Anonymous
18 August 2013 at 21:10

How to distribute profit

Dear sir,
i am doing a govt contract and the work order is under my personal name. Now, although the work order is under my name, we are 3 persons executing the work. Now the profit also has to be shared between all four of us. So how do I distribute the profit. Say our work order amount is Rs. 8 lac, expense Rs. 4 lac. So gross profit out of the work is Rs. 4 lac. I already come under 30 % tax bracket.
My questions are
1. Now how do I distribute remaining 4 lac between four of us.
2. Do I need to take out my 30 percent tax amount before distribution. Or what will be the exact distributed amount amongst 4 of us.
3. Do I need to consider the distributed Rs. 3 lac ( given to other three guys) under expenses.


RIMA PATIL
18 August 2013 at 20:56

Cs internship

i have completed 3.5 years of CA articleship and will appear for CS finals in dec13.Is there any exemption for the CS internship based on the CA articleship?



Anonymous
18 August 2013 at 20:54

Capital gains

Amount wrongly transferred to capital gains accounts scheme with nationalized bank. How it can be withdrawn.



Anonymous
18 August 2013 at 20:50

M.com and cs

I am doing Articleship now. I would like to join M.com and CS. Is it possible to join these both courses while doing Aricleship
Thanks in Advance


mohit
18 August 2013 at 20:44

Reasons for failing in ipcc

Why do most of the students fail in professional exams even after having good conceptual knowledge?


shweta
18 August 2013 at 20:44

Urgent query regarding cs

i m a CA student and i am also attempting CS in december 2013.i really need to know that when and how should i apply for exemption from 72 hours of IT training??? please reply as soon as possible.



Anonymous
18 August 2013 at 20:41

Taxability of local councillors

I want to ask whether salary received by local councillors, MLA's is taxable under which head. And also what if such person is having income from other business also.



Anonymous
18 August 2013 at 20:34

Interest on refund calculation

Hello,

Can any one explain me how to calculate interest on refund given by income tax department ?




Anonymous
18 August 2013 at 20:25

Salary to partner and

Dear Sir,
in case of a partnership firm where HUF is a partner and from that firm if salary, interest, rent is paid to co - parceners of HUF in there Individual capacity, what relation should be shown in form 3 CD under Section 40A(2b)



Anonymous
18 August 2013 at 20:13

Form 10e

A salaried employee filed his I.T. Return in Form ITR1 for the assessment year 2013-14 on 31/07/2013 electronically. He got arrears from Jan 2006 to June 2013. But he did not claim relief U/s 89 in his original return. Now he wants to claim relief U/s 89 for the assessment year 2013-14. Now what is the procedure to claim relief? Would he submit Form 10E electronically with revised return in the web site of www.incometaxindiaefiling.gov.in? Or after preparation of Form 10E he would submit Form 10E to his employer for the A.Y.-2013-14 for claiming relief U/s 89? Please inform me as early as possible.






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