Dear Sir
Im involved in Concurrent Audit of a public sector bank. Can u plz provide me with a checklist of all the major areas.

A Company received Rs. 1 Crore as compentation for cancelling a Sale Agreement pertaining to acquisition of land. Is that receipt of Rs. 1 Crore to be shwon as revenue in the P/ L account or can it be treated as deferred income and taken to the P/ L Account for a period of next 4 years commencing from A. Y. 2008- 2009.
What are the Tax implications and is there any Tax Rebate available for that?

Please note that the property was never acquired by the Company, hence, there was no transfer of Capital Assets and Sec. 51 is is not applicable.

I have gained a short term gain by sale of Residential Property in less than 3 years.

I earned Rs. 2.50 lakhs. I have paid interest on housing loan of Rs. 54,953/- as interest in year 2008-2009. and Rs. 33,033/- as in in the previos year (07-08).

I have also spent Rs 65000/- of Repairing and redoing of house in the current year for that also I have taken a loan from HDFC. Other expense for aquiring the house are registration and Stamp duty of Rs. 23000/- and Property tax paid to Municipalty is Rs. 5000/- My net income from salary is Rs. 166000/- please help me to calculate my tax liability. I have paid Rs. 6000/- as interest on loan taken for repairing.

I WANT TO KNOW WHETHER A PERSON WHO IS NON- RESIDENT IS REQUIRED TO OBTAIN PAN NO AND FILE A RETURN IN INDIA IN CASE OF INCOME TO BE RECEIVED BY HIM FROM A PRIVATE COMPANY TO BE FORMED IN INDIA IN WHICH HE IS PROPOSED TO BE A DIRECTOR ? HE IS ALREADY FILING HIS RETURN IN US IS THERE ANY OPTION AVAILABLE

i hav recently cleared my CA final and i got a job opportunity for working in a good CA firm , but however , the articleship period is pending till April 09 .
the new firm asked me to get a secondment form from the firm in which i am presently working .

my quiery is
1 ) who will be paying me the stipend for the training period
2 ) whether any form needs to be submitteed to the institute , and if yes , then where can i find that form

plz help out !!!

i am a qualified CA.......
i'm trying for jobs since 15 days ....
i didnot get any calls till now......
can anyone plz suggest me how n where 2 apply

I got 10th rank in cpt and 38th rank in pcc. should i apply in top ca firms or in medium level firm and concentrate more on my study. pls suggest with name, add, phone no., email. of firms io which i should apply.

sir what is the due date of payment of providend fund, ESI and profession tax and if it is not paid within due date what is their consequences

Can any one clarify......

I have a property in mumbai, & i have sold the same to one private limited company. Now process to transfer a property to buyer is under process. During the period buyer agree to pay me some amount every month & then he will deduct the same from final amount already agreed between us( on transfer of property to his name)

he will pay me monthly amount after deduction of TDS( as per TDS % on rent )

how will i show the above in my computation of I tax ???? is it income from House Property or in next year the same is from Capital Gain ?????

Revert urgently......

Thanks in advance

Jignesh Amin

One of Our Client Has a trust received Donation in Foreign Currency so is there is any requirement to intimate RBI or any Agency about i, and is FEMA Will be applicable to it please send the reply as soon as possible