dear sir,
i have ca ipcc 1st group and waiting for ipcc 2nd group.
can i register for ca final ?

Dear All ,

our bank have debited the bank charges Rs. 25,00,000 Dated 31-3-2012. but we have not considered for the filling the return A.Y. 12-13.
Till date we have found the transaction .

can i claim the 25 lac in current year ( 12-13 ) A.Y. (13-14 )expenses in the books of company.

pls advise for income tax point and as per company act point.

AND I AM NOT WANT TO FILLED REVISED RETURN

Dear Sir,
1)please tell me why excise duty is to be paid by Manufacturer?

2) Why excise is indirect tax?

Chandrashekhar S Kulkarni
+919730621426

Dear All,

A Housing Society has fixed deposits of Rs. 35 Lac with nationalized bank & earned interest of 3.5 Lac during 2012-13. The bank has deducted tds @ 10%.

Now can we claim refund of this amount.

As per my understanding society is taxable @ 30% above Rs. 20,000 so we have to pay self assessment tax.

If we maintain the Fixed Deposit with Cooperative Banks then whether interest will be deductible u/s 80P.

Please Help
Amit

my salary

Basic Rs. 23333
HRA Rs. 14467
Convyance Rs. 800
Special Allowance Rs. 17483

Total Salary Rs. 56083/-
Also Gets Medical Allow Rs. 1250 Per month
LTA Rs. 12000 per Annum
Investment:
LIC 78000
INTEREST ON EMI rS. 150000
MEDICAL ALLOWANCE BILL SUBMITTED 15000


mail id : rajesh.gupta@glaxiacookery.com

PL. LET ME KNOW HIS TOTAL INCOME TAX FOR YEAR 2011-12 FINANCIAL YEAR

THANKS

Intra Day Trading in Shares without delivery is Speculative Income or Loss, however I have only 5 intra day transactions and the number of transaction in shares are not too high. So can this Income from intra day trading be considered as Income from other sources rather than Speculative Business Income under the head Profit and Gains from Business and Profession. Accordingly no need to file ITR 4

Query:
Suppose the assessee “XYZ Company” has incurred expenses towards its Head Office. The assesse has paid the certain Sum of Money to the supplier i.e. Mr. A for work done by him. However the Company has paid advance to Mr. A for the work, But due to dispute between the parties work has not completed and Mr. A has not given bills as supporting for the amount of work done by him. The above advance given to the parties are shown under CWIP. Now how the said expenses will be disposed off?
There are 2 possibilities for the same either charge to P& L or to Capitalized the same by transferring to fixed assets.
• Whether company can transfer the same to fixed assets? If company transfers to FA, we can claim depreciation. But we do not have any bills of the same to produce before department in case of Scrutiny.
• Whether company can transfer to Profit & Loss account? If company transfers to P/L, then there is a huge amount of expense which will be charged to P/L account again the same problem will arise in case of Scrutiny since the assessee doesn’t have supporting bills for the said Expenditure .


Regards,
Pooja Gogri

Dear Sir / Madam,
We are paying office rent 14000.00 per month
& 11000.00 for building maintenance charges to office landlord.
kindly advise for tds is applicable on maintenance or not .

Thanking you
Sanjeev Sharma

An individual has a block of assets whose written down value is Rs. 25 lacs. From the block of Assets 1 asset is sold for Rs 5 lacs whose written down value is 2 lacs. The block of asset is existing at the end of the financial year.

Opening WDV 25
Less : Sale consideration 5
20

Under IT act NO capital gain will arise as block of asset is existind at the end of the FY.
The question is how to show the profit of Rs 3 lacs (5lacs – 2 lacs) while filling ITR 4.

If Shares are purchased and sold on the same day then it is Speculative Income or Loss.

However if shares are sold on the next day, then whether it is Speculative Income/Loss or Capital Gains since delivery is generally received in T +2 number of days and as per Section 43(5), transactions without delivery are speculative.

So if shares are purchased today and sold tomorrow, it will be without delivery and at the same time it is not intra day or day trading, so whether it will be speculative business income or Capital Gains