Dear Sir,

I am saurabh Mishra a CS student (Inter)please tell me how to calculate the defer tax liability of a company. suppose a company earned 25 lakh profit of before taxation.

Please advise me for the above stated,

Thanks & Regard,
Saurabh Mishra
Cont.9737774448

Hello Sir,
I have filed Return Before Portal change and aslo sent ITR v For Bangalore
But The Status says that ITR V Rejected due to Exceed The Time So what i can do for this
Weather File New Fresh return or Revised Return?

Pls Answer My Query.

Mr X sold a Residential Property in June 2012. The Capital gain on it is Rs 60 lacs.

He Purchased Another Property in July 2012 for 60 lacs.

He then demolished the property newly purchased.
Then he sold the Ground Floor in small pieces to different shopkeepers to build their shops.

1st & 2nd Floor which will be constructed of which the 2nd floor will be used for residence & 1st Floor will be let out to a commercial bank.

Query 1.
What should be the treatment in capital Gain.?

Query 2.
since 60 lacs is cost of new property, assuming 20 lacs is cost of each floor.
Now 2nd floor cost is 20 lacs, so we would get exemption of 20 lacs from capital gain.
Now sale proceeds of ground floor are 40 lacs. And the cost of construction on 2nd floor which is residential comes to be 40 lacs.
So would we get exemption of whole 60 Lacs or not?

Query 3
Moreover, what would be the tax treatment for the newly residential property purchased and ground floor sold in different pieces.

Kindly Advise.

My father and other 4 brothers have ancestral urban land. I want to know that if we sell land at specified sum say Rs.1 crore and purchase a new agriculture land by each brother separately of Rs.20 lacs then what is the tax consequences ?

1] can each of them separately claim deduction u/s 54B?
2] Can this land be called as HUf property?
3] Can we claim deduction simultaneously u/s 54B and sec.54 F?

Dear Friends,

I have small doubt in calculating capital gain:
If a person pay amount to his sisters to get rights of property (House) will it be considered as expense.

Please clarify. Urgent

Thanks in advance.

What are the main aspects and legal compliances which needs to b considered while conducting the audit of NGO ????

I am still unable to open Income Tax E-fling Web site by using Internet Explorer and Google Chrome. Is there any other option availbale other than Mozilla Firefox. Please suggest me any other alternative.

Dear Professionals

Please tell me that can we claim the excise duty as duty drawback according to the all industry rates specified by the govt.
because our case is that " we purchase material from indian market and pay Excise Duty and use these materials for the project fall under the category of Deemed Export".

Further that can we claim service tax as duty drawback for the above case.

payment is made in ITALY for professional services for providing service for incorporating company in italy,whether we have to deduct TDS?According to DTAA income is chargeable in italy as well as if indian govt want they can also charge tax on this.

sir,
is depreciation mandatory under compaines act like in income tax act???