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.???

Sir,
Is Exemption u/s 10(10C) is allowable on enhanced VRS compensation receivable due to wage revision. In the case of some employees 5 lakh exemption has not fully granted at the time voluntary retirement being VRS compensation less than 5 lkah. Now we are going to Pay enhanced VRS compensation due wage revision. So can we grant exemption for the balance amount for computing TDS. eg. at the time of Voluntaty retirement 4 lakh exmption has granted. Now we are paying 3 lakhs arrear due to wage revision . Can we grant exemption of ONE lakh (5-4) under sec.10(10C ) for computing TDS to be made. Its very important because if the TDS is lesser then we cannot recover the balance tds amount. I require an expert opinion on this.

I AM NOT ABLE TO UPLOAD RETRURN FOR THE A-Y 09-10 I.E FOR PY 08-09.

IS IT NOT PERMISSIBLE TO FILE E-FILE FOR THE SAME???

IS THERE ANY RULE THAT IF THE E-FILE OF AY 10-11 IS DONE THROUG E-FILE THEN NOW YOU CAN'T DO E-FILE FOR AY09-10?

REPLY URGENTLY

what r the duties of a company seceretary with respect to filing of a tds return plz. elaborate in detail...thank u in advance

I am filing the ITR4 of my client (Individual) upon whom provision of section 44AD apply.

His Gross receipts are 780000 and Net Profit as per Profit & Loss a/c comes 480000 but as per section 44AD, 8% of 780000 is 62400 only.

Pls guide whether in the Capital A/c profit of 480000 will include or 62400.
Also guide should we prepare the P&L a/c or not

NRI HAVE A FD OF RS.10 LACS IN INDIA

MY QUERY IS >

A. WILL THE INTEREST INCOME IS EXEMPTED UNDER 10(4) ??

B. IF INTEREST ON FD IS TRANFER TO RESIDENT ? WHAT IS THE TAX TREATMENT ?WILL THERE BE CLUBBING ?


PLEASE ANSWER POINT WISE