My client being an individual has owned a residential Open Plot since 1985-86.Now he sold the same in F.Y.2013-14 (i.e.In month of June,2013) by way of registered Sale Deed. If we consider the long term capital gain arising therefrom after taking the benefit of Indexation nearly comes to Rs.8.00 Lacs.

Now to avoid long term capital gain @ 20% thereon i.e. Rs.1.60 Lacs,he has to invest either in another residential Plot within 2 years from the date of Sale/transfer & construct a residential House within 3 years from the date of sale/transfer bt virtu of section 54 of I.T.Act or Deposit the same in Capital Gain Account Scheme within 6 Months from the date of Sale but prior to due date of filing of regular return of Income relevant to Asstt.year 2014-15(i.e. on or before 31/07/2014)

Now query is as under:-

i) whether he can avail deduction under section 54 of I.T.Act as there is no income from this property since 1985-86. Moreover how much within maximum time limit he can invest the above asset as per section 54 of I.T act with mentioning of exact date & year.

ii) he has to invest on Capital gain Account Scheme within 6 Months from the date of sale or prior to due date of filing of I.T.return relevant to Asstt.Year 2013-14 i.e.31/07/2014 which ever is earlier or later by virtue of section 54EC of I.T.Act.
that is he has invest the same either on or before Dec,2013 or 31/07/2014 which one is to be considered.

Please confirm.

Company shall be liable for TDS of payment on hotel accommodation (Room Rent) for Company guest and employee (Time 5 days approx)

sir,
can you please clarify me why the remuneration only to be added to the net profit to see whether the firm has covered under the audit or not (why not the interest is added to the profit).please reply as early as possible

Dear sir,
I am Filling Form 18 of a company and their is a attachment namely A Proof that the Company is allowed to use the address as the registered office of the proposed company
So what can I provide if Registered office is owned by a proprietor who is also a director in the company

Thanks & Regards

Dear sir,
In case of a new company
What can be the attachment in case office is owned by another entity Please help it's urgent

Thanks & Regards

sir if interstate sale is made then credit of excise receivable to purchaser or not?

If one Firm receive transport service, GTA engaged by manufacturer for delivery of goods produced by him, Consignment note issued by GTA on the name of Firm as consignee.But Firm is not paid Freight separately to transporter as the value of goods, inclusive of freight and paid to manufacturer.Is any S.T. livable under Reverse Charge to Firm on this transaction? If manufacturer bifurcated fright on Excise Invoice issued by him? or the manufacturer is liable to pay S.T. and take input credit on S.T. paid.

Pls helpme out regarding filing of income tax return of my uncle and whether he need to file return as per his status
His status as follows
He lives in Kuwait (out of india) doing his own business there
And he is having no income from india at all i.e. all foreign income but having bank , NRE a/c on which he is getting some interest around 10000-15000
And having land property in india
Staying In india for 4-5months in a year
So tel me whether he needs to file his income tax return though he dont have any indian income

RAWMATERIAL PURCHASE PRICE 8892.00 + VAT AMT @ 5% 445.00 DT. 06.08.13
CREDIT NOTE RECEIVED FROM PARTY RS. 750/- FROM THE SAID PARTY FOR RATE DIFFERENCE
MY QUESTION IS IN SALES TAX RETURN PURCHASE PRICE WHICH AMT TO SHOW ? IS IT 8892.00 OR AFTER DEDUCTING 750/- FROM 8892.00 = RS. 8142.00
ALSO INPUT VAT TO BE TAKEN RS. 445/- ? OR 8142X5% = 407.00 ?

PLEASE GUIDE

Hi I have cleared Group 1 in IPCC scoring 243 and having exemption in accounts in group 2.I have applied for articleship in many firms but still havent received any reply.Please suggest me some firms which accept group 1 cleared students for articleship.
I want the articleship in mumbai

Thanx