pankajkumar gadi
30 October 2014 at 22:25
1. A partnership firm comprising business of Builder and Land developer can take the benefit of Accounting Standard 7 “Construction Contracting” and can avail the benefit of Revenue Recognition in valuation of closing work in progress.
2. While valuing closing WIP, can it be added the finance cost (Interest on Capital) and administrative expenses (Remuneration to Partners) since all the partners are working partners.
And also please give the sections, case laws applicable to the case.
NITIN SHARMA (LL.M.)
30 October 2014 at 15:50
Dear Sir,
In case of civil contractor who have received payment from PWD (govt. deptt.). While filing ST-3 whether he can claim exemption for the said payment by citing notification 25/2012?
Please clarify?
pooja dedhia
30 October 2014 at 15:31
TO DETERMINE THE Relative party transaction , what are the percentage are require to check as ownership in relation to relative party transaction ?
what is the std benchmark to judge the relative party transaction ?
my brother has 20% stake in firm as a partner .Both firms are under audit u/s 44ab . has reporting is require manadatory about transaction with other firm .? why?
hdshardik
30 October 2014 at 14:32
private ltd company can put excess current account balance in fixed deposit carrying interest with the same bank ?
what documents will require to send to bank as a private ltd co .
and is there a freedom to private co if he wants to withdrawal money after 3 months ?
Bhaskar
28 October 2014 at 00:24
Dear Sir,
I heard there is recent amendment of income tax related to long term capital gains. Can someone help in below case
1) I already have flat and staying in it (E.g. Flat A)
2) I sold plot (E.g. Plot B) and having long term capital gain out of sale proceed
3) I invest sale proceed of plot B in buying new flat (E.g. Flat C)
Can I claim Sec 54F benefit (relief from the tax on long term capital gains earned from property) for Flat C after recent amendment ?
Thanks,
Bhaskar
Arvind Pal
27 October 2014 at 16:58
Mega power projects are enjoying benefit of notification No. 12/2012-CE when the goods such as items of machinery, including prime movers, instruments, apparatus and appliances, control gear and transmission equipments, power cables used within the power generation plant, auxiliary equipment (including those required for research and development purposes, testing and quality control), as well as all components (whether finished or not) or raw materials for the manufacture of aforesaid items and their components are supplied to them. In the case of power cables there appears a condition that the power cables used within the power generation plant. The question why it has specifically been stated that the power cables used within power generation plant. Whether plant is separate from power project. Whether there is any scope for use of power cables other than power plant. Kindly clarify.
Khushal Singh Rawat
27 October 2014 at 07:57
In 26AS of my client shown extra TDS amount which is not related to my client. He informed his deductor about this. but his deductor no rectify till date. Now how is possible ITR return in this condition.
Khushal Singh Rawat
25 October 2014 at 20:54
Sir,
Pl tell me any type of online coaching in taxation after llb for skill development
Amit
24 October 2014 at 20:35
Hello Sir, I am paying EMI against home loan of 20 Lacs since Feb 2012. Now I am selling the same house in 36 Lacs. How much tax do I need to pay & how to save that tax?
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Liability of service tax-transfer of ownership from developr
Dear Sir,
If a person bought land from government on lease for re devolopment purpose. due to financial hardship he is not being able to pay lease amount so now he wants to transfer ownership of land to another devloper. Will this attract service tax liability on the person who bought the land from goverment on lease. ?
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Thanks & With regards
Gaurav