An Indian Resident is to purchase equity shares in an Indian Company from a NRI.

At the same time the NRI is also to pay some purchase consideration to this Indian Resident on account of a current account transaction.

Can this consideration be set-off and only the net amount be paid to the NRI for the purchase of shares.

Kindly also provide a reference of the corresponding circular / section.

Dear sir while furnishing the the detail of ltcg from sale of house...cost incurred in purchase of land + construction cost.....should we just provide the ammount incurred in construction of house ...or do we have to provide some sort of documents supporting the constrution cost incurred...

Purchase date of land- 1988
cost of land- 48 thousand (48,000)

Cost of construction yr 1990- 3 lac
cost of construction yr 1995-2 lac

Sold the house in 2011
ammount- 18 lac

Should v just provide the figure of construction cost
Or do v have to provide some sort of documents supporting the constructin cost?

Pls guide
Thanks

Sir,

CAN WE CLAIM VAT CREDIT ON CAPITAL GOODS LIKE COMPUTER, FURMITURE & FITTINGS, VEHICLES... ETC UNDER THE PROVISIONS OF KVAT RULES... OUR CLIENT IS A MOTOR VEHICLE RETAIL DEALER... PLS REPLY QUOTING THE RELEVANT APPLICABLE SECTIONS :-

I. Tax Return (ITR) require assessees to give information about certain transactions entered into during the previous year, which are reportable in the AIR u/s.285BA.
My query is, if an individual and his spouse jointly purchase an immovable property (say) for Rs. 40 lacs and the share of each is 50% i.e. Rs. 20 lacs each.
My query is whether this information is required to be given in ITR by both individually?

what kind of qualification a Statutory auditor can put regarding internal audit fuction of the management.

SIR, I HAD FILED A FORM 1A OF PVT LTD WITH 2 PROPOSED DIRECTORS AND WE GOT THE NAME APPROVAL; BUT NOW THE DIRECTOR WANTS TO ADD ONE MORE DIRECTOR IN THE MEMORANDUM. THE FORM 32 AND THE PROCEDURE IS YET TO BE COMPLETED. PLEASE GUIDE ME HOW SHOULD I RESOLVE THE SITUATION? WHETHER NEW DIRECTOR BE ADDED AS PROMOTER OR IN ANY OTHER CAPACITY?

One of our clients refers students to an University in Australia by sending all the student details as required by the University and gets commission from the University if it accepts the student. Is service tax applicable to them?

Dear all,

Please provide me some clarity on the Yield part of dividend on Preference Shares and also please throw light on the provisions related with this subject matter.

Further please tell me whether any provision has to be created for payment of this yield.

Many Thanks in advance.

Dear Sir,

An employee has completed 4 years 11 months continuous service. Whether he is entitled to get gratuity.?

Dear Sir,
Can article under CA file income tax return ?
have any prohibition? tell me..