1)Suppose i am an insurance company &
2)i am settling a claim on behalf of damaged Motor Vehicle whose historical cost is say 5 lakhs, and i am settling the claim at 2.5 lakhs, in excchange of that damaged car.
3)When i sale the damaged car i will realised only Rs 10000,what will be the cost of the vehicle for charging VAT, Is it 2.5Lakhs or RS 10000

I am PE-2 student and will appear exam in MAY-2008 for Group-2.so my query is,how to read effectively in the subject of Information Technology,Income Tax and Cost Accounting&FM?and how to get good marks in these subjects and what content(means quality of writing) should i write in these subjects so the Examiner can give me more marks.In previous attempt,i have tried my best level in the exam but result was bad.so i am not able to understand my mistakes in these subjects.so plz.kindly suggest me.
THANK YOU.

Is Secondary higher Education cess applicable to Individuals for the AY 08-09?

I CLEARED CA FINAL SECOND GROUP IN MAY 1988 AND AFTER 20 YEARS APPEARING FOR FIRST GROUP THIS MAY.
I HAVE ONLY 7 WEEKS TIME FROM NOW TO PREPARE FOR THE EXAMS - NEED TO DO IT FAST AND EFFECTIVE.
I NEED QUICK-START TIPS TO HELP ME ACCOMPLISH THIS TASK LIKE
- HOW TO PROCEED PREPARING CRASH COURSE ? - TIME SCHEDULE TO INVEST THE AVAILABLE TIME., WHICH SUBJECT HOW MANY DAYS ETC
- THINGS TO DO LIST,
- SUGGESTIONS THAT WILL HELP ME WRITE/PERFORM BETTER IN EXAMS. I SHALL BE GRATEFUL IF SOMEONE HELP ME . THANKS

At the time of full & final settlement if any amount is due to the employer e.g. towards notice period recovery, excess leave availed etc. - Can employer touch base on the super annuation fund which has been contributed though its forming part of the cost to the company of an employee.

In a similar way can employer touch base upon the Gratuity if any due to the employee for servicing 5 consecutive years.

WHAT IS STATUTORY BONUS

One person went for a mediclaim policy with a Insurance Co before going to USA.

He was hospitalized there & the expenses for the treatment was taken care by his brother in US.

After returning back to India my father produced all the bills to the concerned Insurance Co & it is in the final stage of receiving the amount.

Now my question is ...

Is the amount received an Income to my father or should he transfer the same to my brothers account in India?

Checked with my CA, he said it can be treated as Capital in my fathers account.
please claryfy me

LAW : S-2(42A)
STCA --SHARES(WHETHER LISTED OR NOT) HELD FOR <= 12 MONTHS



Q/A : I HAVE A SHARE & I HELD IT FOR 34 MONTHS.BUT I AM CLAIMING IT AS 'STCA'!! IS IT RIGHT OR NOT,If it is right wat is the special feature of that SHARE !!!!

1-ONE LADY HAD A HOUSE WHICH IS HER!S NAME BUT PAYMENTS ARE MADE BY HER HUSBAND BUT IN MUNCIPAL RECORDS THE HOUSE IS HERS NAME WHO IS THE OWNER OF THEPROPERTY.
FROM TOTAL PAYMENTS OF THE HOUSE SHE PAID RS.25000/-BALANCE AMOUNT PAID BY HER HUSBAND
SHE ALSO ACQUIRE A LAND FOR RS.50000/-IN LAST TEN YEARS FROM HER PIN MONEY AND SOLD DURING THE YEAR FOR RS.1400000/-
FROM THIS AMOUNT SHE GIVE RS 800000/- TO HIS SON FOR PURCHASE OF NEW HOUSE

WHETHER RS.800000/- PAID TO SON IS EXEMPT FROM CAPITAL GAIN TAX

as it is not possible to get set off of business profit against long term capital loss. however, can it is possible to carry forward business loss set off against the long term capital gain.