whether CIT can reopen A.Y. 2005-06 where assessee claimed brought forward dep. allowance of A.Y. 92-93 and 93-94.

what is exact status of Period of limitation? FRom which year the unabsorbed dep can be acrried to subsequent 7 years?

A pvt. ltd co. is manufacturing harvestor combines. On sale of every combine, it paid commission which is between Rs. 2000-2500 per combine. Total commission goes to Rs. 135000/- in the year 2008-09. Per combine commission is paid to different person means one person is in receipt of Rs. 2000-2500 only. No single person is receiving more than Rs. 2500.
I want to know whether this is tax deductible or not???
Whether the TDS provisions are applicable???
If yes, then under what section and At what rate??
Please reply

Dear Experts,

If a person had claimed LTCG exemption (return filed july 2009) for an under construction property purchased in may 2008 to be completed by 2011 and due to reason of a better area & location buys another under construction property in July 2010 and sells previous one bought in 2008 and pays STCG.

Can he still retain earlier claimed exemption benefit of LTCG under section 54. Is there any permitted method of retaining LTCG.

Thanks

the company is a sectoin 25 company and trust u/s 12aa, weather preliminary exepenses include legal fees, conveyance, traveling expenses, repairs and maintainances etc.or not and weather we can amortize fully during the year or not if they are doing so, then is it allowed under income tax act, 1961

Dear All,
One Company is under the process of Acquiring Property, During this process one of the flat acquired by the co. is "letout" & Earns the rental income from that flat

Now Question under consideration is that the income earned needs to be Taxable under Income from House Property Or Income From Buisness & Profession Or Other Sources

Pl. Reply Along with Explanation

explain -
" in case agriculture land transfered in spesified area the exemption can be claim u/s 54b by purchasing new land within 2 year after the such transfer."
Q1-can we purchase a land in any area other than specified area.

IF THERE IS ANY MISMATCH IN REFUND WHICH I HAVE CLAIMED IN ITR AND ORDER U/s 143(1) THEN WHERE CAN I FILED THE 154 APPLICATION,WHETHER MY TERRITORY OR CPC,BANGALORE.
ALSO WANT TO KNOW IF IT MISMATCH WITH AS26 THEN CAN I FILE FORM-30 FOR BALANCE REFUND CLAIM AT ASSESSE AREA OR CPC,BANGALORE.
THANKS IN ANTICIPATION

is FORM No.13 for lower tax deduction submitted to A.O. for particular assesse or the ITO(TDS) of TDS deptt?

I am having a mutual fund distribution firm (sole proprietorship)with commission income (brokerage) of Rs. 8 Lakhs/annum. Can I claim presumptive taxation by declaring income at 8% of 8 Lakhs i.e. Rs. 64,000 even though my actual profit would be much more ? If yes, how do I account for the additional profits in my
books of accounts?

Is this provision also applicable to partnership firms having turnover below Rs.60 Lakhs?

Thanks and Regards

Full Value of Consideration received Rs.23 lacs for sale of flat in Asst Year:2010-11 but agreement is made in Asst Year-2011-12 so in which year the income will be taxed?