My freind has sold a house property in april 2008 and deposited the Capital Gain of 25 lacs in FixedDeposit with scheduled bank in Capital Gain A/c maturing feb,2010.Can he purchase two houses from the amount.He wish to purchase a shop , can he do so.Can he book a flat in new project and pay the capital gain amount and the balance in instalments and possession in Nov 2011/2012.Suggest

Query : Mr. X is working in a college. Recently, X has got government job and posting is expected any time. At this situation, the college Principal is very specific and ordered for 3 months’ notice period and if notice period is not maintained, a sum to be paid as a compensation for the notice period. Suggest me to overcome the situation. Thanks for your guidance.

WHICH BOOKS OF ACCOUNTS ARE MANDATORY FOR ANY BUSSINESS CONCERN WHO FILE 10% INCOME ON HIS TOTAL TURNOVER OF RS.3000000/- U/S 44AF

Hello, all of my Professional Colleague,

I am working in medium firm in Mumbai. My 3rd year of Articleship is going on. I want to do 3 month resedential program inroduced by ICAI. But my principal is denying me to do in articleship period. This Program is part of Articleship Training as per ICAI Rule. Can my partner have power to deny me for GMCS program? Can I take the action against my Principal?

Another question is :-

As per ICAI rule you will get transfer only if your parents transffered from one city to another city. But my Parents is not residing in mumbai. can I take the transfer from my firm?


Please reply....

When the results of PCC June 2009 attempt are likely to be declared ????

Some are saying that it will be declared on 28th August 2009 ???? Is it True ????

Keeping Uncertain & Unpredictable nature of Future in mind.......

Will it be a Wise decision to stay in touch with PCC studies on daily basis ?????

As Time left after declaration of Results would be less/insufficient for a good preparation for Nov.09 attempt......?

Can a custom house agent avail input credit on service tax paid for fumigation services taken from third party on behalf of its client(importer)

Normal income of an individual other than capital gain is 9 Lacs and his income from capital gain is 1,20,000/- Can he calim marginal relief

A person Mr.x is a consultant in a co-operative society.His son is a auditor in the same society.Is appointment of auditor valid ??? pls answer and also give some reference to prove the above case.and if not valid then what action can be taken against the auditor??pls suggest

I have long term loss on sale of shares and STT is paid thereon.
Can I set-off the loss against any other long term capital gain?

A partnership firm having son and mother as partner has shop purchased in 1987 in name of firm.It is given for rent for 6 lac+ Deposit of 3 lacs earning interest of 9% in bank.The firm has no business income.Suggest tax planning for firm or it will have to pay 30.03% firm tax on income from house property and interest income from other sources. Any deductions that can be claimed over and above standard deduction of 30% + municipal taxes.
Suggest.What if shop is in partnership name in society records and thereafter registered in 2008 as propritor of the firm with registrar by one of the partners.Can then the rental agreement be entered in individual capacity as proprietor.