A person enters in to business on 1st June,2007 for trading in shares and futures in NSE.
He incurred loss in shares Rs.3000 and in future Rs.12000.
His total turnover is around Rs.60,00,000
Is he liable to audit his account?
Other details are as follow:
Individual
Age 20
Male
Shares turnover Rs.8,00,000
Future turnover Rs.52,00,000
(Future turnover includes Buy and sell of Nifty 10 times only)

Hi all
please tell me the treatment of assets of Rs.5000 or less under company law for following:

1) Do we need to apply this concept on initial Build out capital expense for a new site?

2) Suppose we have bought 1000 chairs of Rs.4800 each for setting up a new site, do we need to expense it off in a single year.
i have a similar query for the bulk purchase of Headsets and telecom equipments individually costing less than Rs.5000 purchased for setting up a new site?

When interest income is shown on receipt basis, how to show the TDS data related to the Form 16 which would show the TDS on accrual basis.

Can we claim the corresponding figure of TDS corresponding to the interest income shown on the basis of actual receipt. In such a case, can we show the balance TDS (corrsponding to the interest on accrual basis) in the next year return?

When interest income is shown on receipt basis, how to show the TDS data related to the Form 16 which would show the TDS on accrual basis.

Can we claim the coresponding figure of TDS corresponding to the interest income shown on the basis of actual receipt. In such a case, can we show the balance TDS (corersponding to the interest on accrual basis) in the next year return?

hi,
my pricipal will sign the form 112 only when we write the timings as 7.00am to 12.20pm which i hav heard is not acceptable by the icai.Institute may turn our whole articleship done as nil bcoz of this timings which clashes with office timings. is it true? can anyone help me plz

we are a manufacturing concern and carriage in bills are not raised by any transport agency,but we have hired some individuals who takes the responsibility for despartching the goods to our place who in turn get commission for the service rendered plus the carriage charges.

my question is no consinement note on us is raised so weather we are liablr to pay service tax on GTA in this case


plz reply soon

Dear Sir,

I am cutting and pasting the query of a caclub member and your reply to that.After reading your reply the member asked some other question. Unknowingly he seemed to have closed the query. I have also inculded his next query.

Since I have the same doubt I request you to please answer it.





Experts Home > Corporate Law > private company
author : Kumar
Posted On : 7/16/2008 11:24:05 AM
Dear Members,
Please advice/confirm.How far it is permissible under companies act,if the company bestowed the tile of director to its employees such as director(finance),director(human resource) etc.Please also clarify the exact position under Comapnies Act whether such practise is permissible.

Regards,
Kumar



Expert : S.Srinivasaraghavan
Posted On : 7/16/2008 11:31:02 AM
The companies Act does not contain specifically any provision to ban such designations.



author : Kumar
Posted On : 7/16/2008 11:41:56 AM
Dear Mr.Srinivasraghavan,

Thanks for your reply.But there is one such departmental clarification by Departemnt of Company Affairs letter no. 2/82 dated 20.1.83 which forbids such practise by corporates.Please confirm whether such departemntal clarification is relevant in present time.

Regards,

Hi everybody,

anyone can guide me that employer can issue 16A form if TDS not deducted by employer from his salary or his salary below Rs.1.10 lacs for FY 07-08.

Can anybody give me Investment Declaration form for Income Tax calculation for employee for the F.Y.2008-09.

My email Id rishikesh_stt@rediffmail.com

what is meant by the debtors and creditors reconsilation?