Best CA final books for subject wise.

Sir Please Give me Solution

I Have Purchase in Kotak Mahindra Mutual Fund
Monthly Plan Amt 1000 Per Month Nov 2012 to Feb 2014 Total Cost = 16000
Sale of Kotak Mahindra Mutual Fund = 21510
Sale Date = 25 March 2014

So Please Give Sale of Mutual Fund STCG or LTCG and Tax Rate.

Dear Expert,

Whether a "Pathology Laboratory" run by qualified medical person is Business or Profession for the purpose of Section 44AB of the Income Tax Act ?
The said laboratory is undertaking medical test of persons referred by other doctors and also walk in patients.

I have perused explanation and guidance given by Hon. SC in the case of Dr. Devendra Surti [1969] 34 FJR 376 / AIR 1969 SC 63 on what is profession and Commerce. Also this is relied upon by the Gujarat High Court in the case of CIT Vs. Dr. K. K. Shah [1982] 135 ITR 146 (Guj). Further, Guidance Note published by ICAI at page No. 18 and 19 clarifies as under:

" 4.4 The following have been listed out as professions in section 44AA and notified thereunder (Notifications No. SO-18(E) dated 12.1.77, No. SO 2675
dated 25.9.1992 and No. SO 385(E), dated 4.5.2001):

(i) Accountancy
(ii) Architectural
(iii) Authorised Representative
(iv) Company Secretary
(v) Engineering
(vi) Film Artists/Actors, Cameraman, Director, Singer, Story-writer, editor, singer, lyricist, dress designer etc.
(vii) Interior Decoration
(viii) Legal
(ix) Medical
(x) Technical Consultancy
(xi) Information Technology

4.5. The following activities have been held to be business :

(i) Advertising agent
(ii) Clearing, forwarding and shipping agents - CIT v. Jeevanlal Lallubhai
& Co. [1994] 206 ITR 548 (Bom).
(iii) Couriers
(iv) Insurance agent
(v) Nursing home
(vi) Stock and share broking and dealing in shares and securities - CIT v.Lallubhai Nagardas & Sons [1993] 204 ITR 93 (Bom).
(vii) Travel agent.


From the above it seems that "Medical" is included where as "Nursing Home" is excluded based on the above referred two judgments as Nursing Homes generally treats the patients from outside referring doctors apart from their own.

In case of my clients viz; Pathology Laboratory all their patients are referred by other doctors and also treats walk-in customers; all these patients are treated for income to earn profit and not for service.

Kindly review the position whether it is a business or profession ? Also please confirm from all possible sources how this being treated for Section 44AB in trade.

Your response and valuable advice will help me a lot.

Thanking you.

Sirs,

Ours is a manufacturing concern we are paying some travelling expenses like train/bus charges and accommodation for outsiders who are came for technical services for our plants can i debit these expenditure under travelling expenses others if we did so any taxes will attract on the same

Is TDS deducted on internet charges paid by the company????

i have taken c-form vat.kar.nic.in (Karnataka) but i have entered the amount wrongly so i want to alter the c form so is it possible to alter??? if possible pls suggest me how to do ??

how to register my TAN on tdscpc

Could you please explain the journal entries and the effect in R&P Account

1. FD Balance as on 01.04.2013 is Rs. 41,09,947.00 (This includes FD principle Amnt 40,00,000 and Int acrued 109947)

2. During the year FD is closed and recieved interest of 179442.00, what is the journal entry?

3. How this will effect in the Receipts and Payments Account?

Dear Sir
One of our employee has taken housing loan for the home at Pune. He is working in our Company at Mumbai and his dependents are staying at Pune.

He has submitted Housing loan certificate to claim the principle and interest deduction in his TDS also he has produced rent receipts since he is staying on rent at Mumbai ?

Shall we consider both his housing loan deduction as well as his rent receipts for deduction in his tax liability ?

Please advice.
Regards
Arun

Pls adv, if we make telephone payments for a lumpsum amount for subsequent months in advance, which entries should be passed. Pls explain the ledger name to be debited under which main tally head. Also, how will the entries be written off in the subsequent months. Pls explain dr and cr with example.

Thnx and regards
Gurvinder Singh