CA DT paper

Page no : 3

(Guest)

is indexation allowed on cost of acqusition of shares?.... if yes then it becomes greater than the sale consideration. Mine it was capital loss. was that correct?

CA Saurabh (PRACTICE) (1019 Points)
Replied 15 November 2015

cost of acq is to be considered at rs 150000 nt 600000.. thats y u end up in capital loss i guess.. cost related to resulting co we shuld consider nt demerged company

Karan Kothari (CA Job) (64 Points)
Replied 15 November 2015

Saurabh Transport expense allowed... Transporter gave his pan No

CA Saurabh (PRACTICE) (1019 Points)
Replied 15 November 2015

okay.. thnx buddy..

NITI BHATIA (STUDENT) (22 Points)
Replied 15 November 2015

the paper was difficult as well as easy...hope for good marking

chhaganlal (Student) (46 Points)
Replied 15 November 2015

long paper

MAYUR BIYANI (Assistant Manager-Taxation & Accounts) (142 Points)
Replied 15 November 2015

Transport exps disallowed u/s 40 a ia... Given PAN no den allowed but w.e.f 01.06.2015...so that was not applicable to us...hence disallowed

MAYUR BIYANI (Assistant Manager-Taxation & Accounts) (142 Points)
Replied 15 November 2015

And regarding fish product...both will be disallowed as only the producer of fish n fish products are eligible to whom payment can be done above 20000 in cash...fishermen n middlemen are not producer as per stated in rule 6dd of rules...

CA Saurabh (PRACTICE) (1019 Points)
Replied 15 November 2015

refer circular 10/2008 dted smmwhr in dec 2008.. it clearly states producers includes fishermen.. thus fishermen is out of d purview of d said disallowance