CA RAMESH KUMAR AHUJA's Expert Profile

Queries Replied : 1508

About me

I am a science graduate, law graduate and Chartered Accountant. I have also qualified DISA from ICAI.

I am in practice for about 30 years and take care of Income Tax, Accounting, Audit, Company Law, Service Tax, Bank Audits and System Audit assignments of corporates, LLPs, Firms, Individuals, AOPs etc. I have also been attached to Capital Market Companies where I was heading Business Monitoring department with profile of monitoring of Policies, development of new business strategies, formulation of methods and procedures for the development of business and ways to increase revenues and control the costs.

My other interests are listening Music, teaching pupils, net surfing and playing Badminton. I believe in Karma which is ultimately followed by Destiny.

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Amit Kumar Mishra says : VAT or Service Tax
A newly incorporated firm is engaged in Advertising Agency Business (i.e. making and preparation). It designs and prints flex hoardings for its clients. It has an annual turnover of around 12 Lakhs. The purchase bills for raw materials are of 4% and 12.5% VAT items (obviously, the firm had to pay vat on purchase) eg, it paid 4% VAT on purchase of Flex, 12.5% on purchase of clips etc. My questions are: 1. Does the firm, being an advertising agency, need to file VAT Return or Service Tax Return. 2. If the firm needs to file service tax return and charge service tax to its clients, then on what value should the tax be calculated. (Whether the cost of raw materials consumed should be considered for computing service tax or should be excluded...as the cost of all the raw materials cannot be bifurcated precisely e.g. ink used in printing) 3. Can the firm enjoy the VAT input on purchases. If yes, how? 4. What will be the best way to record purchases and sales in the books of accounts (plz give specimen entry) 5. The firm has already got VAT Registration. In case VAT is not applicable, what should be done in present circumstances.

VIKRAM VIJH says : depreciation on library books
the icai has issued a technical guide on audit of educational institutions and separate deprecation rates have been prescribed. the rate for library is 50% irrespective of number of days it was put to use

Praveen Pandit says : Share Allotment
Dear sir Can you provide me share allotment, share holder register, formet for pvt. ltd. company if you can plz treat as urgent thanks & regards praveen

udit says : transfer of articleship
Sir I am a student of PCC and have appeared in PCC this Nov, 08. I have been under training since last 2 years. I am facing certain problems regarding training such as - doing personal work of the employer such as picking his kid from the school, market work etc. - excessive office timings (10.30 - 6.30 monday to saturday)in normal circumstances and even more as there are no other employees in the office and only 5 trainees. -taking back the stipend in cash I have requested him to give me transfer, but he has rejected the same. On the contrary he has told me that he will write about my character to upper authorities which will affect my future very badly. These reasons are causing very much difficulty in my life. I want to know is there any right of a transfer with the student and if not what's the procedure of getting transfer. I can not reveal my identity due to personal reasons. Please help me and provide full details as I desperately needs transfer from current employer.