Dear Sir, I m Sudeep From Raipur an assessee doing share trading personally. In ay 2013-14. I hv a loss of 34107 from intraday share trading. Being speculation loss Whether it should be audited? And if yes under which section? Books of ac's is required to be maintained? I hv heard that capital income and speculation income doesn't attract tax audits. Only normal business income comes under it. Also I hv admit it on my itr for carry forward without audit. And after sone time I hv received a notice u/s 143(1). In which department has added that loss of 34107 as profit under business and profesion head. And claim a demand of tax. What I hv to do? Pls clarify me thank you.

Dear Sir, I m Sudeep From Raipur an assessee doing share trading personally. In ay 2013-14. I hv a loss of 34107 from intraday share trading. Being speculation loss Whether it should be audited? And if yes under which section? Books of ac's is required to be maintained? I hv heard that capital income and speculation income doesn't attract tax audits. Only normal business income comes under it. Also I hv admit it on my itr for carry forward without audit. And after sone time I hv received a notice u/s 143(1). In which department has added that loss of 34107 as profit under business and profesion head. And claim a demand of tax. What I hv to do? Pls clarify me thank you.

Dear Sir,

Firm Name: Patna Book Store(Partnership form)
Two partner include total Capital Rs 11000/-
i making Pl account there show Net Loss: Rs 13000/- when i finalize above account there i adjust loss in capital account, Now capital show Rs 2000/- Negative

pl advise me capital show negative is correct or not ? where is loss adjust ?

pl sir advice

Pl let me know the procedure for increase in authorised share capital and issue of shares at premium as per Co act.2013

Dear Sir,

we are reseller of cosmetic product im Maharashtra , now we want open our branch in gujrat & Punjab, so kinldy let me know the rate of vat for gujrat & punjab state.

thanx

Mohini

Dear sir/madam


greetings of the day

someone kindly tell me whether balance sheet prepared under schedule vi is required to be file in income tax department along with the retun. if not when it should be filed.

thanaking you
ca ashutosh

Dear Experts,

A person is having proprietorship firm ABC and he is also a partner in a Firm XYZ.
If a machinery is purchased in name of proprietorship firm and on same day of purchase the proprietor wants to introduce that purchased machinery in the partnership firm XYZ as his capital.
Then in such case who will claim the benefit of depreciation XYZ or ABC.
In my opinion since Partnership Firm XYZ is using that asset therefore XYZ should claim depreciation benefit. But at the time of assessment AO will say that the bill is in name of Proprietorship firm and depreciation is claimed in XYZ.

I want to know what is the proof of ownership for partnership firm for any moveable assets which is introduced by the partner.

Regards,

Dear Experts, Kindly clarify what is the depreciation rate for commercial vehicles acquired after 1st october 2009 as per income tax act?

How much tax is applicable on sale of second hand machinery and equipments in Andhra Pradesh???

Whether tree's situated in a agricultural land is treated as agricultural land for the purpose of Capital gain calculation, when these are compulsorily acquired by the NHAI.