As per Budget 2012,


New section 56(2) has been inserted in case of a company not being a company in which public are substantially interested wherein the Share premium received by the company on issue of shares in excess of the Fair Market Value to be treated as income under the head ‘Income From Other Sources’
(w.e.f 1/04/2013).


Please guide me how to calculate the FMV of the shares? ?

I have a transport and also a truck which is going for carting to anther state with
loading some goods to one industry to another industry.
i want to know about my two profession
1. my own transport (commission income)
2. truck carting income (which includes expenses) when we less from carting we
received net profit
so i want to know which profession i can use for sec. 44AD for less tax and guide me
about second profession how do i include it in trading a/c ?
thanks..

Could somebody suggest the ways by which a company can build its capital with least tax after the amendments of Union Budget 2012-13.

i want to know that which practise book referred for Income tax concpets and practise.

there is long term capital gain on the previous year.this gain is kept with bank & lock that period or it is not used as per the section of the income tax.


but assesses is not able to pay tax on long term capital gain.

yet still no notice is issued to assess see.

to minimize the interest & penalty ,what is the duty of the assesses?

can he himself do take initiative to writing the letter of hardship?

how is it make sense?

Dear Sir,

I had made a FD in joint Account.I want to know wether I am free to show the proportion of interest and Investment in the respective personal account the way I want to.


Further in whose Personal file should I be claiming the TDS refund.

It would be great if you could make me aware of any relevant provision in the IT act.

I have got the digital signature registered with the I Tax Deptt. When I proceed to sign the return in the I.T. Portal with .pfx file it gives a message-
" Can not reed the file for signing C:\Fake path\ITR4_ABVPL8198C.XML" I NEED TO BE GUIDED as to the mistake I may be committing.It is urgent

I will be thankful

(V.K.Gupta)

I have filed my it return (Propritership) with 44 AD and having @ 8% taxable income Rs. 102116/- while my taxable income as per profit & loss a/c is Rs.156436/-

which amount should be shown in capital a/c and also in computation ?

any j.e as on 31st March for that ?

pls guide me its urgent

A pvt Ltd.company have its assets but not running business currently. So there is no turnover and profit during the year.
Can the company charge depreciation on its assets (Machinery etc.) for the year?

Dear Professional experts, please clear my query relating to sec 40A(3)of I.T Act:

An assessee who purchase goods on credit worth Rs 1,20,000/- & make the payment of the same in cash on diff. dates below Rs 20,000/-. Does it is hit by the provision of sec 40A(3)?

Please advice....