I HAVE PAID FULL PAYMENT OF FLAT CONSIDERATION 15 LAC IN MAY 2012 TO THE BUILDER AND ALLOTMENT LETTER OF FLAT IS TAKEN NO AGREEMENT OF SALE DEED IS REGISTERED.

SUPPOSE IF NOW SALE DEED IS REGISTERED FOR VALUE OF CONSIDERATION PAYMENT ALREADY MADE FOR RS 15 LAC WHEREAS MARKET VALUE AS PER STAMP DUTY REGISTRAR IS RS 45,00,000/-.

WHETHER SECTION 43 CA ,50C, 56 (VII) B& C OF I TAX APPLICABLE TO MY SUCH AGREEMENT MADE.PL LET ME KNOW THE COSEQUENCE UNDER I TAX ACT IF DONE AS ABOVE

An affidavit from the Managing Trustee that there has been no infringement of provision of section 13 of the I.T. Act since the Inception of the Society/ during the last three years Trust, whatever is applicable.

An assesse filed return of income for AY 2012-13. Income as per section 115JB comes to Rs. 702884 & Net profit as per P/L Account comes to Rs.0. Therefore, Self Assessment Tax has been paid under MAT provisions@ 18.5% along with Cess which comes to Rs. 133935. Now, the case got selected for scrutiny under section 143(3)under CASS for heavy unsecured loan. Now the AO added Rs.847306 on several grounds and finally assessed income at Rs. 1550190. Now he computed tax @30% on Rs.1550190 i.e Rs. 479009. I want to know whether the AO contention is right on calculating tax @30% instead of 18.5% & also whether AO has the right to make addition on other grounds than the ground based for CASS. waiting for your reply.

What is wealth tax....
IF the market value of the asset decreases as compared to the last year .. then weather wealth tax paid or not .

and for final preparation of IDT which book is suggestible

Dear Sir,
Where assessee is opting section 44AE. While filling Part P&L of itr4, whether the gross receipt can be given in the column of "Gross receipts"

Or
I have to give only net profit figure there?

Please clarify.

I sold my flat which was purchased in aug 2008 in may 2014.The purchase price was 22LakhThe interest on loan was approximately 4LakhThe sale price is 41,50,000How to calculate capital gains or loss.Can capital loss be adjusted from current years tax liability from salary ?Pl help

sir , we invest 2000 in bond of helios plantation and developers ltd on 6th March, 1997 maturity date was 6 th march, 2012 but we forgot to get payment and company status today I watched is dormant company..can I eligible to get my bond in any course...please suggest sir

sir,
A company, XYZ, has 100 acres of land in its own name. In 2009 it had availed a loan against this property.When there is warrant against this property, owner of the company pledged this property to another one,A, and settled bank's claim in 2011 April. But this is known only to the owner of the company.But accounts does not shown this adjustment, i.e. bank loan is existing in the balance sheet.The owner is compelled to sell 10 acres on behalf of "A" in May 2012.But entire amount is handed over to "A", company has not availed any money, under the agreement between owner and A.Another 10 acres of this property is transferred to one of their employees under a compromise. These transactions are not recorded in accounts.the company prepared Balance Sheet only upto 31/03/2011.
1. In which year these transactions are recorded?
2.What was the capital gain of the company?
3. how much amount are paid to Income TAx?

a minor received a property from his grandmother who died some years back and the minor is receiving rent on that property which exceeds Rs.10,00,000/- per annum.

my query is who has to file return for the rent received ??

What will normal/General rate of Gross Profit incase of business of Petrol Pump.