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Somebody

I saw a Query by Mr Satyen Sharma and its reply by expert Mr Jitender.
What I feel is that basic theme of the Query is unanswered. Obviously, Mr Satyen is under notion that Investments in ELSS U/S. 80C are taxable on maturity and it is this notion which gave rise to the Query. Reply by the Expert does not indicate that this notion is wrong, and hence, the entiry expert's relply is fruitless.
THIS TYPE OF SUPERFLUOUS REPLIES ARE FREQUENT AND INCREASE THE CONFUSION OF THE SEEKERS.
I HUMBLY REQUEST TO THE EXPERTS TO KINDLY GIVE APPROPRIATE REPLY TO THE QUERY POSTED. MEMBERS SEEK HELP AND GUIDANCE FROM EXPERTS - NOT JUDGEMENTS.


SHAYAK DAS

RESPECTED SIR/MADAM
I AM STUDENT OF CA (FINAL) AND DOING MY ARTICLESHIP.I WANT TO DO COMPANY SECRETARYSHIP COURSE FROM ICSI.I WANT TO KNOW WHETHER I SHOULD TAKE THE PERMISSION BY WAY OF FORM NO-112 BEFORE JOIN THE COURSE OR CAN I FIRST JOIN THE COURSE THEN TAKE PERMISSION IN APPROPRIATE MANNER.PLEASE RESPONSE AS SOON AS POSSIBLE
THANKING YOU
YOURS FAITHFULLY
SHAYAK DAS


umasankar.s

I want to join Indirect tax class with Mr.Vaitheeswaran. Where I can find him? pls tell me?


CA Satyen Sharma
24 March 2008 at 22:52

Investments u/s 80C

Dear All
My query related to investments u/s 80C wherein funds are locked for a 3 yrs period. If for instance I invest in an ELSS Mutual Fund, I get units allotted in my name. After a 3 yr lock in period, it is taxable, if redeemed.
My question is that whether MF is considered as security under the Securities Contract regulation Act, if yes, then it would be a long-term capital gain on securities, which would not be taxable.
Then why is the whole amount subject to tax wherein the principal amount is also involved along with appreciation
Pl. suggest.
C.A.Satyen Sharma


khyati parekh
24 March 2008 at 22:17

tax paid on URD PURCHASE

TAX PAID ON URD PURCHASE IS ALLOWABLE AS INPUT TAX CREDIT?
IN ANNUAL RETURN OF A FIRM IT IS SHOWN AS VAT PAID IN EXCESS. WHAT DOES IT MEAN?


bhumika
24 March 2008 at 19:59

Permanent Account Number CARD

while filing an ITR of a company I came to know that it has more than 1 PAN number.Is it possible?How? If yes,than which is the valid number should be used while filing ITR etc. And what is the procedure to cancel the invalid PAN number. I know that I have to surrender one card and inform my IT Deptt. about surrender of one pan no.if i will have more than one PAN then it will cause penalty. But i have one pan with me one in it dept two different number how to track all the no frist


CA Praveen Chopra

Can anybody let me know 'accounting code for payment of service tax in respect of renting of immovable property'


umesh_mishra16
24 March 2008 at 19:38

Ex Serviceman Pension

Dear All,

One of my senior colleague is a retired Colonel and is receiving Pension from Government of India since last one year. Now this year, he will be filing return of Income Tax towards salary receiving from current organisation.

Should while computing the Gross Taxable Income, pension received from Government would be considered as a taxable income or is it tax free, being paid to ex-serviceman?

Regards,
Umesh Mishra


Somebody
24 March 2008 at 19:37

Valuation of Stock

The closing stock of traders is valued at cost or market price, whichever is lower. I want to know that what is the meaning of “cost price” for any item which remains unsold in the second consecutive year. Is it same the price at which it was valued at the end on the preceding year (as it is the input cost for the current year), or the actual cost incurred in the preceding year.
Kindly suggest that which is the cost price of share of a company XYZ.
(A) Actual cost in Financial Year 2005-06 : Rs. 10,000/-
(B) Market price on 31-3-06 : Rs.6,000/- (considered as the value of closing stock and brought forwards in the Fin Yr 2006-07).
The item remains unsold in Fin Yr 2006-07.
(C) Market price on 31-3-07 : Rs.8,000/-.
What should be considered as Cost Price while valuation of closing stock as on 31-3-2007 : (A) Rs.10,000/- or (B) Rs.6,000/-.


nilesh agrawal
24 March 2008 at 19:29

wealth tax

we observe since last 4 to 5 years no body is filing wealth tax returns in our region , now department is issuing notices for filing of returns, will you please guide me how to handle the problems of earlier year & current year wealth tax return if an assesse covered in filing criteria but not yet filed.







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