if we purchased $1000 at RS. 50000 for going outside india but later on, program is cancelled and we sold the above $1000 at Rs. 49000/52000 then what tax treatment will be done of above profit/ loss....
if sale and purchase of dollars is business of assessee then what treatment will be done..
also clarify me its accounting treatment??
whether is there any diffrence if it is of personal nature / bussiness nature...

plzzz clarify all in detail..and thanx in advance

Dear all,

Whether TDS to be deducted while making the payment(For service) to Software Technology Park of India (STPI) ? if yes u/s 194J or 194C ?

thanking you,

Please help me in this regard

My friend getting Basic here
andin US getting allowances and he paid the tax as per us tax.

how can i file the return please suggest with example and form

Sir,
what is personal balancesheet?
Is it neccessary to make a personal balancesheet for keeping a incometax file?
If a person have a balancesheet of his business ,is he is required to make it?
what items are included and the techique oor basis of valuation?
whether also a personal profit & loss account and a cash account is to be made?

Dear Friends / Experts,

Is there any problem in e-filing using DSC Class 2 (Individual User Type – Others) for companies ?

Those who have already done the e-filing using DSC for companies may share their experiences, which will be a good guidance to me and also for others, who are yet to file.

Step 1

I am able to register the DSC using e-token – NO ISSUE.

Step 2

Still, I have not commenced e-filing for corporates – PLEASE SHARE EXPERIENCES.

In fact, I have done e-filing for Individuals – NO ISSUE)

I shall wait for the response.

Thanks in advance for all concerned.

HELLO EXPERTS,
THIS IS NAVIN MITTAL, I AM A PCC STUDENT AND MY EXAM GOING TO DUE ON NOV 2010.

PLZ SUGGEST ME BEST BOOKS FOR TAX & AUDIT CA PCC AS SOON AS POSSIBLE.

A private company has undergone Capital Reduction. The Scheme has been approved by the Court. As per the Scheme, a part of the paid up value of each share would be repaid to the shareholder. The relevant facts are as under:

Amount of capital to be repaid Rs 300

P&L Acc(as per latest audited a/c) Rs 140
Capital Redemption Reserve Rs 400

As per the Section 2(22)(d), any amount repaid under capital reduction, then to the extent of accumulated profits, capitalised or not, would be treated as Deemed Dividend.

In the given example whether the amount of CRR would be taken into account for the determining the amount of dividend on which DDT would have to be paid? Can CRR fall within the ambit of be treated as accumulated profits, capitalised or not, esp when it can be utilised for issue of bonus shares.

thanks in advance

It is find that there is no provision for giving the information on DTAA..

the income earned by assessee outside india and
tax paid outside India covering under DTAA for which no provision is available in ITR.

Experts please suggest how to show or declare the information on DTAA

one of the our client (private limited company) has registered in 1996, and the company has not start any operating activities, therefore there is no any transaction in profit and loss account other than depreciation on furniture and audit fee. In balance sheet assets side Land plot with Rs 17.50 Lakhs and some misc items and in liabilities side share capital (10 share holders) with same amoount.

My pblom.
now another one company is purposed
to purchase the plot of land of this company at around 5 cores. The said company going to accept the proposal. Therefore the company earned huge amount of long term capital gain. Please advise me how to minimize the capital gain tax, in the hand of company as well as share holder if any. is there any alternate option for tax planning (all shareholder are ready to transfer the entire share holding) please advise me.

There has been an addition for the differnce between the stock as per books and stock statement given to bank for credit facilities. Is there any judgements for deletion of such additon.???