Is the value of an asset (stocks, MF holdings, real estate, agri land, house...etc) shown as market value or cost value, every year on the balance sheet. I mean if one had bought a plot for say 1Lac in 2000, do i need to show the same value in my balance sheet of every year and until i sell it or do i need to update its value every year in my balance sheet. Also for an asset transferred as gift or inheritance, do we show on balance sheet, the cost value at which it was bought by the original buyer or the market value at the time which we got it as gift or inherited. Thanks in advance!

Our company is a public company (State Government Undertaking). There are total 11 directors on our board out of which 10 are Nominee Directors. To the best of my knowledge provisions of retire by rotation is not applicable on Nominee Directors.

My question is that, how many directors are liable to retire by rotation at each AGM.

Hey friends, i hv done my graduation and am working right now and will be continuing same for next 3 years after wch i will do my MBA
So, can you provide some list of 6-12months recognized coresponding courses in finance wch i can do right now
provide complete details which course, from where, etc

Any one please explain how relief u/s 89 available to advace salary. As advance salary relate to future years how we can calculate relief based on future salry slab which not known in the year of receipt of advance salary.

Eg. In FY 2009-10 My salary is Rs. 3 lacs p.a. and I have received advance salary Rs. 5 lacs of 2010-11 how relief is calculated? Because if entire advance salary Rs. 5 lacs taxed in FY 2009-10 tax slab will be higher than if it would have taxed in FY 2010-11. please advise?

Is Political Assesse need to submit return file u/s 139(1) even if he income is not under taxable slab limit?

Hi,
i just want to know the significance of column no 413 and 420 in form 26q in tds return.

Question related to interior decorator/ architect providing services such as taking project to complete interior construction of a building for which it supplies material , labour & simultaneously provides services of interior decorator consultant, therefore how tax should be charged by susch interior decorator on his bill i.e on which % value vat to be charged & on Which % value service tax to be charged & on which value consultancy charges to be charged by such service provider & on which value service tax to be paid by such interior decorator.
Please explain in detail with relation to different sections of service tax, V.A.T etc

Respected Sir,

I'm having one query regarding Income From Other Sources i request you to consider the following case:-
If 'A' receives sum of say Rs. 200,000 as a compensation on account of death of his father. His father died in an accident which proved by Court of Law as an intentional act. The person created crime agreed to sum of money as compensation as per court order. Then in this whether the sum received will chargeable to tax or is exempt u/s 56? If no, whether the answer will differ if it will be received as Pension? 'A' is not subject to income tax, whether he has to file a return?

what is the diff b/w RPF and EPF and i have doubut dat which interest rate is hiked,bcoz earlier interest on RPF credit balance excess of 9.5% will be treated as salary and taxable.


please go through for notification on the above query
http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=NOTF&schT=&csId=679ecf4a-4c15-4199-aed4-6102755ed0ba&NtN=&yr=ALL&sec=&sch=&title=Taxmann - Direct Tax Laws

A organization registered as a NGO in 1993 n got a PAN number 2 years ago but had not filed any return.
CAn some1 tell me what he should do now.n how NGO will be assessed in Income tax.
Will NGO will be assessed as a trust or what.

Please reply me soon i will be so obliged to you if u reply me.

Thanks