Is IT refund taxsble or exempt income?
Where it is mentioned in IT act?

Dear Sir,
One of my Client has changed his CA and his former CA not telling the e filing password, I tried to reset password on PAN details, but new password sent on the e mail ID of that CA. Then I mailed on validate@incometax.gov.in, but no responce still after 15 hours.
What is the way to solve the problem.
Please advise me.

Our company is into trading of software goods.As per our advice of statutory auditors since the royalty definition has been amended, tds is applicable on all the software purchases from our vendors whether the service tax has been charged on it or not. Also, let us know the date from which the TDS is to be deducted on software purchases.

A RESIDENTIAL PROPERTY IN A JOINT NAME WHICH IS ACQUIRE BEFORE 1980.SAME IS SELL OUT IN THE YEAR 2006 THE GAIN ARISE FROM SELLING THE PROPERTY IS DISTRIBUTED TO TWO PERSON IN THE SAME PROPORTION. BOTH ARE PURCHASE ANOTHER RESIDENTIAL PROPERTY WITHIN TWO MONTHS FORM THE DATE OF SELLING. THE 1ST OWNER OF SELLOUT PROPERTY IS PURCHASE RESIDENTIAL PROPERTY IN THE NAME OF HIS WIFE AND 2ND OWNER OF SELLOUT PROPERTY PURCHASE RESIDENTIAL PROPERTY IN THE JOINT NAME WITH HIS TWO SON.

CAN IN BOTH THE CASE CAPITAL GAIN EXEMPTION AVAILABLE? UP TO WHAT AMOUNT?

Dear Experts

Please guide for below situation
An ancestral property purchased in 1979 has been convertedc from agricultural to residential.
Now a construction project is going on under an agreement with developer to build flats on the same.
Please explaib tax implications
1. When will capital gain arise on sale of flats or now at the time of construction
2.What exemption can be claimed
3. What will be sole consideration
4. Whether cost of conversion can be taken as cost of improvement
5 Can assessee gift all his share to his sons without attracting tax


According to a case law, land and flats are two different assets and should be taxed accordingly

Please clarify

Regards

Dear Sir,
One of my client incurred some preliminary expences like Sales tax registration fee etc. at the time of set up his business in FY 2011-12. Now my query is that, should I show it in the debit side of P&L A/c as expences or I should subtract it from Capital of the proprietor in the Liabilities side of balance sheet.
Please advise me.

My client being an Individual booked from builder under construction flat in Aug 2006 . It will be ready for possession in Oct 2012 . I want to know the following .

1) If He sell before possession , will the gain be LTCG ?


2) If He sell immediately after possession ( means after registry in my name ) , will the gain still be LTCG or He has to wait another 3 year after possession to avail LTCG ?

Dear Experts,

We are making the payment of following re-imburible charges to Custom Clearing & Forwarding Agents which are re-imbursible in nature :

1. Quota Fee
2. Chamber of Commerce Fee
3. Custom Duty/Demmurrage
4. GSP Fee

Is TDS u/s 194C is applicable on above payments since all above are actuals and re-imbursed to Agents.

Mohan Saxena

Audit is compulsory if net profit is less than 8% of turnover. Section specifies 'Income from Business or Profession' should be atleast 8%.

So 8% is 'Income from Business/Profession' OR (PAT/PBT as per ITR4)?

Thanks in advance.

what is "below the line" in Accounts

please let me know