i have registered myself for ipcc under direct entry scheme but due to some reasons i want to get out from this scheme and want to enter ca course through cpt.....is it possible to convert from direct entry to cpt...PLZ REPLY...

Sir/Madam

What can be give under Main objective of a company in Form 1A, for an engineering company?. Irequired the details which must suit the Form 1A main objective column.
plese help me.

why is right issue in new company bill 2012 being offered for ESOP?I would like to know the reason?

Dear friends,
I'm unable register a pan at efiling website due to non availability of date of incorporation.Pls guide me.

Dear Experts,

Please clarify whether to fix agreement stamp or revenue stamp on share certificates of private limited company while issuing new share certificates.

Thanking you,
Viral

Dear Sir,

My father in law purchased a house in March 2001 for 4 lakhs. Upon his death in Sep 2011, my wife inherited the house (sole heir). We sold the house in July 2012 for 30 lakhs.

My query is regarding the tax implication for the sale of this house.

Since my wife came into possession of the house in 2011 and sold it in 2012, does the gain arising from the sale qualify as a short term capital gain or does it qualify as a long term capital gain?


Assuming that the cost of indexation is taken from the year 2001 onwards (the original date of purchase), I calculated the indexed cost of acquisition to be:

(Purchase value * CII for 2011-12)/(CII for 2001-02) = 400000*785/426 = 737089.

So, the capital gain would work out to be:

Sale price - indexed cost of acquisition =
3000000 - 737089 = 2262910

My wife does not have any other income, so removing the zero slab limit from the long term capital gain, the net LTCG would be 2262910 - 200000 = 2062910

So, the tax liability would work out to 0.2 * 2062910 = 412582


My questions are:

1] Assuming that we treat this transaction as a long term capital gain, is the derivation above correct?
2] How would the calculation be modified if this transaction were to be treated as a short term capital gain?
3] Will investment into PPF reduce the LTCG tax liability?

Looking forward to your help on the same.

Dear All,

Is there will be service tax liability of company on Bills of renting of motor vehicle if the bills are issued on the name of employee and bill amount is reimbursed by the company.

in this case The tax evasion may took place.


My doubt is raised because the actual expenditure is on the behalf of company

We have a joint house loan and property is also in joint name. The EMI is being deducted from my salary account. My wife is a salaried person(government teacher) but her salary is being credited to a local bank(disctrict cooparative bank). This bank do not have core banking and do not have check facility. My wife use to give me some amount monthly in the form of cash. I use to deposit this cash to my account. I have already deposited more than 50000/- to my account which I received from my wife. My query is..

How to treat this cash? Will this be taxable for me?

Please do the needful.

if person has professional receipts more than 15 lakhs and business sales more than 60 lakhs then whether he is liable to TAX AUDT both income?

Is Service Tax applicable if Agreement of Sale is prepared before Completion Certificate & the same is Registered & the required Stamp Duty is paid after the builder has obtained the Completion Certificate??