I had passed CPT exam in November 2006 securing 18th rank.

I have also completed the 100 hours ITT course by passing the test conducted
on 24/06/07.

I would like to know whether the eligibility requirement for PCC Exam
is 15 months of articleship, 3 months prior to the exams OR 18 months
of articleship.

This is important for me as I would be completing my 15 months of
articleship in the first week of May 2008. After that I intend to take
a break and NOT leave from articleship for about 11 months for the PCC
exam in November 2008 and for the T.Y.B.Com University exams in
March-April 2009. Consequently I would resume my articleship for the
balance period of 27 months.
I have not come across any regulation stating that we cannot take a break or have to be on leave for studying and appearing the PCC exams.

Please reply to my query as soon as possible.

First let me apologize for wrong area of posting, because am not sure whether it should be posted in this section or in accounting section....

One of my client paid sales tax for the year 2005-2006 in 2007-2008... how do i account the same...

he paid entire tax as on that date... but when assessment was finished, it found that there was of shortage of Rs 3000/- to be payable...
a)how do i pass an entry... for that....
b)in case of refundable how do i account the same
c)if it is income tax does your answer differ

its urgent please reply asap

Thanks in advance!!!

I want to know which Form is there for filing appeal against an order passed under CST Act by Daman Sales Tax/VAT Authorities. I know one Form i.e Form 38 which I think is applicable for order passed under DAMAN VAT Regulations 2005. Is the same form applicable for filing appeal against an order passed under CST Act.

Hello Sir
My client is a partnership firm, it formed in 1995. The nature of business is buying n selling land, construction of shops, complex and trading in that. The firm had 9 partners. But in last seven years it has no trasaction so the land standing in books as stock in trade @ Rs.18,00,000/- But today the market value is Rs. 1,00,00,000/-.
One of the partner is retiring and two new partners are introducing.
Now the problem is capital standing in the credit of the capital account of the retiring partner is Rs. 3,50,000/- but he is demanding higher amount.
so how i deal with this in income tax, as income tax does not provide computation for this as per my idea. so whether it is taxable or not. or there is no effect in the income tax.
In accounts i can do this by debiting gaining partner and crediting retiring partner.

Please guide

a company has taken a loan to finance its fixed assets but due to financial crisis financial institutes waive some amount of loan and interest outstanding.m what should be the treatment whether it should be deducted from fixed assets and depreciation should be charged on balance amount or it should be shown A profit or some alternative if any

can a 100% EOU company claim cenvat credit on various services like Auditing?. that is if auditor's bill is soppose 100000 + service tax 12224 can company book 12224 as cenvat credit

There was a case of Penny stock Shares Transactions, wherein shown as a LONG TERM CAPITAL GAIN, and shown as exempted in original return for A.Y. 05-06, however later on investigation dept on broker at mumbai in jan.06.

Broker given the statment the same was modus operandi.

Hence assessee declared the same as income and filed revised return and paid tax along with tax+int.

During scrutiny, same was accepted and levided the penalty u/s 271 (1)(C)after issuing a notice and given the reply.

can any one suggest on the same any case law / any same type of cases and how to handle the matter in CIT APPEALS.

THANKS IN ADVANCE

SHAM

My friends and my seniors at the firm tell me that one should study Coaching material/ Reference books more but with few reference to the ICAI module. Even an old CA had told the text material in the module is more than the syllabus prescribed (many extra things are given; which has nearly 100pc chance of not being given in exams).

Take my coaching’s case in Business Ethics. In the sub-chapter “ Corporate Governance”; the material given to us by coaching had the condensed form of the chapter of the module. In module there was
a)History of evolution of C. governance in abroad and India
b) Case study of C.G. Stucture in ITC (company)

But in our material; the history part was totally missing. Does that mean we don’t have to memorise(one memorises history usually; not understand them) the history of C.G.?

Similarly, does this same thing stand for other subjects as well?

P.s. A CA student told me that “ a PCC/final examinee succeeds due to his ability to grasp the syllabus in the last six months: that’s why students prefer Coaching materials wisely!”

Which is the last date for filing TCS return for the quarter ending on 31/03/2008. Also give me the refernce of section or rule on basis of which you have formed your opinion.