Dear sir,
The organisation is carrying municipal solid waste management activities and registered under socieity registration act 1860 and having 12AA registration.

Q1 - These solid waste collection and transportation activities is coming under Charitable activities under preservation of environment the fifth categories of definition u/s 2(15). Gross receipt is more than 20 Crore
Q2- Can it be allowable u/s 11 of the IT Act or will be treated as a businees u/s 11(4A)

Dear All

Mr.X is a partner in M/s.XYZ Enterprises.Mr.X transferred his personal Machinery and finance amount to the M/s.XYZ Enterprises at an equal cost of Rs.1 Cr.

Now the machine is working on behalf of the firm and getting income as hire charges.The firm is not having any bill against transfer of machinery and finance amount.

Now my query is, is it eligible to claim depreciation and finance charges on machinery in firm books.

Kindly clarify.

can anybody guide how to create capital for newly formed HUF?

Can any one clarify me One my client has not filed his income tax return for the A.Y 2011-12 for which no tax was due.Now there is a option to file the return. Thanks in advance

We are a construction company engaged in construction of residential flat. We have purchased various electrical items required for electrical wiring in those flat from a dealer of electrical items. Now my question, are we liable to deduct TDS while paying the dealer. As per my knowledge TDS is not deductible for raw materials. please suggest me in this regard.

Can u please advice me regarding the case where payment is made by the debtor on behalf of the company to the creditor.eg Company purchased from A and makes sales to B.Now B is making payment to A on behalf of the company.Company passed the following adjustment entry

Creditors A/c Dr.
To Debtors A/c

Is there any Tax implications involved in the above case ??if yes what would be the consequence??Please do reply your views at the earliest.

How to treat and record the expenses incurred for the transaction Revaluation of of land & building ? In financial statements ? What is the cardinal principal of taxation?

ABC is a partnership firm and XYZ is a propritorship firm forms a Joint Venture PQR. My question is who will file income tax return whether individually or as a Joint Venture firm

Income of an RWA is exempt from tax based on the concept of mutuality. However, income from non-members such as renting of a space to a shop, collection from non-members for advertising on the notice board is taxable in the hands of the Resident Welfare Association. What is the rate of taxation applicable to RWA. Is is the same as individuals (as per the slab) or a flat rate of 30%.

Regards,
SP

Professional Tax for AY 2007-08 to AY 2012-13 was booked in AY 2012-13, but the same was paid in AY 2013-14 before filing return of income. Whether the same will be disallowed, if yes, in which section it will be disallowed?