Dear sir,

I need to know that can i file my NIL income tax return for F.Y. 2011-12 (A.Y. 2012-13) now? is there any penalty for the same ?
it's my first time for itr filing and i also first applied and my PAN no is alloted.



Regards,
Mahesh

Please solve my problem:
If a person has purchased 5000 units of foreign mutual fund in 2007 @$10 per unit when exchange rate was 1$=Rs45. He has sold these 5000 units in 2013 @$12 per unit when exchange rate is 1$=Rs55. How the capital gain shoud be computed.
Further suggest whether capital gain should be computed considering the difference of exchange rate.(Assuming there is no indexation)
Whether the solution shoud be like this:-
sale 5000*12*55= 3300000
- purchase 5000*10*45= 2250000
Long term capital gain=1050000

or shouid be like this:-
sale 5000*12 =60000
-purchase 5000*10 =50000
Long term capital gain=10000*55
=5500000
Please help..

A SALARIED PERSON HAS TOTAL INCOME OF 8 LACS ?
WHAT WILL BE THE TAX LIABLITY FOR F.Y 2012-2013?
WHAT WILL BE THE TDS FOR EVERY QUARTER?

Dear members,
Can anyone share whether ICAI is charging VAT on books sold to students.
Reason for asking such Question:
We are a private Coaching Center,a Pvt ltd company. Due to different opinion on VAT applicability on Study materials, to be on safer side, we are charging VAT. If we can can find the answer for above question, we can reduce the cost to student by not charging VAT. Please us to help the Student.
Thanks in avance

we are Central Govt. Organisation planning to hire Photocopiers on a cosideration of 50 paise per copy taken without any other rental/leasing/hiring charges. The company which lends the Photocopier is charging VAT extra. Please confirm the applicability of VAT under the present arrangement mentioned above.

If I want to create a HUF and invest Rs. X in it, can I show it as my capital contribution to it as Karta of HUF. Is there any legal procedure for the same and whether any document is to be prepared for such contribution to HUF? Will income attract clubbing provision as amount is invested by me only and nobody else?

Dear sir/mam I have joined CA, CS in 12th standard. Now along with my articleship I am doing three courses i.e. CA, CS and B.com. Now if I show to ICAI that I am pursuing CS also then what consequences will occur. I filed form 112 showing that I am doing B.Com but didn't show that I am also doing CS and same with the CS institute also. Can you please suggest me what should I do now. Please reply as early as possible Thanks in advance

Respected sir/madam,
i have a urban agriculture land which is situated with in the 8km from municipal limit.this property was purchase by my grand father 30 year ago for RS 800 and the current rate of this property is around 1 crore.so i just want to know that if i am going to sale this property today than any taxes are applicable to it or not. if applicable than at what rate .
AND what should i have to do for save taxes on it.
any one who know the answer than please reply .
THANKS IN ADVANCE.

Is the companies bill applicable for CA finals for May 2014 attempt?

We had deducted TDS on rent and professional fees for the month of November 2013. The TDS was paid immediately, but by error, the TAN number was wrongly entered. The error was noticed in the month of January, when we submitted a letter to the Income Tax department for correction of TAN.

When I met the Income Tax department on the 11th of June, I was told that the corrections would take another three to four months.

What I would like to know is :
1. Can we repay the TDS amounts?
2. What will be the interest rate?
3. How will the amount already paid be reconciled during the current financial year?

I request an answer since the professionals need to file their tax returns.