We have bought residential flat in Mumbai Subburb in May 2002 at consideration of Rs.14 Lakhs + 70000 Stamp Duty + 30000 Registration Charges+ 28000 Brokerage paid to ICICI home search+ 15000+ Share transfer fee to Society.
We have time to time made renovation to the flat amounting Rs. 9 Lakhs.
Now we ( My self + My wife) wants to sale the said flat.The sale consideration is approximately Rs. 1 Crore.
We will be opening the Capital Gains Saving A/c in nationalised banks separately.
What will be the tax position in case we purchase a new residential flat in Hyderabad for Rs.50 Lakhs.
We request to give us clear picture if long term capital gains tax and other tax formalities of this transaction.

I am working in Pvt Ltd Company enganged in the business of civil contract works. Recently we received scrunity notice under CASS u/s 143(2). for a/y 2011-12 & 2012-13. On verification of books AO rejected books u/s 145(3) and income arrived on estimation basis and as result addition arrived for both years. Now my question is since we are aggreed to pay tax on the addition so made can I pass the following entry .The addition in respect of earlier can be brought as a Cash Balance during the current year? If so under what section in IT Act,1961. Pl refer Accounting Standard also.

Cash A/c Dr XXX
Reserves & Surplus Cr XXX
(Entry towards addition )

Reserves & Surplus Dr XX
To Cash/Bank cr XX
(Entry towards payment of tax)
Kindly advise

I am unable to locate the ICWAI Inter CC (Revalidation) questioners -2008 syllabus

Hello CA experts, I want to ask one question regarding articleship.I am currently doing Job and I also want to join articleship. I cant leave Job since its question of survival. so does any firm provide night articleship? ps:- my job isnt related to CA firm to write a letter to CS institute to consider it as articleship. pls pls pls help me out. Thanks alot. Jamir

Dear Professional colleague ,

I had applied for registration of service tax in ST-1 on dated 21.01.2014 user id and password has been generated ,but unfortunately hard copy of ST-1 with supporting documents is not submitted to the service tax department till date,can i have option for submit the said hard copy to the department which was applied on dated 21.01.2014.

Thanks & Regards
Satyendra Kr.Gupta

can anyone suggest me, who studied from
s. d bala book and from sridhar book, As i
m reading from s d bala book, but as there
is not sufficient practical que there so want
to take sridhar sirs book for practice. Is
there same answer pattern in both books?
will it be more advtges to study from
sridhar book. Are any other book can be
taken alongwith sd bala. Thanks in advance

I want information about accounting standard interpretation on AS13. expert opinion on AS13 guidance notes on AS13 case laws on AS13 notofications on AS13

dear Sir,

One of my client have only the tution income as source of income whether he is required to file return under other sources or PGBP ?and is there any requirement to get registered the private tution institute before filing the ITR ? if yes, what is the procedure?

PlZ help

(1) meaning of amount credit or payment in 26 Q TDS return.

(2) Meaning of amount credit or payment in 24 Q return is Gross amount paid to employee.

(3) Meaning of Amount credit or payment in 26 AS Tax credit statement.

Thanks in Advance.

There are three persons A,B,C
A is proprietor of X
B&c are employees of X(officially)
But unofficially A,B,C are partners
they take 25000/- per month salary(cash)each
suppose there is a profit of 3 lakhs after 4 months.They share one lakh each.
Again after 3 more months they get 1.5 lakh profit.They share 50,000/- each.

How each one of them should file IT returns