Hi Experts,

Can anyone throw a pertinent view on the below statement given by a consultant who is claiming sometime derivative transaction can also be treated as capital gains/losses. below is what he says;

"Generally, gains / losses arising on derivative transactions are considered under the head ‘Income from Business and Profession’. Certain tests like scale of activity i.e., number of transactions, intention, objects clause, etc. would also help in determining the head under which such income is assessable.

However, based on certain judicial precedents, a view could be taken that where the derivative transaction is undertaken by an assessee to hedge the risk (against some investments), then, gains / losses made on the derivative transaction could be assessed as ‘Capital Gains’ on the premise that gain / loss on sale of investments is also assessed as ‘Capital Gains’.”


But I believe hedging it self proves such transactions are speculative in nature!! How much realistic is this?

Hi, An XYZ Pvt Ltd has 3 directors. The company is selling 30% of their shares to another person Mr.ABC with equal share from each director(10% each). Share value is identified and agreed on both the sides. The understanding between the company and the intended new director is that the price identified is for buying stake in the company and any further investments will be shared among the directors (all 4 of them) according to their stake ratio. Now, once Mr.ABC pays the agreed price for stake in the company and all legal procedures are followed, can the existing directors of XYZ Pvt. Ltd. can take out their respective 10% stake value received from Mr.ABC. Please let me know.

Thanks in advance. Thanks

Hi,

I am Icwai inter candidate working for Manufacturing company( writing my final exam in December 13, i got a offer in MNC for account receivable profile, kindly suggest, should I accept this offer or I should look for opportunities in costing, kindly help.

Transport charges for moving the containers from one place to another place are charged the bill with out service tax.Whether service tax to be deducted on transport charges under reverse charge mechanishm.The person who received the services is dealing cargo handling.

Transport charges for moving the containers from one place to another place are charged the bill with out service tax.Whether service tax to be deducted on transport charges under reverse charge mechanishm.The person who received the services is dealing cargo handling.

Dear Sir

I am a working women and my monthly salary income is given below. Kindly inform us the actual tax i have to pay.

Basic - 15300
HRA - 6120
Medical All- 1250
Conveyance - 800
Other Exp -19030

Total - 42500

I am paying rent of Rs.6000-00 per month. Kindly do the needful.

Regards
Lakshmi

Dear Sir,

While solving a sum on income from salary,
in the question it is given that the employer is bank of Baroda.
hence, i have a doubt regarding commuted pension received by the employee.
whether entire pension would be exempt or only half will be exempt assuming that he is not covered by the Payment of Gratuity Act???????????

What is the exact formula of Net Worth ?

Whether Capital Work in Process is deducted or not from Eq+ Reserves?

basic pay march 12 is 11690and d.a is 8984
april to november is 13020 each month and da is 10104.
dec, jan, feb is 11690. and da is 11153 each month.

hra mach 12 is 3098
april to november is 3484
dec to feb is 3098

arear of da is 15932
arear of basic pay is 37737

how i calculate hra
please reply soon

Dear sir/ma'am
Please state me what are the important issues for statutory audit.