CA PARAS BAFNA's Expert Profile

Queries Replied : 9397

I am a practising CA from Surat

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Favourite field of activity is Income-tax .

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tabrez says : plz suggest me
i have completed my b com graduation what i have to choose to become a perfect accountant

Alok kumar says : which itr is suitable for me
sir if my income of source is teaching then which itr is suitable for me

Ravi Teja says : Customs
Hi isr, In FY 2011-12 the company had done a project and received some commission from the Vendor. The Vendor received the amount from the customer. In the commission received by the company there is Rs.3,20,000 included which is payable to customs. In Financial year 2011-12 the company has not paid the customs duty. While finalising the accounts even that RS.3,20,000 has been recognised as income for the company. Provision also not done for the amount payable to the customs. But in FY 2012-13 the Company has paid that Rs.3,20,000 to customs through bank cheque. But the receipt was issued in the Vendor name by the customs department. While finalising the accounts for FY 2012-13 how to treat this amount and how to maintain in books of accounts? Please help me Thanks in advance

vijay says : Share Issue
Whether private ltd company issue it share at less than it book value?

Vaibhav Jandey says : Revenu stamp on bank payments ?
Dear Sir, Could you please clarify the affixation of revenue stamps. Is is applicable for bank payments also exceeding Rs 5000 ?

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