One of my friend had sold a plot for around 40 Lacs and is having a long term capital gain of 28 Lacs. Right now he has no plan to purchase a new house but in future, say in a span of two years he would be planning to do so.

Till then where could be the sale proceeds be invested so as to plan no tax on capital gains. Sec 54 of the I.T.Act has something in it but we don't know the exact thing. Expert advises are sought on the matter.

Hi
I opened Long term Capital Gain a/c for making payments for under construction Flat . I will utilize this money fully for making payments to builder within 2.5 years of selling old flat but I will not be getting possession of new flat within 3 years of selling old flat ( Structure of new flat will be ready but not finished & hence no possession offered by builder ) . Now my question is
How it will be reflected in my IT return ? Will IT dept ask for possession certificate ? Will it b considered as reinvestment into new property as I will not b getting possession in 3 years ?

Please help...

Dear sir,
i am presently article assistent at r.k. Bhandari & associates. I want to articleship from mumbai. I search for mid size firm but not find and some firms are not take transfer.i clear my 1st group in may 2012 and 2nd group be awaited in nov.
i am also from hindi medium.
and some firms only give stippend upto 2500 rs.
one firm send me for bank audit in ahemdabad but they say that residing mamagement is only by me.
please guide me.

hi
i am a PCC student>i have completed my articles and itt training as well.I had also cleared my GROUP 1 of PCC and had written GROUP 2 in nov 2012.Just in case i dont clear that 2nd group, what are or will be the consequences since there is no pcc from may 2013.How would i be able to write the 2nd group(if required) in may 2013 as per IPCC as the subjects of pcc 2nd group are there in both the groups of ipcc and what is the last date of conversion to ipcc

please help

Dear Experts,

My company in USA wish to acquire a Company in India.

I would like to know the procedure for it.

Many thanks in advance.

Hi there.. my name is akash. I am in last year of b.sc. in hotel management & catering tech. I don’t have commerce background but I had studied accounting in hotel management, and now I have decided that I want to make my career in account & finance depart. This time I am really so confused about what to do now should I go for CA or MBA. Because I really want to work for some years in abroad like Europe , usa. Please suggest me something I am really confused now.

just give me information regrading wrong PAN quoted in self assessment challan and amount deposited also in bank and return also submitted.


Now tell me what to do for change of PAN no. in self assessment challan AY 2012-13.

Rs 600000 Cash Received from married daughter
by a mother,is it taxable in the hands of mother

Dear Experts,
Please clarify me on this issue.
Excise audit department has said to us that we have to pay back the cenvat credit utilised on the customer rejected goods as per Rule 18 of the Central Excise Rules 2002.
In other words
Rs. 10000 Cenvat Credit utilised for producing 100 units of Finished product on April 2012. Selling price per unit is 3000. Excise duty liability comes around Rs. 360 per unit (cess is also included).
All the goods were removed during the month of April 2012 itself. Out of 100 units 10 units were rejected by the Customers.
Now the excise audit department personnel says that we have to pay the excise duty of Rs.3600 (Rs.360 * 10 units rejected by the customres) which were utilised to product the customer rejected products as per Rule 18 of the Central Excise Rules.

Please clarify me whether i am required to pay this Rs.3600. Give supporting answers with relevant sections, rules or notification or case laws as the case may be.

Thanks & Regards,
Rajesh.

In a bill from supplier, VAT has been charged on HIRE charges of the returnable packing bins. The same bill has Service tax on Service charges.

We only book against Service tax a/c and Supplier(including VAT)and claim credit on the Service tax part of the bill as we get only one original copy for submission.

I am not clear about the process of submitting original bills for claiming credit. Pls advice me how to claim credit for both the taxes charged by the supplier.