I want to restart my study and want to appear the PE-2 examination in May’08.

Due to some personal reason, I could not attend examinations after completion of my articleship (Articleship period : 16-11-1998 to 15-11-2001).

Kindly advice me how could I appear in PE-2 Exam in May’07.

Thanks & regards,

M Srijesh Kumar

Dear Sir,
I have a query regarding applicability of deemed STCG on depreciable assets.
FACTS of the case:
X Pvt Ltd have a factory building constructed in February 1990 for Rs.10 lacs on a leasehold land (rights for 99 years). The building was used for production purposes upto September 2000. Hence till A.Y.2001-02, we were allowed depreciation under I.T.Act. The closing WDV on March 2001 was Rs.6 lacs.
From 2001 the building was let out for rent and income was considered under head House Property.
In June 2007, the building was sold for Rs.30 lacs.
QUERY : Whether we can claim LTCG with indexation from 1990 on WDV, claiming the asset to be no more depreciable and as a capital asset; and also claiming that the source of income generated from the asset has changed ?
If not what should be the taxability of the case ?

Thanking you for your reply.

Hi

Whether PF is attracted to Leave Encashment?
If Yes, Kindly so mention the Section.

Does any one have explanatory material/concept note on LLP? Espcially one, showing comparison between law introduce in India and law prevalent other countries where LLP concept is well settled

HELLO SIR

EXPENSES INCURRED SUCH AS STAMP DUTY REGISTRATION (ROC) ECT FOR INCREASE IN AUTHORISED SHARE CAPITAL OF PVT LTD CO. WHETHER IT IS ALLOWED U/S 35D AS A BUSINESS EXPENSE,
THE ACIT HAS DIALLOWED IT SAYING IT IS CAPITAL EXPENDITURE AND NOT ALLOWED AS EXPENSE
SO CANT WE CLAIM 1/5TH OF EXPENSE EVERY YEAR UNDER 35D

sir, could u pls let me know the formula or how is the price fixed for Rights issue , as per sebi price is fixed one day prior to record date in consultation with the DSE,
but Draft letter of offer placed before the board needs to know the price as it is on the basis of price the no of shares are decided.

also tell me how to calculate the pro-rate basis

I would like to ask whether is it compulsary for employee to travel alongwith his family to avail exemption under sec. 10(5).plz give detail on this matter as early as possible.

whether all types of reimbursements are not taxable in the hands of employees. like telephone, uniform and medical.

if not, what are the limits for those.

if company wants to issue its forfeited equity shares than it may possible that all the amount forfeited transfered to capital reserve and after that from that amount it can issue bonus share as it was capital reserve !

Under Micro,small and medium enterprises Developement Act,2006, a supplier is entitled to interest in case of delayed payment irrespective of agreement between supplier and customer.Whether such interest can be considered to have accrued as income liable to tax under income tax act, 1961, although no such interest is claimed or allowed or expected to be claimed or allowed.