My client is resident Indian professional who had previously worked abroad. He has funds lying over there which is shown as investments in books of account and has paid tax on interest earnings over there as per DTAA with that country. Now, he intends to transfer back to India.
Whether there shall be any tax liability on foreign exchange gain that arises due to transfer

AN INDIVIDUAL IS VALUING SHAREs AT "LOWER OF COST OR MARKET VALUE SCRIP VISE". THE ASSESSING OFFICER HAS RAISED OBJECTION AND WANT TO VALUE SHRES ON " LOWER OF COST OR MARKET VALUE ON GROSS BASIS"
THOUGH AS -13 " VALUATION OF INVESTMENTS CLEARLY STATES CURRENT INVESTMENT VALUATION IS TO BE DONE ON INDIVIDUAL BASIS. THE OFFICER HAS ASKED FOR ANY CASE LAW ON THE MATTER .

IF ANY BODY CAN HELP ME IN THIS MATTER---
THANKS AND REGARDS
---singh_v_b@hotmail.com--

Good Evening Sir,

As per Section 40(A)3 of Income Tax Act, if Payment is made through CROSSED Cheque(not A/c Payee Cheque) is it treated as allowable expenditure if the payment exceeds Rs. 20000/-

Which carrier is more promising for a qualified chartered accountant?

an assessee has 1/6th share in an inherited property since 1995. in feb 2006, the property was sold to the builder and the assessee is compensated with a two bedroom flat for his 1/6th share in the property and the amount is not quatified in the agreement.the possession of the flat is given in sept 2008 by the builder. the flat is sold after getting the possession.

The queries are:
1) how to arrive at the capital gain in feb 2006, when the property was sold to the builder.
2) when the flat is sold after getting the possession, wheather the period under which the flat was under construction will be counted for ascertaining the short/long term capital gain?
3) what will be the cost of acquision in both the cases.

Dear Sir,


wat is Company Bill,2008.

will it change the whole of existing companies act 1956???????

& will i need to study it for my May 2010 Exams??????????

I have gone through A Riddle and found that 2 Bastsmen on 94 each 3 balls remaining and can both of them get 100rds.
I would like to add something more they both can get hundered's on 2 consecutive balls and in the same over and ball doesn't hit any helmet/cap.

I have gone through A Riddle and found that 2 Bastsmen on 94 each 3 balls remaining and can both of them get 100rds.
I would like to add something more they both can get hundered's on 2 consecutive balls and in the same over.

ours is manufacturing co, can we avail cenvat credit against payments of telephone Bills/other bill.pls give me reply to uvbr@rediffmail.com

I hav withdrawn my Superannuation Fund from my Co's Fund. But TDS is deducted @30.9% from my payment. I know that exemption is not avaiulable u/s 10(13). My question is

1) is TDS deductible @ maximum rate?
2) Cant i claim TDS in my Tax filing.

Plse reply.