Dear all,

please answer that if a private limited company is incurring heavy losses for last two years (since incorporation) and there is no hope of recovery in near future, how can it take the benefit of tax by selling/demerge/amalgamate/any other way itself with any other company.

Dear Sir,
my client had co-owened house property which sold out at 27th dec2011 for Rs. 2900000 and as on 30 jan my client dead.my client rcv 18 lakh and other owner rcv Rs. 11 lakh.
this property purchased on 30/03/2005 for Rs. 1070700.in this situation wat can i do?
i not able to receive any detail from alive partener.
Thanx in Advance..

A company given Plot for to B company And B will give 27% of revenues amount to A. is It Royalty or Sale we consider . what is tax treatment give on payment amount ? TDS applicable under section ?

When we make a provision for employee benefit of Rs.20.00 Lacs in balance sheet but before filing income tax return actual figure comes out to be Rs. 24.00 lacs. then what amount we should take as deduction from our profit. and how we take effect of it in our books of account

IS THERE ANY PROVISION FOR CALCULATION OF LONG TERM CAPITAL GAIN(OTHER THAN SHARES)HAVING TAX @20% WITH INDEXATION AND @10% WITHOUT INDEXATION.

Dear Expert,
Can u pls tell me from where I can Get the fair Market Value Of Gold And Silver As on 1/4/1981 for computation of Capital Gains?????????

As per Income Tax law profit on sale of agriculture land as defined by the IT Law in the specified area/location is totally tax free.

My question is where to show this Income in the Latest ITR IV form?

First option is we show this amount under the ITEM 4 of Schedule "EI" i.e. " Net Agriculture Income (other then ...)"

Under this situation the Tax calculated by the EXCEL-ITR form is slightly different, it calculates the tax payable on the entire income including the taxable income and the agricultural income then it reduces the tax payable on the agricultural income amount. In this calculation the tax on the balance income which is taxable, increases as the tax calculation is on highest slab. So effectively we end up paying more tax because of agricultural income.





Second option is we can show this amount under the ITEM 6 of schedule "EI i.e. "others, including exempt income from minor child"

under this situation it may create unnecessary attention of the officer that from where the Income arise, even though we are very clear on law. instead if we can clearly specify the detail of income then there is no attention required by the officer.



So which option is the better and genuine option?

whether Online trading of Derivatives cover under sec 44 AD .. If It is cover under Sec 44 AD means what is the receipts for the business .. If he had earned loss for Rs. 400000/- means he will liable for 44AB tax audit of non full filling of 8 % ....

My brother in law basically Indian origin went to USA for employment and got green card also from USA-ie NRI.He bought a house at Chennai before few years and now sold in April 2011 with capital gain after hie return to India in the month of May 2010 .My query is
.whether he can invest the capital gain in FD for 5 years in a non banking institution which gives high income or to deposit with any nationalized bank under capital gain account scheme until decision is taken for further investment.
Whether it should be shown in the return for the fin year 2011-2012 as capital gain or not.
I request the forum for advice

Sir, My firm is engaged in mining of coal in Jharkhand. The subcontractor raise the bill quarterly basis as per agreement in the last date of the quarter. We got the said bill after 10th of next month i.e. bill dt.30.06.2010 recd on or after 10.07.2010. We have credited the entire bills on last date of quarter and in TDS return we have shown the bill credited on 30.06.2010. So, we could not deposited the TDS in due date i.e. 07.07.2010. The ITO(TDS) send the penalty notice u/s 221(1) of I.T.Act 1961. Please suggest me the way out. The above case relates to F.Y. 2008-09. Can we revise the TDS return of F.Y. 2009-10 & 2010-11 by changing the date of credit.

its very urgent.