I would like to know how will shares will be valued in share trading buisness??qutantiy at end of the year should be valued at cost or average or fifo or lifo ..is any method prescribed anywhere??if any case laws or circulars will do..

"A" a non resident in india has a NRE A/c and his wife "B" is resident in India and runs a buisness ..A has given a Power of Attorney to B to operate his account. B as given power of attorney pay her buisness expens from NRE A/c i.e payment made directly from A a/c for her buisness..
I want to Know wat is 1.Nre A/c 2. Purpose of Nre a/c 3.this expenses paid by B from A's a/c wat will be tax implication 4. Fema Regulation 5. wat will be benefical wheather to show as loan given by A to B or Gift given by A to B..nd case of gift wheather clubbing provision will applicable??Pleze tel me any beneficial mode to assessee within Fema regulation??Any case laws or circulars??

A prop. concern having tax tax audit for the f.y. 2005-2006. It has transferred its prop. business on lump sum amount of Rs. 30 Lacs on July 05, 2006. Up to 13.07.2006, total sale was rs. 18 Lacs. the questions are

1. Whether the concer is liable for tax audit for f.y 2006-2007

2. under which section short term capital gain shall be calculated

3. how we calculate the capital gain on Land if there is lump sum payment was received

Hi All,

Can anyone provide me a good salry structure for a CTC of Rs.10 to 15 laks per annum.This model should be for employees in Software industry.

Thanks,

Kuras

hello,

how int u/s 234c is calculated when there is both income taxable at normal rate & income taxable at spl rate exist.

Calculate int on following assumption -
If income taxable at normal rate alone is considered it is less than basic exemption limit. While added it with cap gains such total income is taxable.

regards,

dear one,

Arun Dongre

Mr X is employed with a nationalised bank. He has entered into a leave and license agreement with Mr Z at Mumbai for accomodation. The rent is directly paid by the bank to Mr Z.I would like to know its taxability treatment ie whether it would be taxable as a perquisite or as a fringe benefit in the hands of employer. if it is a perquisitewhat will be the taxable value

Tax audit report requires us to report whether any sum deducted as employee's contribution has been deposited and the due date of depositing the same. I want to know which contributions are to be reported here and the due dates also.

hi friends plz tell me what is deffered tax rate

Kindly enlighten me on provisions of Sec 145A.. emphasis on excise duty part for stock valuation

Sir,

I am a practising Professional. I have a query. Some of my clients will be in a position to obtain the audit reports under section 44 AB before 31-10-2007. But keeping in view the lengthy FORM No. 4 and 5 , they shall not be in a position to furnish the income tax Returns before 31st October 2007.

My query is where my assessee obtains the Tax audit report u/s 44 AB before 31-10-2007 but files his returns in November 2007, i.e after the due date , whether the penalty u/s 271B shal be imposed. This question is relevant , particularly in the light of the latest circular No. 5/2007, where in the audit report is not to be attached with the return of income , nor the same is to be filed separately

Thanking you.