Is there any minimum limit in Rs.....i.e. minimum amount of total transactions for applicability of International transfer prcing provisions on an entity? eg. in domestic transfer pricing its Rs. 5 crore.

Please reply. Its very urgent.

Dear Sir,
whether loss on sale of asset is allowed for a company, if block ceases to exist and there is two losses one is for the income tax purposes and the other one is for the companies act purpose.
whether loss on sale of assets as per companies act is added and the loss as per income tax es deducted while calculating taxable income. please provide the treatment thereof.

I am a retired teacher. I used to receive my pension since 2006. In the FY 2011-12 I received pension till November 2011. From December 2011 onwards I stopped receiving my pension. After repeated notices to the concerned authorities I started receiving my pension again only from May 2013. I also received the arrear pension from Dec'11 to March'13 in May 2013.

I have paid the income tax for FY 2011-12 & FY 2012-13 by self calculating my income including the pension which I didn't received during this period.

My question is that what should I do now. I have not filed my Income Tax return for AY 2012-13 & 2013-14 yet. I want to file them both. But how should I allocate this Arrears received in FY 2013-14??

Need serious guidance and help...

whether sale of trading goods by a partnership firm to partner amounts to sale or not as per income tax act?

Dear sir,
i am doing a govt contract and the work order is under my personal name. Now, although the work order is under my name, we are 3 persons executing the work. Now the profit also has to be shared between all four of us. So how do I distribute the profit. Say our work order amount is Rs. 8 lac, expense Rs. 4 lac. So gross profit out of the work is Rs. 4 lac. I already come under 30 % tax bracket.
My questions are
1. Now how do I distribute remaining 4 lac between four of us.
2. Do I need to take out my 30 percent tax amount before distribution. Or what will be the exact distributed amount amongst 4 of us.
3. Do I need to consider the distributed Rs. 3 lac ( given to other three guys) under expenses.

How will the Cost of Acquisition & Capital Gains be calculated for a Property if a person has bought it in 2011-12 taking a Bank Loan for 20 years & sells after the Loan Repayment period is Over i.e. in 2031-32. (For Simplification purposes , let's just consider that entire Property bought solely from Loan amount)

Details -

1)Loan Amount - Rs. 50,00,000
2)Tenure - 20 Years
3)Rate of Interest - 10 %
4)Monthly E.M.I. - Rs.48251.08
5)Property sold at Rs. 3,30,00,000 in 2031-32

in what circumstances does a minor need a pan card for kindly reply and also gve me some articles where i can read what the law says

Whether deduction u/s 35(i)(ii) or 35(i)(iii) or 35(2AA) is available to all assesee e.g. salaried employee?

X Co. has received money for business purpose from holding company and on certain sum, TDS was made and deposited with IT Dept. Subsequently X Co. turns into losses and lender, being holding company waives off the amount payable.
Now the question is - whether the amount waived off is to be treated as income u/s. 41(1)for X Co.?
Also, can X Co. claim TDS paid to the IT Dept as expenses? If yes under which section.
Kindly let me know relevant case laws in this regard.
Thanks in advance.

I have my client who is presently doing business transaction with the companies of Bhutan. The Bhutan Companies have deducted TDS on his income. Now the problem arises that while filing ITR 4, the TDS deducted at Bhutan is to be filled for claiming relief, the form requires the Article Number to be filled. I have requested the Income Tax Department to resolve the query but the answer was unsatisfactory. Please resolve my query.