I want to sale my agriculture land ( after conversion into residential land i.e. diverted land).

this land is become my property before 01 April 1981 by virtue of Inheritance.

What should be cost of acquisition for the land?

whether it will be FMV as on 01.04.1981 since no cost of previous owner.

Hello All
Happy New Year
I am Sanjay working as an accountant. I want to know that if a husband gives cheque for household exp to his wife and wife deposits cheque in her account for the expenses of household, then is this amount recieved can be treated as her income or not. Kindly advise.
One more thing What is the meaning of leneal or decendent in Gift.
Thanks & Regards
Sanjay

An educational institution is registered under Section 12AA of Income Tax Act.
Its Gross receipts are 30 Lacs
depreciation is 4.5Lac
It has defaulted in the payment of ESI.

How do we compute the income to be applied for exemption under Section 11 Of Income Tax act 1961.

Our builder proposes to redevelop our housing society. For this purpose he is insisting to stay at other place for the period of 1 to 2 years. In consideration the builder is paying the rent of Rs 9000/- per month which is paid to the houseowner. Whether rent received from builder is treated as income from house property or income from other sources and rent which is paid, whether the same can be considered for HRA Exemption. Kindly advise.

In Traces website, for our TAN, we are able to complete the activation process and activate the Login. But when we tried to put user name and password for login in Traces, it is showing as invalid details.

As per Traces, first time login should be done using user name and password as in TIN. This also we tried but it is not working.

Kindly guide.

dear sir,

please clarify the following

can we show deffered tax(asset/liability) and provision for tax together in the balance sheet,and pls clarify me

how prov for tax and DTA/DTL will be adjusted at the year end to show in the balance sheet

My client assessment was completed for the Asst Year 2008-09 and Asst Order was passed and demad taxes were also paid. In that scrutiny the assessee has declared u/s 44AF income of 15% of Gross Receipts on Rs 7.00 lakhs and Gross Receipts were assumed by the Assessing Officer is Rs 22.00 lakhs. The AO has passed orders by declaring income of 7% of Gross Receipts of Rs 22.00 lakhs and further deamand taxes paid. But in the Auditor's report shows that assess income of 15% of Gross Receipts Rs 22.00 lakhs. And now AO has issued a notice u/s 147 for reopening Assessment.
(i) Can the AO reopen u/s 147 on mere audit opinion (ii) reopening u/s 147 on mere audit report is valid or not.

Please Friends & Colleages..provide me your valuable suggestion...
One of the public company called its AGM on 29/09/2012.But due to non presence of required quorum, it could not be able to conduct its AGM.So it concluded to hold its AGM on 30/09/2012, which was a public holiday as it was a sunday. So please clarify me that the company has made a violation of any section of companies Act.
And it has also filed all its annual eforms with ROC with the AGM date of 30/09/2012. So in case of any notice from ROC regarding the holding of AGM on 30/09/2012, what is the position or points to be kept in front of that ROC's notice.

Plzz tel me what is the procedure to Correct TDS Return ..

If u make payment to sub contractors without deducting tds and after some 3 months if u want to remit tds to govt. What % of interest rate is applicable and from which date is it applicable i.e, from date of payment to sub-contractors or from the date when u pass an entry deducting tds in tally?