we have taken opening balances of cash & bank bal. from last yr. It is an educational institution. and we have checked all the ledgers and cash book and JV also.. but we couldn't find any error. there is still a difference of some rs.66000 in the trial balance.. what could be the possible reason. reply as soon as possible. urgent

Sir,

A person's Ancenstral propety (non-agricultural) has been taken by the state govt for development and paid compensation of Rs 10 Lacs for the accqusition and deducted TDS of Rs 1 Lac @ 10%.

The land purchased by his grandfather in the beginning of FY- 1960-61.

The beneficiary who got the compensation is mere a farmer of BPL group. But he have PAN. Further he did not invest the money in purchase any other capital gain bonds nor agricultural land.

Now, my question is that, is he eligible for getting his tax back.

if yes, please suggest the procedure.

waiting for expert's advice. Thanks in advance.

with regards
Roy

hello sir,

IF one of my client ( trust) HAS RECEIVED Foreign Contribution in cash & in Rupees , so what are the rules for that as per FEMA & other rules applicable in India.????

kindly give reference if possible..

& what are the penalty or rules if such amount is not deposited in bank.

thanking you all.

Hi all,
this is rahul if i receive a house as gift(or u can say for inadequate consideration) from phufajee, how it will be dealt under income tax and gift tax? Or there is any way for tax planning so that i will be escaped from charging of tax?

Q1) SHARE ON DISCOUNT , WHERE 10% IS ALLOWED IS THAT 10% ON FACE VALUE OR ISSUE PRICE (PREMIUM)

Q2) SAME WITH DIVIDEND , IS IT ON FACE VALUE OR ISSUE PRICE FOR EX A SHARE WITH THE FACE VALUE OF RS10 AND ISSUE PRICE OF RS 150

SUPPOSE THE SHARE IS FULLY PAID UP NOW THE DIVIDEND IS ON RS 10 OR RS 150
AND DISCOUNT ON RS 10 OR 150






0

if an individual retired govt employee invest his gratuity income as FDR in the name of his spouse then the interest from such FDR will be taxable in the hands of spouse or ind himself ??

Sir,

I have paid first installment of Advance tax U/s 208 but I failed to pay on or before due date i.e. 15 sept 2012. I paid that installment on 15 october 2012.
My query is that, interest will be levid on how many days?

thanks

a firm has transferred immovable asset(dep'ble) to retiring partner on which stcg levied so at at what rate it is taxable in the hands of firm??

is there any planning to avoid cg?

if it is transferred on oct 2012 so what would be procedure for advance tax by firm???

whether tds credit available in advance tax?

any imp clarification

thanks in advance

If we pay a new job worker an advance payment of Rs. 30,000.00 to start doing our work, is it necessary to deduct TDS on advance payment at that time?

If we deduct TDS, What if he denies to do work and want to return our payment after some days?

Please help

when will icai increase the stipend for articleship students????/????????????????????????????????????????????????????????????????????????????????????????????????????????????