Gud aftn, I hada a small doubt regarding gmcs 1.we have to complete gmcs with in1 yr of commencement of articls or we have to register for gmcs within commencement of articls.i have joined articls in feb b3013 but my gmcs 1 starts from mar 2014.waiting for ur reply

i want to ask who to assess the income won in lottery under following situation - suppose a person won a car on lottery worth rs. 500000 and the giver has cut the tds on 500000 and the car is received by the person now the question is how to assess the the winning of this winning as the car received is of 500000 and according to the rule the recieved amount in lottery has to gross up and then the tds have to cut so wheather 500000 has to be taken as gross amount or net amount and if 500000 is net so we have to pay extra tds according to the gross up amount

Is exemption of 10lac on sales allowed to a dealer proving restaurant service, if its previous year gross sales was 20 lac ?

Suppose some builder has before getting completion certificate from the competent authority, taken advances from 3 flat booking parties, then he builder will be liable to service tax. But, as regards the remaining 10 flats, the builder has not taken any booking charge from any party and he gets the entire consideration of flat selling after getting completion certificate from competent authority. All 13 flats are part of a single site.
Then for 10 flats which are sold after getting completion certificate, service tax is payable?

SIR,IF UNDER SECTION 147,THE ASSESSEMENT IS GOING ON AND PGBP INCOME IS CHECKING BY A.O.,BUT DURING THE ASSESSEMENT A.O. FINDS THE INCOME UNDER THE CAPITAL GAIN OF LAST PREVIOUS YEAR,WHICH HE IS NOT CHECKING AS INCOME OF CURRENT PY HE IS CHECKING,THAN A.O. HAS TO GIVE AGAIN NOTICE UNDER SECTION 148 FOR LAST PY Assessement also for checking the accounts of assesse.

Dear Expert,

We are having import /export both.
Since to some of our import purchase parties we are paying them in $ only. My question to you is whether at the time of payment should I booked foreign exchange difference under AS -11 if rate of purchase is different then rate at the time of payment.

Dear Sirs,
Assessee sold original asset u/s 54F and transfers sales consideration to his wife's account. An under construction residential flat is booked in their joint names but payment of instalments to the builder is made from the wife's bank account.Now my questions are as follows;-

1)From which accounting year will the flat be shown as an asset in balancesheet-year of booking or year of possession? If the answer to this question is year of booking then what amount will be shown as asset-the full sale value or the total amount paid as instalment till 31stmarch of that accounting year?
2)In whose balancesheet ,assessee's or his wife's the new property will be shown as an asset so that section 54 F exemption may be successfully claimed without any problems or hitches. OR should 50% sale value be shown as an asset in both assesse's and his wife's balancesheet?

THANKS IN ADVANCE

Dear Expert,

We are paying freight charges to GTA and the same is charged to our sale invoice seperately and collect from purchaser.

My quarry is whether Service tax @12.36% on 25% value of Freight should be payable by us or not?

Pl. clarify me.

I AM GOING TO REGISTER INTO A CA'FIRM. IT'S HEAD OFFICE IS AT PUNE I AM GOING TO WORK AT PUNE AND GOING TO REGISTER AT BRANCH AT BARODA MY QUESTION IS IT POSSIBLE? WHERE SHOULD I SUBMIT THE FORM SHOULD IT BE AT PUNE OR BARODA?

I am having a property out of Mumbai & am intending to sale it off. The details of purchase & Sale is as below:

Purchase Date: Oct 2000

Purchase Value: INR 7.00 lacs

Sale Value Approx 70 lacs

Sale Date: Aprrox on or before March 14