A land purchased in year 2003-04.
The construction on the land had been started in 2005-06 and completed in 2007-08.
The same has been sold in year 2009-10. The sale consideration includes value for land and building. No bifurcation is available.
How to calculate Capital gain/loss.
How to find whether the gain/loss will be short term or long term.
How indexation can be done.

One of my friend recd a notice u/s 142(1) for furnishing return, but from last two years, he was not filing his return, as he closed his business 2 years ago & now he doesnot have Income exceeding Minimum tax slab.

Kindly suggest me, what should we do now & which ITR form should be used as ITR-4 is for PGBP, but he is not operating any business now.

Hi guys,
I registered a public limited company 2 years ago. I had to file income tax return for same last year septemeber.I could not file at that time so I asked my CA to file it now. I have not got a good CA, so just want to confirm few things. I will really appreciate if any kind soul can help me.

1> My CA is saying that he can not use digital signature first time. I have to courier my ITR to bangalore (Ordinary post).

2> Now If I courier my return to bangalore and it get lost on the way, What proof do I need, in case sometimes in future Income tax department ask for same.

2> Can I file a physical copy of return in Hyderbad. Company is listed in Delhi and I am in Hyderabad currently.

3> Any thing that you think I need to take care.


Regards
Dinesh

Sir,
This is regarding refund of TDS made 3 years back and i was waiting for the TDS certificate and i got the same recently and on filing the Dept denies to issue, Can any way get the refund,,, Is it amounts to Genuine Hardship, can any one quote any caselaw relating to the same situation, Pls help

plzzzz can any one tell me tht which course(cwa/cs) is better according to passing % of the all india students..i want to know according to just PRIEVOUS 2-3 yrs how much pass result keep by those institute????
i want to do one course between these two ?????

Respected Sir,
shall be CCTV Camera affixed in the factory premises of the company depreciate?

In which group it will fall?

Wht will be the rate of depreciation as per Co. Act & Income Tax Act?

if a student is under going his articleship then can he become a sleeping partner in a partnership firm?
if yes, what are the formalities or procedure.

Please advise me from where i should take coaching of IDT of CA Final. (Other than Deepak Gupta as his fees is too high)

Also advise me that will there is any difference between sattelite classes and face to face classes of Praveen Sharma Sir.

My attempt is in May 2011

Thanks in advance

Hi, Experts,
We have a loan of 5 Milloin USD which was sanctioned on 1St April,2008, When the INR/USD rate was 44 Rs. So, it turns out to be 220 Million INR, loan. However the rate of exchange on 1st April,2009 was 48 INR/USD. So, it turns out ot be 240 Million Rs. loan. I would like to ask experts whether the interest rate differential wil be calculated, by comparing the interst of 5 million USD with 220 million INR or by comparing the interest of 5 Million USD with 240 Million INR.

Dear CA Friends

Please do clarify the following, its very important and We need it asap.
One of our client manufactures LED Lights (Street Lights,Office Lights etc) which runs both on AC & DC, I am no doubt AC Lights come under Excise, but in DC lights there are Three types:
1) The DC Light is sold as it is, which can be connected to a battery or AC to DC Convertor or even a external Charge control can be fitted to use solar PV Module to Make it a Solar Lighting System, as it is sold as it is, I am of the opinion that it would attract excise.
2) Secondly DC Lights are fitted with Inhouse charge controller which is manufactured by the company itself and is sold with panel PV, which is procured from PV Manufacturer. Whether this attracts excise?
3) Thirdly, DC Lights are fitted with inhouse Charge Controller which is manufactured by the company and is sold without PV Panel.
I want to know whether the applicability of notification no 6/2006 is applicable for the second and third type. Especialy in third type as it would not be a non conventional energy generating system.
Please do clarify the above asap

regards