m preparing for IPCC both groups..wanna get suggestions for clearing it in first shot

very urgent

Dear Members

Please clarify on the taxability of the following income

Assesse a Sikkimese” individual

1)Director Remuneration received from a Company Registered in the state of Sikkim

2) CapitalGain of sale of Mutual Fund


Thanks in Advance

Dear Sir,

I have uploaded 3CB-CD in following manner. I want to know that procedure follow by me is Right or wrong ?

Procedure:-
1. I have registered my self at Income Tax website with valid Digital signature.

2. Fill form 3CB-3CD in KDK software and generated xml file.

3. After Login from Income tax website I have uploaded following files/ Documents
(a) xml file of 3CB-3CD
(b) digital signature
(c) pdf file of Balance Sheet and Profit
and loss account with all annexure
BUT the aforesaid B/S and P&L are without written "SD".

Rahul Kumar Shrivastwa

If the Amount is not recovered from the trade debtors for a long time say 2 years and the company has not created provision for baddebt for that particular debtor then under which head of Balance sheet(under revised schedule) is that particular debtor posted. (Current Assets or Non Current Assets).
Say the operating cycle of the company is 15 months.

Respected seniors and my dear fellow mates,
I have a query.

A husband having a pension income (tax bracket 10%) wants to give his wife Rs. 10, 00,000 /- (Ten lakh rupees). Wife is a home maker and non-filer of income tax.
Now how the husband can give the amount to wife so that to avoid clubbing of income from the income earned from that money.

I understand some points:

1. That if the wife put the money in fixed deposit then the interest so earned will be clubbed with the husband’s income. So, cannot do that.

2. Again, I think loan to wife is not valid as he doesn’t have the license to do that, i.e.against RBI provisions and charging interest for the same will contravene the provisions of PML Act, 2002. Though, vide argument, if it is valid, please quote the section of the I.T.Act, 1961 or cite a case history.

3. Jewellery, the wife does not have much so as to fulfill the term of “adequate consideration” which she could have given to her husband.

4. Only Left is PPF. If the wife puts the money in PPF then that is the only way, I think, to save the full interest so earned from that money and it wont be clubbed.

Any other way by which the money can be transferred by the husband to the wife and she can invest by which the income which will be derived will not be clubbed with the husband’s income?

Any other valuable tips. Please comment. Need your advice and suggestions asap. And correct me if I am wrong with the above mentioned points.

Thanking you
Somsuvra Mukherjee

respected sir ,
i am filing form 4s for my eligible retail business and claim exemption for housing loan payment under sec 6a . someone may suggest that may i have to show my residential house under aseets colum in form 4s .thanking you

Hi Everyone...
Why I.T act prescribed W.D.V method for depriciation under Sec 32 why not S.L.M method under the chapeter PGBP?

Which section of income tax covered societies registered under Society Registration act 1860 of india ?
if the gross receipt of said society is 99 laks, the tax audit is compulsory or not. Please mention.

im preparing for exam from scanner for my final group 2.
plz tell me whether i hv to read question for ca new course only(nov 2008 onwards ) or all the question for new and old course.
since i hv not much time for prep.

its urgent....

Hi Everyone...Could you please answer my query with an example.
Why Capital Expenditure is not allowed as deduction under PGBP?(Sec 30 & 31).