If anyone knows any CA FIRM WHICH IS more than 5 or 10 YEARS OLD and IS READY TO SELL . KINDLY CONTACT on cavineetsriv@gmail.com . IT WILL BE GREAT HELP . THANKS.
CA.Vineet Srivastava
Vineet Srivastava & Company
Chartered Accountants
Lucknow

Sole proprietary concern is having losses for f y 19-20

Can we not claim depreciation on assets so that loss will be lesser to that extent

Is it allowed under income tax act ?

श्री मान जी , एक रजिस्ट्रड फर्म जिसमे वर्तमान में 4 पार्टनर है तथा वे अपना पूरा बिज़नेस किसी 2 अन्य लोगों को ट्रांसफर कर रहे है जिसमे फैक्ट्री की लैंड एंड बिल्डिंग भी शामिल है।
तो क्या फर्म का रिकंस्टीटूशन होगा जिसमे 4 पार्टनर रिटायर होकर 2 नए पार्टनर शामिल किये जाये या फिर फर्म ही नई बनेगी।
इसमें क्या प्रोसेस होगी व इन्कमटैक्स इम्लिकेशन कैसे होगा

Party A (mother) and Party B (daughter) are co-owners of Property No 1 (residential house).
Party A also owns another Property 2 ( Flat). They have decided to sell Property 1 to a builder for for a total sum consideration of Rs 2 crs which is to be bifurcated as Rs 1.4 crs in cash and 2 new flats (Property 3 to Party A and Property 4 to Party B) to be constructed on the same Property 1 by the builder (each new flat is expected to be of approx value of Rs 30 lacs). So Party A and Party B will receive 1 flat each and Rs 70 lacs each.

Party A and Party B also now wishes to invest the above money received into buying another new residential flat Property 5 for a total investment of Rs. 1 cr.

Property 5 will be used by Party B as her residence.
Property 3 and 4 will be used to store old furniture from Property 1 and occasional visits by both the parties. But these will not to be rented out.

Query:
1. Post the above investments made into the new property 5 both Party A and Party B will be left with Cash of Rs 20 lacs each in hand - so how much is LTCG for each party considering value of Property No. 1 was originally Rs 60,000 in 1962 and later valued at Rs 40 lacs in 2001.

2. Party A already was owning a residential Flat (Property 2) at the time of Sale of Property 1. Through sale of Property 1 and re-investments she has become sole owner of Property 3 and co-owner of Property 5 jointly with her daughter. Since section 54 allows investment of consideration in upto 2 residential properties and now she will be sole owner of Property 2 and Property 3 and co-owner of Property 5, what is her LTCG and applicable taxes. Would want to understand if we need to consider either of Property 3 or Property 5 as as a LTCG and not as reinvestment since she is already owning 1 residential property beforehand.

Dear Sir/madam,

I have taken loan from MAGMA HOUSING FINANCE in my Company's name. Every month EMI is deducting from my company's account. My question is whether tds applicable for Interest?

Dear Expert
1)Assesee Late. Mrs X (LIC agent)die in Fy 18-19,return for that year is filed by her husband as legal hair.
2) in Fy 19-20 she earned commission of Rs 8lac in her daugher bank account as daugher is nominee but TDS is deducted under her husband Pan
3)now who is responsible to show the income of Rs 8 lac of late Mrs X :- husband or daughter
4)Husband is already in 30% slab and daughter is below exemption limt

So a person has left job in 2015-16 but did not transfer or withdraw EPF balance till 2019-20. Since EPF contribution was not done for continuous 5 years and withdrawn it has become taxable.
After checking all the provisions, the conclusion was that all the parts of the EPF balance were taxable.

From what I have read,
Employer's contribution + Interest on Employer's contribution + Employee's contribution will be taxed under Salaries and Interest on Employee's contribution will be taxed under Other Sources.

The query is,

(1) If to be shown under Salaries should we disclose it under 17(1) or 17(3)?

(2) Also point no. 2c under Other Sources has an option for Accumulated balance of recognized provident fund taxable u/s 111. Details regarding Assessment Year, Income benefit & Tax benefit are asked. Can someone guide me on how to fill these.

Is it compulsory to file TDS return first for registration in TRACES? As i have shown following error while registration


You can NOT register on TRACES at present due to one of the reasons

i. You have not filed any statement for the mentioned TAN OR
ii. All the statements filed for Financial Year 2009-10 and onwards are in cancelled state OR
iii. All the statements filed for Financial Year 2009-10 and onwards are NIL Statements (having ALL challans with amount=0)


You will be redirected to E-Filing website from here for E-Filing registration.

SIR
I am doing a trading business and want to change the registered address of business. Can I shift the business to the new address before the change of registered address?

thanks in adv
guide me plz

There is any applicability TCS on sale of scrap of Wood