One of my Client is a Partnership Firm with the nature of business as :

"Aquiring, Purchasing, Building, Constructing, Erecting, Maintaining, Letting Out, Leasing, Renting, Selling, Conveying and similar thereof Flats, HOuses, Buildings, Townships, Commercial Complexes, Malls, Multiplexes, Shops, Godowns, Building material suppliers &/or such other business or businesses ...".

In this case my client has purchased only one shop in F.Y. 2010-11. The client has rented this property in F.Y. 2012-13. This is the only income of the client. The partners have introduced certain capital to acquire this shop.

It is provided in PF Deed to allow interest on Partner's Capital not exceeding @12% p.a. Also it is provided to pay remuneration as per IT Act, 1961 in PSR (1:1).

Now, the rental income should be treated as income from house property or income from business or profession considering the above facts.

If it is treated as income from house property then what about claiming expenses of interest on partners' capital & remuneration to working partners. Also what will be the treatment of nature of asset (Long term or Short term Capital Asset or Stock-in-trade) considering the above facts.

If it is treated as income from business or profession then what will be the treatment of nature of asset (Long term or Short term Capital Asset or Stock-in-trade) considering the above facts.

Please solve this issue with supporting case laws.

Can ABC & Co. of Delhi make local sales against FORM H to exporter(XYZ & Co.) of Delhi?
If yes then how will seller(ABC & Co.)fill the sale figure in annexure 2A &
How will XYZ & Co. fill purchase figure in annexure 2A. PLZ TREAT IT URGENT.

Hello,

I received an intimation from CPC stating that I need to pay Rs 9500 as tax payable for AY 2009-10. I got the U/S 143(1) form in which the "Income from salary computed under section 143(1")is mismatched from the "As provided by tax payer in return" by almost 50000 and deduction under chapter V1A are also mismatching. I called up CPC they told to file a rectification request. I dont have any income other than salary. Also the form 26AS for 2009 also shows that the deductor(Wipro) has payed Re 6500 as tax.

Now how should I proceed with this?.
What option should I select for rectification request type

Any help would be greatly appreciated

Regards,
Sree

On 11/07/2005 my assessee and his wife and his father purchased a vacant site of 25 cents out of 2Acres.34 cents in rural area for Amount of Rs.4,05,100/- thereon my assessee showed his 1/3rd share is at Rs.1,35,033/- for 8.3.cents of vacant site in his personal filing and his wife shows his 1/3rd share is at Rs.1,35,033/- for 8.3.cents of vacant site in his personal return of income and balance 1/3rd share kept in his fathers name since he is not the income tax assessee. Now in this 2013 year my assessee along with two members sold 25 cents of land, my question is how to calculate the capital gain.

Dear Sir,

I have completed my articleship on 13-06-2013, I have sent FORM 108 (article Completion)via speed post . I have 60days of excess leave to be served. now am serving excess leave period under the same principal without breaking working days (continuously). So now am filing FORM 107 for serving excess leave period.

My doubt

* What are all the documents should be attached while sending Form 107?

* After filing FORM 107 and after completing supplementary article ship period, Do i need to submit separate(other than actual completion) FORM 108 for the period of excess leave served?

Thanks in Advance

How will I Know the detail of Directorship of a director

Hello,

To get Admin Manager job how to prepare for interview means "interviewer focused on which type questions"
Help me to how to prepare for interview.

I have few query mentioned below

Excel sheet attached for ready reference -



1 / - HRA Calculation -

If Basic Salary is 300570 (annually) (Apr to Jun - 24350/month and Jul to Mar - 25280/month)

HRA Paid for FY 2012-13 is 134694 (annually)

Rent Paid is 180000 (annually)



What will be my exemption for tax u/s 10 from Salary ?



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2 / - Do Arrears HRA also needs to be clubbed in current HRA

Current HRA - 134694 and Arrear - 8433



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3 / - I am also getting rebate of interest paid on house loan i.e. 150000/- (Max Limit)

Is there any limit on HRA if availaing this ?



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4 / - In my form 16 it is showing incorrect amount, how do I get this rectified and what documents do, I have to provide if I am doing e-filling online ?



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Rgds

a company incorporated on 30/05/2012 and appoint the first auditor on 16/06/2012 for period from 30/05/2012 to 31/03/2013, now company wants to remove the auditor which they appointed and in his place new auditor should appointed at present for the same period (i.e from 30/05/2012 to 31/03/2013). is it possible, and if possible then what is the procedure.

I am trying ITR2 but it was showing "Compile error hidden module :Sheet 1" i will b happy if any one help me on the same.
i m busy excel 2007