is it necessary to learn section no of every law

My uncle sold a piece of land to a friend in oct 08 who got the registration of sale deed done by paying 10% amount and the rest PDC's...which bounced
the 10% which my uncle got he invested in REC bonds and subsequently filed a case u/S 138 and 420 on his friend for the bouncing of cheques

Now 31st July is approching and his taxability seems to be in a mess!

Someone advised him to fill his return without the capital gain portion and only the interest income earned under the "Income from other sources" head....does that make sense?

He does not want to evade tax, and never has, but if he has to pay capital gain, he has no money to do so!

can he get an extension from filing his return on capital gain as the case is pending in the court?

What should he do?

We want the Clarification on following issues regarding submission of hard copy of Income Tax Acknowledgment (i-e ITR-V).

1) Whether Acknowledgement is to be sent via Courier, Registered Post or any other means.
2) Whether in a single envelop, can we sent acknowledgement of more than one Assessee.
3) Whether Acknowledgement is to be sent in Single or Duplicate.

Hai all ,

Under the above section ( Section 10 (38)) , kindly clarify , if the entire amount of Long term capital gain exempted ? If there is any new amendments , let me know?

ABC ltd. is loss making company for a.y.06-07 they have claimed the bad debt of last several year i.e. 10-12 year While scrutiny of the same A.O. has disallowed the cliam of bad debts & the s assessee is now gone to CIT Appeal aginst the disallowance of the bad debts. so kindly clarify the Provision relating to bad debts of Income Tax ACT & as per companies ACT. also specify case law in favour of the assessee regarding the same.

Dear Frnds

Preparation of Balance sheet pursuant to Schedule VI of the Companies Act, 1956 requires depreciation on the Fixed Assets of the Companies.

Can a Company decide not to charge any depreciation on the assets of the Company becaues the Assets are not put to use.

The assets are more than 10 years old & the Company has chagred depreciation on those assets for the past 10 years but the company don't want to charge any depreciation from this year.

Pls advice whether it is permissible under law to do the same.

pls take it as urgent

Best Regards
CS. Deepika Bhardwaj

plz give me due dates for filling income tax returns for AY 2009-10

Dear Sir,

We have raised Invoice to customer for sale of material, but in transit material damaged. Party return back material to us.

The damaged material claim received from Insurance company.

My question is : Is the Insurance claim received shown under the head of misce. Income or down the purchase value of raw material materail ?

Pls give me your valuable advise.

Baljinder Singh

if i make payment of Rs.19,000/- each in three times towards labour chg. then can tds liability is come

can partner withdraw upto rs.5 lacs from his partnership firm.

pls give me answer quickly