Mr. X is a Karta of X (HUF) has made a Gift of Rs. 500000/- to X (HUF). The Gift so made is tax free in the hands of X (HUF). Since any amount received by HUF from its member is Exempt from Tax as per the amendments made by Budget 2012. Now I want to clarify the tax impact in the hands of MR. X Karta in his individual Capacity on the Income Earned by HUF on Gifted amount as per Clubbing Provisions of Section 64.

A person has income through transaction in commodity market through recognised stock exchange. Under which head is such income taxable and at what rate is applicable ? CTT is also not levied on such trading.

Please help me out for such situation.

A foreign company wants to open a branch in India through me. They are offering me the position of the country director (a shareholder). Now I want to know the procedure for getting the foreign company registered in India. What are the pros & cons of becoming a shareholder in this company?

Please let me know what happens if the online status shows as "Not Received" though the same has already been sent by ordinary post for the AY 2012-13.

what reason about sensex point going up and down.

When Land and building is sold as a Residential house property wherein land is a long term asset and building is short term. Which section can we take benefit from. Section 54 or 54F or none of these

is tax audit required if there is depreciation loss???

Hi Friends and Experts,

I need to know if a Pvt Ltd company work in diverse fields such as Agriculture plantation, Dairy, Cold storage and Wearehousing, Spices plantation and Packaging, Running of diagnostic center and nursing homes and Solar and Wind Power generation.
Can all these be included in one single MOA.

Dear Sir,

I have One Doubt regarding Section 44 AD.


Income as per P & L A/c - 213000

Taxable Income as per Business & Profession Schedule - 188000

8 % of Gross Receipt - 190000

Weather we have to opt 8% Income or we can go by normal ITR -4 ?


Thanking You in advance.

Dear Experts,

I want to get my company registered under SSI/MSME but a confusion is rolling into my mind!!

As my company is 99.5% subsiadiary of another group pvt ltd company, would it creat some hurdels in getting my company registered under MSME Act?

Please advise!!


With Kind Regards