hetalsangoi
06 December 2012 at 12:38
my firm if do not claim deprecation on the purchased property and my firm is planning to sell after 4 years what benefit is available d on account of not claiming the depreciation?
what are the section are releveant to go in detail?
Dinesh RAthod
08 November 2012 at 11:40
My father bought property in 1998 from an individual buyer in Gurgaon however when the papers were drwan up, my grand fathers name was written wrong in the property papers. Does it have any affect when my father sells the property? if yes, how can this be changed since my father cannot move now due to old age?
dipak jain
05 November 2012 at 18:45
Sir
meri society ke naam se school work kar raha hai .f.y.2011-12 mein mere school ki income 1426000.00 thi .Meri society 12A and 80G mein registerd nahi hai .mujhe 1426000.00 income par kitana tax pay karana hoga ya mujhe koi exemption incometax law mein mil sakata hai.
Debashis Mandal
01 May 2011 at 10:08
Respected Experts
If a Partnership deed of a running partnership business is lost & no copy of such deed exist then what to do - does the Partnership business is automatically desolve - again that deed was registered through Notary Public, but not registered under partnership act then can such notary help us in this regard or not
Thanks
Debashis Mandal
Anonymous
30 April 2011 at 12:25
respected sir,
my self ashish kamthania advocate and practicing in taxation in rampur up.
near by me a associate of two non law graduate persons are open his office and start practicing in taxation (income tax, vat, service tax & others).
both of them opened joint office, named
R.M.ASSOCIATES
first of them is m.com but never completed his LL.B. but on the office flax board he write his name and shows degree M.COM. LL.B.
and second of them is phd in commerce and now doing LL.B. but on the office flax board he write his name and shows degree Ph.D. M.COM. LL.B.
but on the office flax board both of them not write advocate but start practicing as advocate. they effects my practice my 50% client is well known of them and those shifted from me to them.........
what is the write procedure to save my clients and legal proceeding to save those clients who is going to cheat by them.
ashish kamthania
advocate
e-mail : kamthaniya@gmail.com
mobile : 09258010105
K.K.VISWESWARA RAO
27 April 2011 at 15:10
Dear Friends
Please clarify Private or Public limited Company is required to compute Book Profit u/s 115JB of the I.T.Act even though there is no Book Profit.
Example
Other Income - NIL
Ag Income - 6,00,000
Less : Expenses
( Including Ag Expenses)- 3,00,000
=======
Net Profit as per P&L A/c 3,00,000
=======
The Company has not computed MAT as the profit is exempt u/s 10 of the I.T.Act but the AO is asking for compute the Book Profit by claiming exemption and submit the Audit Report in Form 29B.
If Book Profit is calculated by claiming exemption as per Explanation- 1 of Section 115JB. The Company is required to get Report from the Auditor.
Please let me know exact situation to get the Audit Report in Form 29B.
Thanks in Advance
K.K.VISWESWARA RAO
Tax Advocate.
Sanjay
21 April 2011 at 19:27
I would like to get in touch with a person who can help me create a trust.
Also advice if registering under trust act registration under comanies acti is beneficial.
Need help to create a entity to do charitable activities.
Am in Koper Khairane, navi Mumbai. Anyone in the vicinity may please contact me.
sunil
21 April 2011 at 14:50
I PURCHASED PLOT OF LAND IN DEC 2009 PRICE 3,45,000=00.
SAME I SOLD IN MARCH 2011 FOR RS. 6,00,000=00.
THIS WAS DONE TO PURCHASE SMALL PLOT FOR RS. 3,00,000=00 AND CONSTUCT HOUSE. PLOT WAS PURCHASED IN APRIL 2011. AND CONSTRUCTION WILL BE COMPLETED IN ONE YEAR.
WILL I HAVE TO PAY CAPITAL GAIN TAX? COST OF CONSTRUCTION IS APPROX. 10,000,00=00
SUNITA
Soumik Choudhury
21 April 2011 at 03:21
Sir,
I will be highly obliged if you kindly clarify the following doubts of mine in the purview of The West Bengal Societies Registration Act 1961 –
Can any Governing body member &/or Office Bearer serve two societies (working on same subjects) simultaneously in the same capacity? Say, as Secretary or Treasurer.
Thanking you
Sincerely yours
Soumik Choudhury
Member Strength 9,49,910 and growing..
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Treatment of govt.money lying in personal deposit
AN ASSESSEE WHO IS A PUBLIC SERVANT AND BROUGHT VARIOUS FUNDS IN CASH AFTER ENCASHING CHEQUE ISSUED BY HIS CONTROLLING OFFICER .IN COURSE OF HIS OFFICIAL BUSINESS AND MEETING HIS OFFICIAL EXPENDITURE, HE USED TO DEPOSITS BALANCE AMOUNT IN BANK WHICH WAS OPENED EXCLUSIVELY FOR OFFICIAL WORK.THE A/C WAS IN THE NAME OF ASSESSEE. UN-FORTUNATELY, THE CASH DEPOSITS DURING THE EXCEEDED 30 LAKHS AND WAS SERVED NOTICE FROM INCOME-TAX. HE HIMSELF APPEARED BEFORE THE A.O. AND FURNISHED DOCUMENTS. THE DEPT. OF INCOME-TAX ALSO CROSS EXAMINED THOSE TRANSACTION FROM ASSESSEE SUPERIOR OFFICER. THE OFFICER ALSO CONFIRMED THAT THERE IS NO DEFALCATION AGAINST ASSESSEE. THE ASSESSEE ALSO FURNISHED FUND UTILIZATION CERTIFICATE GIVEN BY THE AG.NOW THE QUESTION IS "1.IF THE FUND/MONEY BELONGS TO GOVT-HOW IT COUDL BE PROVED.2.IF THE UTILIZATION CERTIFICATE HAS BEEN FURNISHED THEN HOW THE RESIDUE BALANCE APPEARING IN AND BANK A/C.3.IF THE RESIDUE AMOUNT IS APPEARING IN THE A/C- WHY THE SAME SHOULD NOT BE TREATED AS ASSESSEE INCOME AND BE BROUGHT UNDER TAXATION.KINDLY SOME VIEW ON THIS MATTER WITH SOME INSTANCES WHERE COURT HAS GRANTED RELIEF.