I should appear for may 2015 final examination. When it is advisable for me to take t.n.manoharan tax reference book?

Facts of the case:::

Husband gifts private limited company's share to his wife in which he is a director.

Wife sells the shares at Rs. 60 lacs. Wife in in 30% tax bracket.

Rs. 50 Lacs is invested in capital gains bonds.

Queries::

1. Is the income - capital gains on sale of unlisted shares - liable for clubbing?

2. If yes, is the gross income rs. 60 lacs or net income rs. 10 lacs liable for clubbing?

3. the capital gains bonds should be invested in whose name? Wife or husband?

4. Alternatively, the shares can be transferred to his mother who is in 20% tax bracket. Is it more benficial than above?

My attempt is due on may2016. I want to start self preparation. Is it advisable for me to study Direct tax, Law and audit? I can understand these subjects without coaching.

I have a Pvt. Ltd. Co. I Bought machinery for manufacturing by raise a loan a/c. But production will start from next year. Please show me the treatment of finance charges for 1st year, according to "Accounting standard". Which Accounting standard will apply? Treatment for capitalization of finance charges.

Hi

I am trading in shares short & long term both.
for 2013-14 my total turnover was around Rs. 2 crore.
but profit & loss a/c shows loss of Rs. 40000/-

whether my books of accounts are required to be audited???

Hello Everyone,

Their is one case,one person has sold his house property for 21 lacs in 2013.
He has purchased that property in 1999 for Rs.250000 lac.
He have done some renovation work in the house for Rs.75000.
While selling the house he had paid some below expenses.
Brokerage charges Rs.42000
Society charges Rs.10000.
He has not purchased any property till date Will he be liable to pay any property tax.
If so, how can we calculate on the above basis.

Regards,
Chirag

dear sir
plz guide me my self mr bharat dorik from ankleshwar want to start my gruh udyog from my house for papad making and potato chip any registration is req. or not and the incom genrate from this business will be taxable in my wife name

I am direct entry scheme student for CA-IPCC and my articleship starts from 13th march 2014 and can i fill the exam form for nov 2014..?

Hello Everyone,

Rs.10000 was paid to employee for the purchase and he had purchased of RS.8000 only.He had returned the 2000 to the cashier.
what would be the accounting entry in this case.


Regards,
Chirag

I need to know the authentic method to generate cash in hand in previous date..kindly suggest