1 what will be the journal entry when a builder buys a land for construction purpose 2 if he buys a land with someone for only purpose of profit sharing what will the journal enty

Residential property which was owned by individual for more than 15 years and used for commercial purpose in proprietary concern now sold in F.Y.2015-2016. Depreciation has been claimed on this property in business through out these years. My question is whether sale of property will be LTCG or STCG? Is there an possible way to save tax in this case? Please give reference of sections, case laws etc. Please reply urgently since the case is covered under 44AB and due date is closing in.

Hello everyone, My query is regarding Capital gain on sale of building after 36 mths. As per me, if building held as business asset then capital gain will be always short term (Sec50) and if building held as personal asset then long term. Whether my understanding is correct?

Sir i wanted to know is it fesible to opt for the presumtive income scheme u/s 44 ADA for a professional if the income is around 40L.. And if this is opted do i need to pay advance tax this year... TIA

Hi,
I saw a query answered here stating that we can add port as branch while applying for IE code. (Thank god I found it, or it would have taken time & effort to modification... info is scarce online, when it comes to IE code)
I can see add branch but how to fill all the address details for port...
Kindly help me in this regard

Can we consider Books and periodicals as an fixed assets in case if an individual is an ADVOCATE? Please suggest me, sir

can anybody let me know that if there is any batch for itt and opt give in January month or tell me that when itt and opt starts from which month

is there any formula adopted by banks for availing the loans on the basis of clients ITR?? are there any common calculations on which banks rely on to provide loan amount to its customers??? how they calculate loan amount eligibility using ITR??

compiler of yogendra bangar sir for DT and Idt is good for exams or whether I should go for VG summary book n manoj batra in Idt.because compiler of bangar sir includes everything n I need not have to read from any other book...n if I go for VG n batra sir's book...I have to read a lot on the day before exam which is very short time... hope u understand what I want to say...plz suggest me

the firm had a turnover of 65 lakshmi and earned profit of Rs.58000. after deducting remuneration and not on capital. if these two added the profit is above 8% of turnover. whether the firm liable for tax audit.