sir, i am a student of pce scheduled to complete my final nov10. i am contemplating to start a firm with my frnds, say ten partners and gradually expand it to all over india. our real aim is to drive out the foreign firms. i wanna know whether is it possible? is it realistic and practically possible? in present scenario whether new CA's can get big company audits? is it trying worthwhile? ... i would be glad if u existing CA's provide ur valuable inputs to me in this aspect

We r having one Joint venture with another party having 50-50% shareholding. We are purchasing the 50% shareholding of that party and terminationg the JV Agreement with mutual consent of both parties.
So tell me wht is the procedure of the above and also send me the formats of the required documents/ resolution if any.

Waiting ur reply.

Thanking you.

Sir
For A Y 2008-09 Mr X having salary income of Rs 600,000 and loss from house property due to interest on self occupied house loan of Rs 50,000 thus net income of 550,000 file form no 1 insteasd of form no 2, since form no 1 does not show the details of loss / income from house property the ITO demanded tax on amount of interest on self occupied house loan of Rs 50,000.

what should be done, should Mr X go for rectification u/s. 154 or file the revised return (the itr was filed on 31.7.2008 i.e. on due date)

pl reply quickly

Regards

I received a intimation notice under section 143 of Income tax with these details.

Income : Rs 739710
Tax Due : Rs 176040
Tax paid by me : Rs 174034

Amount payable : Rs 2006

However, I feel this amount is incorrectly calculated, as out of my income of 739710, Rs 9700 were shown by me as "Capital Gain" to be taxed at 10%, Instead IT department's notices seems to have miscalculated it at 30%

Please let me know if
A) I should move application under section 154.
B) How do I move an application under section 154. My notice just mentions letter sent from Income Tax Officer, Ward - 46(1) New Delhi

Thanks

what are the books to be refered for cafinal new course.

I completed B.com and Inter of ICWAI in the year 1999.Also I completed one year PGDCA.

Am I eligibile for the state of california?
Which evaluation center are the best?
Can I expect a US Bachelors equivalent for my edu..

Needed help urgent!
Thanks and Regards for your resources in adv

Nina

I appeared for PCC in May 2008 and passed the first Group but subsequently appeared for the second Group twice but could not get through.

Now i want to appear in May 2009. Do i have to appear for Both the Groups or only the Second Group..

Please Help And if possible send ur Answers to dbhavik88 @ gmail.com

Thank u!!

what is the limit for tax audit for insurance agents is it if the gross receipts exceed 10 lacs or 40 lacs

sir, i hav heard that there is a new provision that only one unconditional transfer is allowed during the period of articleship?
is it so? what should i do to get transfer?

Query regarding TDS deduction for Employee's Part employment :

ABC Private Limited has engaged B in employment.

B was working from 01.04.08 to 30.09.08 in a company and B had been issued Form 16 for the Tax deducted by the old company.

B (joined w.e.f. 01.10.08) submitted his Form 16 to the present employer.

Based on the Form 16, the present employer deducted the appropriate TDS.

Query :

Whether the present employer should include the salary drawn from the old company and mention in the Form 16 to be issued by the present employer.

If so, how B will fill in the TDS column of the ITR-1. Should B consider the Form 16 of the present employer is final and fill in the TDS column of the ITR-1 only the Form 16 of the present employer (fully ignoring the Form 16 issued by old employer).

How the present employer do the e-TDS filing in respect of TDS of B in the necessary e-TDS forms ?