5 Replies
Tehsinkhan Pathan
(CA CMA DISA(ICAI) B.COM)
(3956 Points)
Replied 04 July 2012
LC is like one type of guarantee provided by buyer's banker to seller if buyer fails to pay the amount then bank will pay on behalf of buyer and then bank will recover from buyer..
it is mainly used in international transactions.....
Relevance in context of Stock audit :-
For calculating Drawing power, goods purchased under LCs are not to consider otherwise it will result in the double finance on same stock
Chirag Shah
(Proprietor )
(44 Points)
Replied 05 July 2012
trust had paid expense towars making a cd for advertising.
IN that case is TDS deductable and under whic section?
kunal
(article)
(22 Points)
Replied 05 July 2012
what are the exceptions for affixing a revenue stamp on payment above rs 5000
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