Hi!

I registered for my articles in April 2013 by clearing my 1st group of IPCC, but I have not yet cleared 2nd group so not yet registered for finals.

Please suggest me, When my final attempt comes?

Dear sir,

My client has earned profit of Rs. 673567/- in F.Y. 2013-14 but due to differance in depreciation as per Book & IT Loss of Rs 722271/- is incured . The client is a Company. In F.Y. 2014-15 client has incured profit of Rs.442556/- & Depreciation as per Book & IT is RS.1000000/- & Rs.1849815/- respectively. Will you please explain how to calculate tax as per IT & Sec. 115JB?????


Thanks in Advance

Can any one please answer my following doubts:-
1. Can we use "INDIA" in our proposed name? For Eq- ABC India Private Limited.

2. As the main object is very big and the amount of space available for explaining it in form INC-01 is very small, so can we mention only the nature of business we will do in the same field?

3. Is it compulsory to give six name in form INC-01 for private limited company?

Dear Experts,

one of my client being a lady has owned a residential house property since 2005.She is regular I.T.Assesse.During F.Y.2013-14 for which a return is to filed now prior to 31/03/2015. She has sold the said house in June,2013 & purchased another residential house property in April,2013.The investment in new house property from means of unsecured loans from relatives which is exceeding the sales proceeds from the sale of old house property likely to be sold in June,2013. Thereafter she has paid the said unsecured loans from the sales proceeds on sale of old house property during the same year.

Now query is as whether she can claim a deduction under section 54 of I.t act to avoid long term capital gain on sale of house property as she invested entire sales consideration in purchase of another new house property to claim the benefit of section 54 or not

Please reply at the soonest to enable file the income return prior to 31/03/2015.

Thanks in advance for prompt reply.

Hello Everyone !

Please answer my below question:

Can the partner's salary be enhanced under section 40b if the profits of the partnership firm increased during assessment?

If in the opening Balance Sheet The Provision of Income Tax is Rs.15000/- and at Present after self assessment i have Paid Rs. 17000/-
what should be the accounting entry should i pass in Tally.

Dear Experts,

Is it permitted to a CA to do private tutorship along with full time COP i.e. a practicing CA is entitled to perform any attest function along with private tutorship?

If yes than what is the procedure to obtain permission for private tutorship with full time COP?

Thanks

dear sir,

one of my client is medical officer, he has obtained housing loan from the bank. the housing loan status is a joint loan account. my client and his mother in law(wife's mother). his mother in law is housewife and seniour citizen.
now my query is my client can claim full interest deductions u/s 24 and principal amount u/s 80c.

please suggest me

"BC & Co." is an Audit Firm, having partners Mr.B, Mr.C & Mr.A who is a relative of Mr. C
Mr.A is holding securities of the company "MWF Ltd." having face value of Rs. 96000. Whether BC & Co. is authorised from being appointed as auditors.?

In this ques. Mr.A is a partner and relative. So, as per the limit of Rs. 1,00,000 for relative, Mr.C is not ineligible making the firm eligible, but taking Mr.A as partner the firm becomes ineligible.

Do we need to pass 3 entries for refund?

1 . at the time of filing the return which we calculate and
2 . at the time of receipt
3. when less refund is received or no refund is received so to reverse it from current asset?