Dear All,

What is the kind of Gratuity (approved / unapproved)provision that is disallowed u/s 40A(7) and 43B?

In Form 3CD if we disallow gratuity provision u/s 40A(7),do we need to show the same amount in annexure related to items disallowed u/s 43B.

Thank you

DEAR SIRS,
I AM HAVING A BLACK BUSINESS OF MY MOTHER WHERE SHE DESIGNS CLOTHES FOR WHICH SHE MAY HAVE TO BUY ALL TYPE OF STONES, AND OTHER MATERIALS. SO IF I START ISSUING BILLS AND CREATE A FIRM ON MY NAME WHERE I CAN ISSUE BILLS AND SHOW IT AS MY BUSINESS INCOME. WHAT TYPES OF TAXES WOULD I NEED TO PAY MEANS DO I HAVE TO GET REGISTER FOR VAT/SERVICE TAX.... I DONT DEAL IN CLOTHES.... BUT JUST SHOW HOW TO DESIGN A DRESS. I DONT STITCH IT AT ALL. SO PLZ GUIDE ME THE ISSUE

a) X Ltd., an Indian company, furnishes following particulars of its income for the previous year 2006–07. Calculate its total income and income–tax liability for the assessment year 2007–08 : <br> Rs. Income from business Dividend received during the year : — from Indian company — from foreign company 5,20,000 <br> 20,000 5,000 Gains from transfer of capital assets: —short term capital gains —long term capital gains Agricultural income in India 25,000 50,000 35,000 <br> Additional information: <br> (i) Income from business includes Rs.1,50,000 profit earned from a new small scale industry set up on 1st October, 1999 which is eligible for deduction under section 80–IB. (ii) Business expenses already charged from business income include Rs.10,000 revenue expenditure and Rs.30,000 capital expenditure on family planning programme for employees. (iii) Company has debited following donations in the profit and loss account of the business of company: <br> — Rajiv Gandhi Foundation: Rs.50,000; and <br> — Prime Minister’s National Relief Fund: Rs.25, 000. <br> <br><br><br><br><br> Question 2 <br> <br> a) The written down value of the block of assets as on 1-4-2004 was Rs. 5,00,000. An asset of the same block was acquired on 11-5-2004 for Rs. 3,00,000. There was a fire on 18-9-2004 and the assets were destroyed by fire and the assesse received a sum of Rs 11,00,000 from the insurance company. Compute the capital gain assuming: <br> i) All the assets were destroyed by fires <br> ii) Part of the block was destroyed by fire <br> What will be the answer if the assesse received Rs. 6,00,000 from the insurance company and assume i) all the assets were destroyed by fire ii) part of the block was destroyed by fire

Hi

Owner of Pvt Ltd company who is NRI, wants to send large amount in a company which will be used for expansion of the company. Can this be treated as non-interest bearing loan which will be repayed after 2 years? Is there a limit on how long you can have this loan going on?

Regards
Parag

hi friends
please give me referenece books names subjectwise for final course

Hi. the licensee has deducted TDS at 10.3% which actually should have been 16.995% on the rental income. he wants me to now to refund him the amount which he did not deduct and only on doing so will he provide me the TDS certificate. I want to know whether i need to abide by it or not, since i have already paid a good amount of advance tax due to the licensee's mistake of deducting less tds.

hellow sir,
how to remember sections in DT & IDT for CA final????

pls help me ....... my co is planning to give meal vouchers to employees which are used at food outlet. the sales girl of sodexo has given offer to take 2600 p.m per employee but my confusion is that in salary chapter as per I.T it it is written Rs 50 per meal or less i.e (50 x 2mealsperday x 25days x 12)=30000 p.a.
we canot take 26days.or what is the limit and where it is written?

Thanks
Pratima.

In the case of a builder/developer, piecemeal advance amount are received towards booking of the property. The sale deed is not executed till today and the amount is outstanding in the balance sheet of the builder. The party who has advanced the money also confirms the same

Under the circumstance
Can the amount be treated as a deposit and covered u/s. 269SS, 269T?

Kindly opine with citation.

In the case scrutiny case of a builder firm for the A. Y. 2007-08, the assessing officer asks the details of subsequent two years like sale made, construction expenses incurred etc. during the A. Y. 2008-09 & 2009-10 the case of above years are not in scrutiny.

Can the assessing officer ask such details of subsequent years?

1. If yes under which section
2. If not kindly give the section and citation.


Kindly opine.