A relative turns 18 years on February 3, 2014. Can he file IT Returns for the AY 2014-2015 (FY 2013-2014) as a major for the full financial year 2013-14 or only for the period 3/2/2014 to 31/3/2014?

Kindly advise if the income of the financial year 2013-2014 has to be split into two categories:
(1) the income that arises during the period upto 2/2/2014 when he was a minor and this income has to be clubbed with the income of the parent;
(2) the income that arises from 3/2/2014 to 31/3/2014 which will be his income as a resident individual (not to be clubbed with the income of the parent).

In the case of a person turning 60 even in February 2014, he will be considered a senior citizen for the full financial year 2013-2014. So, if a child becomes a “major” in February 2014, will he not be a “major” for the full financial year 2013-2014? In this case, there will be significant tax saving as clubbing provisions will not be applicable and the total income will be split into two – that of the parent and that of the son. I will appreciate your opinion alongwith a reference to the applicable section of the Income Tax Act.

Thanks.

Dear Sir,

Whether accounts is mandatory for co operative society to prepare as mercantile basis or not?

my client is purchasing oil from ship braker is called black and used oil. He further process the oil and sell to others my question is whether excise will be levy or not .For ship braker it is non excisable

Hell plz tell:
1. can my accountant submit my return on my behalf. in verification column place were i hav to mention in india or outside.

sir ,i am a ipc student .iask you ipcc exam may do in jun for some election problem ?

Dear Sir,

Our companies ROC address is of Hyderabad. We have Bangalore office as our work place. Now we need IEC for our company can we apply it from Bangalore DGFT.

TWO ARE NOT SAME UNDER INCOME TAX.

BUT WHETHER REBATE OF RS 800/=PER MONTH OR RS 9600/=PER YEAR WILL BE AVAILABLE,

EVEN IF THE EMPLOYER PAYS RS 3000/=PER MONTH OR RS 36000/=PER YEAR FOR HIS OWN VEHICLE OR FOR HIS OWN VEHICLE ONLY DRIVER IS PROVIDED BY THE EMPLOYER.VEHICLE IS USED FOR OFFICIAL PURPOSE AND PERSONAL.

AKDAS

If any one director gives resignation from his directorship than company need to file form no 32. But my question is that whether company need to show this transaction in board meetings minutes ?

we have formed one trust for general public utility, we have received some income as sponsorship, service tax applicable for that income?

how much times is given to file appeal against decision under section 154