What is the exact meaning of lineal ascendent and lineal discendent in respect of gifts received from relatives? pls let me know this quickly..

M/S XYZ is a partnership firm exclusively engaged as Direct Selling Agent (DSA) of vehicle loans of a Bank. The Gross Receipts of the Firm is Rs 60 Lakhs (App) during the FY 2006-07. As Per scrutiny guidelines of CBDT for FY 2007-08, under para 2(xiii), "All cases of professional with gross receipts of Rs 20 Lakhs or more if total income declared is less than 20% of Gross Professional receipts.""
The question is "Is M/S XYZ is a professional firm falling under criteria 2(xiii)of Scrutiny Guidelines or it is not a professional firm?

do a charitable trust running a school having a turnover of 40 laks + , will tax audit be applicable to them ( sec 44AB). the turnover of the trust is 6120000

Hi.. I came before with a case..please read..

Facts...
Mr.X is a father of NRI son..He gave his dad a certain sum, which was invested on urban lands in the name of Mr.X and Mrs. X. Later Mr.X & Mrs.X had sold out those lands as individual plots,by making land marks and some earth works done. A part of the amount received was again invested in vacant lands. (The whole process was done within 12 Months)

My Query is:

What will be the tax implication and what steps should be taken for Tax planning?

1.I have given advance towards expense for more than 20,000

2.I have made advance payment of more than 20,000

does above two cases are disallowed ? explain with provision if possible

What is the procedure for filing the annual TDS return ?
Plz reply in details ?

how to calculate 'book-profit'u/s.115JB?.
can i know it in detail?

an partnership firm(an export house of furniture, textile) having turnover 125 crore ,gp ratio is 40% & np ratio is 22%.

there are huge value of stock of rs 30 crore & it is continusouly incrsing from last few year. this year phifically varification of stock was conducted & a shortage of rs 10 crore was found, inspite of this there was devaluation of stock (due to damage & obsolence, out of fashion etc.)of rs 2-3 crore.
now the firm wants to writeoff this amount.but how ,& what will be the consequance of this.& what type of avidance should be collected.

LET ME KNOW THE RATE OF TDS TOWARDS FOREIGN PAYMENT ON ACCOUNT OF AMC OF SOFTWARE

if i am following mercantile method of accounting, the gross receipts credited to P/L A/c includes service tax yet to receive and as such the service tax liability appears on the liability side for payment to Govt. Now whn computing income tax why shall we disallow service tax appearing as liability in the B/S u/s 43B, whn the seller is yet to realise the amt frm the buyer. pls answer.