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Anonymous
14 March 2014 at 15:16

Filing of income tax return

I want to file ITR for AY 2013-14 now but problem is that my client is died on 02-01-2014.

so i want to know that what is the requirement of filing ITR. is it required to inform IT dept? if yes, how?

waiting for your reply......


Poonam Lohiya
14 March 2014 at 15:14

Remuneration

is remuneration is compulsary of rs. 150000/- in case of loss of partnership firm if firm cover under section 44AD


mounish
14 March 2014 at 15:13

Article ship status

SIR,
I HAVE TAKEN TERMINATION OF ARTICLESHIP on 08-10-2013 AND RECEIVED CONFIRMATION OF TERMINATION OF MY ARTICLES ON 14-10-2013AND I JOINED AS ARTICLE FROM 30-10-2013 UNDER CA PHANI KUMAR BEARING MEMBERSHIP NO.222495.I POSTED THE FORM ON 31-11-2013.BUT I OR MY PRINCIPAL HAVE NOT RECEIVED ANY ACKNOWLEDGEMENT/ LETTER REGARDING MY ARTICLE SHIP AND MY NAME HAS NOT APPEARED ON THE WEBSITE OF ARTICLESHIP STATUS ALSO. CAN YOU PLEASE ANYONE HELP ME REGARDING MY ACKNOWLEDGEMENT

REGARDS,
MOUNISH



Anonymous
14 March 2014 at 15:08

Set off loss

Partner have taxable income(remuneration) and share of profit from registered partnership.He has some carried forward business loss from his individual business.
whether this carried forward loss will be adjusted agst share of profit firstly and then remaining agst remuneration or vice versa?
Please give case reference if any and reply early as we are considering to go for appeal.


Amit

Hi
If a person has brought a machinery in FY 12-13, the same was put to use in same year. In FY 13-14, he incurred a forex loss while making the payment. He have to capitalise that expenditure. Now my query is, if the machinery was eligible for additional depreciation in FY 12-13, then can Forex loss capitalised be eligible for additional deduction in FY 13-14?



Aisha
14 March 2014 at 14:57

Amalgamation

in merger method y the diff b/w purchase consideratn & share cap is absorbed by reserves of seller co.


Swati
14 March 2014 at 14:57

Quorum of meeting

There is a private ltd co. which has 3 directors.
One of the director is about to resign.
My questions are:

1. Will the resigning director be given notice to attend meeting?

2. Will he be counted to form a part of the quorum?

3. What will be the language of the Item: "Leave of Absence" in the board minutes.

Thanks



Anonymous
14 March 2014 at 14:52

Regarding section 56(2)(viib)

If a company has received application money before applicability of section 56(2)(viib) i.e. before 1st April, 2013 but allotment has been made after 1st April, 2013. Then also the difference between the amount of FMV and the price on which the shares has been alloted i.e. premium amount is taxable or not?



Anonymous
14 March 2014 at 14:47

Case laws

There was a decision in case reported in CTR/TTJ in November / December, 2013. In an assessment, the Assessing Officer call for confirmation of Transaction from suppliers of an assessee. There were differences between the transactions found in the accounts of suppliers in the books of the assessee and assessee’s accounts in the books of supplier’s. The Assessing Officer added the difference in account balances in the assessment of the assessee. It was held in the appeal that for the additions only the difference in the current year transactions are to be taken not the difference in balances -please tell exact valume number


Mihir Kothari
14 March 2014 at 14:35

Depreciation u/s 32

Why is goodwill not considered as a capital asset or rather an intangible asset eligible for depreciation u/s 32 @ 25 % ?






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