For the AY 2011-12 the threshold limit for declaring income under 44AD is Rs.60Lakh. Incase the assessee has had a total turnover of Rs. 40Lakh and his 2 minor children have had a total turnover of Rs.20Lakh each, from the business which he runs on thier behalf. Then, can he still declare the income under 44AD even if it exceeds the limit.

If no,then, should the income from minor child be shown under income from other sources with only the income part?

How is clubbing of income to be done in such a case?

Individual sold his land for Rs.15 lacs and purchased 2 Flat's. 1st of Rs. 8,25,000 on his name & 2nd of Rs. 18,00,000 in the name of his son. Please advise on the allowability of exemption u/s 54 of income tax act.
How he can get Exemption for capital gain on both Flat's?

Dear Friends,

Two foreigner Directors have Floated a company in india with authorized capital of Rs. 1 Lac which is not sufficient for running the organisation. now they wanted to know, which mode will be easier to bring and get back the money towards working capital needs etc.. and also the procedure where i will get.

if anybody helps me in this regards that would be great guys as i am dealing this issue first time.

Thank you

one of my friend received a notice from income tax department for non-filing of income tax returns for A.Y 2010-11,11-12.He is salaried employee and his income exceeds Rs.10 lakhs each year and TDS is deducted and deposoted by employer.He did not claim any exemptions previously even if he file return now he has refund. Now dept is not accepting manual returns what shall i do now? if we did n't react for the notice then what will be the consequences

Dear sir/Madam

What will be the time limit to reapply for 12A and 80G once it is rejected?

Dear members, Is there any connection between date of joining articleship and being eligible for campus interviews through ICAI ???

I have entered the wrong PAN of a party that to there is only two Alphabet error. Now i have downloaded a fresh file of Justification File which doesn't consist the error in PAN. please suggest me the procedure how to correct the revised return as the consolidated file & Justification file doesn't error.

greetings!!!
sir/madam... i am pursuing my bba and i have also cleared ca ipcc... frankly i chose ca bcoz had no option after +2...but now i have realized tat my interest lies in doing international business tat involves travelling ,networking ,building relations ,tapping new markets etc... kindly advise if i should complete my ca and then pursue mba....and whether doing ca help me scale heights in business

Sir,

I have joined articalship as on 15th May2012, Due to some personal problem I not completed/Registered GMCS 1 till now. now please advice me about penalty or effect of it.

1. Can now i able for join GMCS 1?
2. If yes then when my GMCS 2 Due?
3. Due to this my final exam attempt and articalship effected or not?

I am affraid about my articalship & final exam attempt, I am not want more delay in my final exams. So Kindly aware me effect of this.
Please help me.

Dear Reader I got the message in mobile from CPC Bangalore It Department that My ITR For 2013-2014 has been processed and Order U/S 143(1) Will be sent .

What does it mean please clearifu it