What is the exact meaning of lineal ascendent and lineal discendent in respect of gifts received from relatives? pls let me know this quickly..

M/S XYZ is a partnership firm exclusively engaged as Direct Selling Agent (DSA) of vehicle loans of a Bank. The Gross Receipts of the Firm is Rs 60 Lakhs (App) during the FY 2006-07. As Per scrutiny guidelines of CBDT for FY 2007-08, under para 2(xiii), "All cases of professional with gross receipts of Rs 20 Lakhs or more if total income declared is less than 20% of Gross Professional receipts.""
The question is "Is M/S XYZ is a professional firm falling under criteria 2(xiii)of Scrutiny Guidelines or it is not a professional firm?

do a charitable trust running a school having a turnover of 40 laks + , will tax audit be applicable to them ( sec 44AB). the turnover of the trust is 6120000

I AM DOING ARTICLESHIP AND ALSO IN S.Y.B.COM REGULAR. MY PCC EXAMS ARE ARE IN MAY 2009.AS MY EXAMS ARE FAR AWAY I HAVE DECIDED TO DO CS.I WANT TO KNOW THIS IS RIGHT OR NOT AND ALSO WHAT ARE FURTHER CAREER OPPURTUNITIES AS CA. And CS ?

Dear Experts,
I m 18 year old & CA final student. I hav cleared my PE-II in may 2007.I m B-com 2nd year student.
I want to know the minimum age 4 appearing in the final exams.& if i will clear my final in nov.2009 when I'll get my qualification Degree certificare.?
Sir Plz tell me the name & age of the youngest student of ICAI who hav qualified CA.

Regards,
Anil Jain.

can after becoming a ca one can join indian revenue department?

if yes,which exam should be given and which arethe posts likely to be offered?

Hi.. I came before with a case..please read..

Facts...
Mr.X is a father of NRI son..He gave his dad a certain sum, which was invested on urban lands in the name of Mr.X and Mrs. X. Later Mr.X & Mrs.X had sold out those lands as individual plots,by making land marks and some earth works done. A part of the amount received was again invested in vacant lands. (The whole process was done within 12 Months)

My Query is:

What will be the tax implication and what steps should be taken for Tax planning?

gjgh

Dear Sir,
We deal with fabrication and fixing of anodized aluminium doors, windows, structural claddings, aluminium composite panel cladding works, etc. to the commercial buildings which are suitable for software offices, commercial offices, etc.

Our scope of work includes aluminium extrusions, in house fabrication people and o ur own labour for fixing. We paying VAT @ 4% on the total value of the work. We are registered with Provident Fund and ESI Corp.

Our query is that DO WE GET INTO THE WORKS CONTRACT SERVICE? If we in the works contract service, can we pay 2% tax on the total value of the work otherthan 12%, please give us a suggestion.

Hi! Iam Ashwini, A student of PE-2. I would like to know about the coaching facilities available in Mumbai.
Expecting an answer.
Please do help me out.
Thank you.
Bye.