My client has carried forward losses from his business of Rs.450000/-
This year he has earned a profit of Rs.150000/-He is a resident male not a senior citizen.
How much loss can be set off against his income of Rs.150000/- this year?Whether Rs.40000/- to make his tax NIL?Or Rs.150000/-? What is the position in the Act?

274(1)(g) Is it applicable to Private company. Doubt is beacause condition is

(a) the default is done by a public company and

(b)proposed appoinment is in a public company.

Please clarify Bad Debts & Provision for Doubtful Debts is allowable expenditure or not under Income tax Acr

whether dividend received on tax saver mutual funds at the time of maturity and interim period whether taxable or exempted

Please provide me the FBT Calculator for the Assessment year 2008-09 or else give me the information regarding Any source from which I can get the same.Thank You.

Can any body say will M.P.VIJAY KUMAR TAKE CLASSES FOR NEW BATCH IN ACCOUNTS

Can any body say will M.P.VIJAY KUMAR TAKE CLASSES FOR NEW BATCH IN ACCOUNTS

I sold a plot of land and got capital gain(LTCG). I have 2 questions:

1. I borrowed loan from Bank and with that capital gain, repaid the loan. I feel that this is considered for investment. NOTE: The flat is not registered yet. If I repay the loan withing the first year of the CG, then i feel that i have satisfied the investment criteria for LTCG. Am i correct

2. When is the purchase is considered for Income Tax (for claiming CG benefit) purposes?
(a) is it at the time of registration
(b) is it at the time of signing the agreement to sell

Thanks
G

I have filed e-return online and then manualy filed the acknowledgement within 15 days. However the acknowledgement has only the date stamp of the department indicating the date and ward where the return is filed. however it does not have the serial number stamp on it. Is the return is properly filed or else it will be considered as no return filed because serial number stamp is not there???????

A Co. has commenced a hostile tender offer to purchase all outstanding stocks of other Co. at Rs.61 a share. the other Co. is not satisfied with the offer as it thinks inadequate.so now this other Co. is reviewing a possibility of major recapitalisation.
effects of recapitalisation alternative :
maximum borrowing capacity Rs. 1738095
at a pre tax cost of debt of 10.5%
borrowings already there Rs. 172409
additional debt that can be taken Rs.1565685.

my query is now if this additional debt is taken what all things will be affected & effect on co.s book and market value balance sheet (items).Will M & M Approach be useful here?
Sir/Madam i request u to foward me the details of this case study.
thanking you,
Yours faithfully,
Manjushree Ursal
CA Final Student.