Hi,

My brother-in-law staying in US, transferred Rs. 10 Lakhs in my wife account, as we needed to show the balance for immigration purpose. The agent had asked us to keep the money in account till immigration file starts processing. As it would take about a year or so, we created FD. Have filled form 15G as my wife do not have other income.

Kindly suggest, whether we need to file the return as interest income would be about Rs. 1 Lakh. And can source of fund be questioned.

Thanks,
Amar Gandhi

Hi,

My wife is starting a new business from home as a recruiter. For the same, we are starting a new proprietory firm. Do suggest, if have to take service tax registration right now, or can apply for the same when our turnover crosses Rs. 10 Lakh limit.

As far as I understand, does that mean that in initial invoices (till Rs. 10 lakh is reached) we do not have to charge service tax.

Please suggest

Thanks,
Amar

I forgot to submit form no.112 along wid other forms for registration nw I hav got mail frm WIRC to submit it I m preparing for ma ipcc grp2 exam n do not hav time to go to college & icai bhavan as itz far from my place is it ok if I complete d remaining formalities after November 20

Hi, my wife has received a notice under CIB-321 stating that their has been share transactions of Rs. 20,000 or more for FY 2009-10.

I had a demat account in my wife's name. I used to transfer funds from my salary account to her savings account linked to that demat account for trading purpose. I had done share transactions in cash segment and FnO segment. But it was A loss in both segments. So had not filed the return.

Please advice me as to what answer should I submit in the proforma given. Their are three options 1) Return under preparation 2) Business has been closed 3) No taxable income

Thanks,
Amar Gandhi

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