in company's books there was a land in fixed assets
opening value Rs. 50 lacs (purchased in f/y 2006-07)

Sale during the f/y 2011-12 = 1 crore

how to treat this transaction in company's books?

as land is non depreciable asset section 50is not applicable..
can we indexation benefit on the sale of non depreciable asset?

i have done b.com 3 rd year in external department..because of my c.a ' s advise i had not disclose my t.y b.com in articlship form as per her opinion there is no clash time arise in external course..is it allowed or not??as i had completed 27 month of articlship...now there wil, chance to arise any problem at the time of membership certificte about not disclosure of b.com external?? if yes thn what r d procedure to rectify this mistake??any late fee and allowed to submit form 112 ???

dear sir / medam,
please clear my doubts about following sections.
1. I sold my land in 2013-14 and got capital gain of 80 lakh .can i get the exemption for following matter.
A. can i treat it as agriculture land and get exemption for that as rural agriculture land .
B. can i avail benefit of section 54b if i acquire another agriculture land within the 2 years of transfer?
please clear one more thing that is how could i prove that its used by me for agriculture purpose from last two years of transfer.
please clear these doubts .

do I have to take any registration for opening warehouse business......I have taken few godowns on lease and want to give it on rent...is there any regulation in income tax ......

hello. I am an Entrepreneur, we have textile export business, ours is a partnership firm and we are registered under Small scale industries.. I would like to know if there is any exemption or deduction for SSI units under Income Tax act

FY 2006-07 service tax limit cross taking registration & paid service tax

FY 2007-08 below service tax limit but paid service tax

FY 2008-09 onwards never cross service tax limit not charged service tax & not paid service tax it is right

please clarify

how is service tax & vat assessed for a service provider providing service in the nature of interior designing and architecture?
Thanks in Advance

Dear Sir,

which entry in tally FD interest directly credited by bank and directly deduction tds by bank, so how can enter in tally --- which ledger and group

Mr. A is running a trading business. He wants to involve his brother and to make a private company. How can he do? How can assets and liabilities be transferred? And how capital is introduced in company, by cash or in form of assets other than cash?

Hi Experts,
We are running our real estate business of selling commercial shops. We are an authorized agent between buyer and seller and it was also mention in sale deed that we collect whole sale consideration on behalf of seller.
We collect whole amount of sale consideration from buyer say(Rs850000/-) and paid to seller (say Rs 700000) and earn Rs 150000 as income. So whether we should consider it normal sale/purchase or consider an commission income. Also suggest me appropriate accounting income.