Can a Practising Chartered Accountant train a ICWAI student, for ICWAI articleship?
1. In such case, any permissions are required from the Institute?
2. Will the student be counted for the ceiling limit of the number of articled clerks?

please see the details of the investment.

1)
Puchase Date 26/09/2012 INR 10,00,000/- Fund Name – BIRLA SUN LIFE DYNAMIC BOND – RETAIL PLAN – DIV REINVESTMENT.
Switch Out Date 17/05/2013 INR 10,72,877.37 Fund Name - BIRLA SUN LIFE DYNAMIC BOND – RETAIL PLAN – GROWTH.

Now the client wants to check in case we switch the fund to BIRLA SUN LIFE MEDIUM TERM PLAN. What will be the tax implications? LTCG or STCG?

Hello sir, I am in CA final,doing articleship as well as doing bcom 3rd year from Sol du.. exams will be held in may. Now I want to persue CFP..can I do it now or after my bcom papers or after the third year result? Thanks

Hello Friends, I have a query regarding deductiins available in respect of a new house property which needs to be urgently resolved. One of my friend purchased a house property in FY 2013-14 the construction of which will be completed in FY 2014-15. He paid stamp duty and registration charges for the same. Ge has taken a housing loan of which EMIs have already started in Jan. Now my question is in which year the expenses and EMIs are claimable. 1. Stamp duty and registration charges in the year of payment 2. principal repayment (u/s 80C) and interest (u/s 24) from the year of possession. Right? If yes, can you please send me the clause/explanation/circular/notification issue by the department in this regard. Thanks alot for your time and consideration. Hope to get the inputs soon.

One of my friend has bought the flat in 2007 which was under construction. He paid installments after that and got the possession in 2011. On possession he immediately sold the flat. Now AO is saying that as possession was received in 2011, the same should be treated as short term capital gain. Can any body help me with case laws whether holding period should be considered from the date of purchase or date of possession?

1. as per present rules , if the profit of a partnership firm in 1st yr is 10 lacs per annum then what maximum salary can be given to partners (3) & if the profit inncrease by 20 % every year can the salary be increased proportionately

2. does the salary have to be in accordance to the profit sharing ratio or can it be different and as per mutual agreement , does this mututal agreement need to be recorded in the partnership agreement or any do we require to pass any official document in this regard

Dear Sirs, Grateful for a clarity on following situation.

a. 1982 - Bought a piece of land in Tamilnadu -for 1500 Rs in total.
b. Jun 2013 - Sold the land for 2900000.
Dec 2013 - Bought another pice of property/land for 1800000
c. Feb 2014 - Willing to Invest this after Indexation which amounts to 800000 Lakhs in Bank Capital Account for 3 or 5 years.

My questions are as follows.

1. I understand that we may need a NOC form Income Tax to withdraw the amount after Maturity. Would this be correct ?
2. Do we have to invest in capital account to avoid paying Tax ? Would we be exempted ?

Thank you
Chandrika

If 4 person make a scheme for a business. The scheme of business:-
They Collect 1300 rs. per person for 13 month. They give this plan to 4300 person.
After then they will do draw every month.
On Every draw they will give motorcycle, Cars and Led etc. Which person number will be announced in draw he collect his gift and after then he will not pay any premium.
Remaining people will get 21000/- on the end of this plan(Last Month/13th Month).
There is also some profit after complete of this plan.

So now in which category they have to registered them. In partnership or AOP, or Club & Association.

how can one prepare properly with less time left for ipcc,however i had started preparing earlier only !!

I have one query . Suppose Mr. x owes 2 companies i.e. company A and Company B. company A sold of rs. 15000/- but amount recieved by Comapany B. so what should be entry in tally.

please mail me solution as early as possible.
my mail id is jpriya67@yahoo.com