There was the property of land owned by my grand father(HIG Flat)who died,then there were his 4 legal hires including my father who also died and we are his 4 legal hires including a daughter (my sister) who is married (apart from my mother).we all(including we 4 after our father's death & the other 2 hires of grandfather) transfered our property rights in favour of our aunt so that she can sell our property after conversion into freehold.After selling she says that if we need to buy our house from that money we need to make her co-owner otherwise we will have to pay the tax of 20% on that money(incase she is not the co-owner).pls guide us what to do?we need a urgent help!Incase we don't want to pay 20% tax on our own money & buy a house from that money, is it necessary to make my aunt co-owner if we don't wish to, as she is unmarried?plsssssssssssss help!!

Dear Sir

Suppose we have purchased 5 Machinery @ 2 Lakhs each from 5 suppliers. Out of 5 one supplier never comes to collect his money.
In this regards, amount will be credited to which a/c. Written off or reduce from Machiney

If reduce from Machinery, the actual cost of Machiney is 10 Lakh, we shows 8 Lakh after reducing of Rs. 2 Lakhs.

Pl advise.

Sir,
A partner's car is used by a firm, & he is paid some amount on A/c of rent for car(Car is used for firm's work only), the AO has disallowed the said Exp. stating that the payment is in nature of contract with the partner & the firm has not dedcuted Tax while making such payments U/S 194C.(Though no such contract exist there in)
Is the AO's action justified??
Can i get ref. to some case in this regards.

Hi,

I just wanna know that in Form 26AS

What is the Meaning of "Status of Booking (P/F/U) @ "

Thanks & Regards

Praveen

We are a manufacturer of particle boards and are currently enjoying excise exemption under a notification but still we are regularly filing excise return ER-1. But while filing some returns we have not considered sales return quantities as well as stock transferred to our other unit. So my query is can we file a revised ER-1 for that particular months and if yes what could be the consequences. We have not evaded any duty as such because our product is exempted.

Thanks in advance

what is the quorum for a class meeting of preference shareholders?

Is it "5 members present in person or proxy" or even a single member having proxies of all the shareholders constitute a qourum?

What if there is only one member holding all the shares?

Suppose a company is working as C&F for a multinational company whose upcountry transportation needs are reimbursed paid by the company. The bill raised by the tranposrter is on the name of the company and not on the C&F name. Then who is liable to deduct the tax.

Dear Sir

I would like to what will be the consequence in case of short deduction of Tax.
For e.g. On Expenditure of Rs.100 TDS should have been deducted @10% and accordingly TDS amount will come to Rs.10 but in our case we have deducted TDS of only Rs.5
I would like to know whether the whole amount will be disallowed or only part of the amount on which TDS is not deducted.

If we consider the above example the amount on which TDS is not deducted is Rs.50. What will be the disallowance amount Rs.100 or Rs.50

Kindly solve this issue.

I am posting this querry and hope that i will get some concrete answers for it.

On this very forum i have heared some students getting apprehensive about the future of profession with a spurt in the number of students taking up CA as a profession. Every one out there is more worried about the quality of professionals being made from ICAI's portals.

I am posting this querry on behalf of such students and members.

This should not be taken as our anti competitive spirit.

Sir I want to Know That Accourding To ICAI New Rule What is Condition for Termination from Articalship.