Good morning experts..
Yesterday I came across balance sheets of two pvt ltd. companies, they were holding 99.7% shares of each other [ A company holding 99.7% shares of company B, B company holding 99.7% shares of company A], is it valid ? Please explain the benefits of doing the same...

I am doing accounting for two indiduals whose net profit will be around below 8%.My friend CA has suggested to get the books audited under Section 44ab of the Incometax act.Pl clarify when the incometax return for the financial year 2012-13 AY 2013-14 has to be filed. Is there any extension of time for filing of incometax return.One individual is trading concern,the taxable turnover is Rs.70lakhs.The other individual is Manpower agencies,his receipts is around Rs.60 lakhs.
Pl clariy? Thanks. Regards

I am an qualified BCOM Graduate, passout year 2010. Currently working in Infosys BPO, Chennai.I completed CA CPT in Dec,2008. Due to some financial imbalances, i discontinued my IPCC. Now am interetesd to continue and want to give IPCC attempt in May,2014. No option for coaching, so want to do self study. Kindly advise me how to utilise my time and how to prepare for exams.

can i do mba course in distance during articleship training??

we are a manufacturing unit and planning to outsource some of our process to a job worker. what is taxable for the job worker... excise or service tax. pls note the goods after job work is returned bck to mfg unit for sale. please advice on this

sir,i had joined graduation(b.com in my home town) before joining ca course and now iam in final yr of graduation ..simultaneously iam also pursuing cost and management accountancy course(cma inter) which was joined after joining of ca course..now i joined articleship in my home town only..can i include both(b.com&cma) courses in 112..i.e,b.com as regular course with our college permission and cma as correspondence course??or else required to include only one course??please advice me in this content as soon as possible..

DEAR SIRS
I HAVE RECENTLY STARTED TRADING IN EQUITY AND F& O ON A REGULAR BASIS.WHICH OF THE FOLLOWING EXPENSES INCURRED BY ME DURING THE COURSE OF TRADING CAN BE CLAIMED AS DEDUCTION ON ACCOUNT OF BUSINESS EXPENSES
1)BROKERAGE PAID TO BROKER
2)TRANSACTION CHARGES
2) SECURITIES TRANSACTION CHARGES
4)SERVICE TAX ON BROKERAGE
5) STAMP DUTY
6) MISC. CHARGES PAID TO BROKER
7) INTEREST PAID ON FUNDS BORROWED FOR TRADING FROM NBFC'S /FINANCIAL INSTITUTIONS

PLEASE REPLY SOON
THANKS IN ADVANCE

sir,is any form required to be submitted to icai for transfer of aticleship with in one year??

sir, i had joined articleship in my hometown and i was doing both graduation(b.com in my hometown only) and cma course.can i include both courses in 112 form or only one course permission is available??

Hello,

through Lease Deed:

If a director lease land to pvt ltd company for use of business for 25 years at token rent of rs. 1 and in consideration pvt ltd company pays one time Refundable deposit of say Rs. 5 crore to director against land value of say rs. 20 crore.

1) Is it liable to Capital Gain Tax?
2) Is Director required to show rent income at market rate in his tax return and not rs. 1?