at the time of finalization of books for the year 2007-08. Now while finalizing books for 2008-09 some expenses pertaining to 2007-08 are incurred but for which there was no specific provision made in the books in the previous year. So we adjusted these expenses against this ad hoc provision but now auditor is not accepting this treatment and they say that since there is no specific provision for that expenses it is a prior period expenses. So now eventhough there is balance in the provision but still the expenses for 2007-08 are booked as prior period expenses. So is it correct treatment. I don't agree with the stand of the auditor.
To elaborate I am giving following example

F.Y.2007-08
Ad hoc provision under Miscellaneous exps Rs 200000

F.Y.2008-09

Freight expenses Rs 35000/-for 2007-08 to be deducted from this ad hoc provision. So provision balance will be Rs 165000/-
But audtior is not allowing this treatment and transferring this freight outward expenses Rs 35000/- to prior period expenses saying that there is no provision for freight exps but the provision is for misc exps.

Can anyone help me in the matter and if my view is correct then how do i tell this to the auditor

Thanks in advance

Sir,
1. A Private Limited Company Managing Director Received Remuneration of Rs. 12,00,000/- from Company. Company is Liable to deduct the TDS on Remuneration paid if liable please tell in which section is covered US 92(B) or 94(J).
2. Company is passed a single entry for Remuneration paid to his M.D. for the year ending is it correct or passed every month

(1) can the long term capital gains arising from sale of agricultural land has to be invested only in another agricultural land or can it be invested in residential property also?

(2)is exemption available on investment of long term cap gains, arising from sale of a commercial establishment, in another commercial establishment..

I am not able to communicate well in english language also i dont use some good weighted words while writing or talking to someone?
How to improve the same
I also have many gramatical mistakes when i write
Please help me out
Give me better and fast options plzzzzzzzzzzzzzzzzzzzzzzzzzz

Can we do CA and MBA together?
Do we need good scoring in graduation to do MBA?
ANswer both
Thanx for the same in advance