My father purchase a property in 15-11-2006 of 5,80,000 rupee and then he gifted (transfer) me (his son) this property in 14-9-2016 now i am selling this property , now the confusion is this who can take capital gain of this property me or my father under which section ?

I am currently one of three working members in a family of four people. My Mother, Father are also working and my younger sister is currently in college. In order to save certain tax liability and to make financial investments, we decided to save money in form of FD in my sisters name.

I wanted to know if that would attract any tax liability? To elaborate further, I have the following specific questions

1. When we transfer money to her account, can that be counted as a Gift ? If not, would that attract any tax liability ?
2. If it does get counted as a Gift, would the income from FD be counted as her income or would that be clubbed with the income of the people who are gifting her that money ?

Our objective was to create FD Interest that comes under less income tax bracket. All three of us (My mother, father and myself) earn more than 10LPA and hence come under 30% tax liability bracket. My sister is older than 18 and hence an adult. I am also clear that at the very minimum, the income generated from the FD would be her income and we would need to pay Tax on that, which we are diligently doing

Whether NRI can invest in agri land purchase cost Rs.4000000. Whether he can use liberalised remittance scheme for such purchase if so upto how much he can utilise? Whether he can remit money through NRI OR NRO ACCOUNT?

sir,
we are just started a business and we are three partners. one partner withdraw some amount from his capital investment and its paid by cash. then how we can entry in tally. please explain with the entries

Dear sir,

I have a accounting related issue. I am preparing accounts for my client. The issue while accounting is this he sale to varies party non gst goods ( Hari Mutur ) from purchasing the mutur from agriculturist.

He sale in the name of orignal party and receive the payment of sale from some other party on behalf of orignal party. Now how the balance of orignal party and other party (who transfer us the payment but no sale is made to them) treated.
example- sale made to rajendra for rs 10 lakh and bill is raised in the name of rajendra for rs 10 lakh and payment is received from akshat rs 10 lakh now how i adjust that payment from akshat is recieved on behalf of rajendra. my issue is how i clear the both account.

Please suggest

I have received a notice under section 143(2) for AY 2017-2018(of which ITR is already processed)regarding cash deposits and withdrawals.Where i have been asked to reply through e-proceedings.My Ca's advice is to wait for questionnaire U/s.142(1) to enable me to reply.(As U/s. 143(2) there are no specific questions or reasons.)Due date for 143(2) is 5/9/2018.What should i do wait as per Cas advice Or ?? Please help.

TCS ON PURCHASE OF CAR IS REFUNDABLE OR NOT

Dear Sir,


My client business is recharge of Videocon & Dish tv etc. and also serivce center operate then he will get Commission on Sales of 5%. and his turnover hiked 2.5 Cr. then my question, Client is liable to tax audit or not.?

Kindly explain in details.

HI EXPERTS

MY BUSINESS TURNOVER IS LESS THAN 75 LAKHS PER ANNUM . MY PROFIT MARGIN IN BUISNESS WILL BE AROUND 15 TO 20%

CAN I OPT FOR 44AF AND PAY TAXES AT 8% , EVEN THOUGH MY ACTUAL PROFITS ARE HIGHER.

PLEASE REPLY

Dear All,
What is the accounting treatment of 234A, B , C Interest & If it is included under Interest expenses should it be disallowed?
Regards,
Kiran.