Last year there has certain amounts in a account shows debit balance in Balance sheet which was foreing exchange loss and the same has been not claimed in P & L. the annual return has been filed. Now what should the treatment in current year for that Account. what are the ways to resolve the same.

What can be tax planning to manage long term capital gain if any NRI sells his house having cost 60 Lacs (FY 04-05) for Rs.94 lacs in FY 08-09.

The cost of Rs.60 lacs was incurred by father of NRI who has transferred to him by will.

Please send me the judgement given by Supreme Court in CIT V/s India Nippon Chemicals Co. Ltd. (2003 261 ITR 275) or please refer me any site which gives the detailed judgement.

How the gratuity payment made, after 5 years or any event happened like death, disablity,immediate employment, the employee or his/her survior gets benefits from the gratuity act. what is the rules and regulations let me know. it is pvt ltd co. what about the rules for central and state govt employees.
Sreenivas.S.R.

A contractor has made a payment to sub-contractor without deducting tds on payment. Whether he claimed a expenditure or not.

Dear Friends,

Can we make index of ledgers in Tally 9 Package? If possible, pls explain how it is made?

Thanks in advance.

Dear All,

As per Press Note 7 of 2008 issued by the DIPP (available on the DIPP website) the minimum capitalisation of foreign holding requirements for NBFC's are as follows:

1. US$ 0.5 million in case the shareholding percentage is below 51%
2. US$ 5 million in case the shareholding percentage is between 51% & 75% &
3. US$ 20 million in case the shareholding percentage is between 75% & 100%

I want to know whether such minimum capitalisation requirement will also include the premium at which the shares are issued? Or whether 0.5, 5 & 20 millions should make up the total nominal amount of the face value of shares only.

Also please inform as to any Act, Rule, circular or notification or any other document where the definition of minimum capitalisation is given..

Need not necessarily be FDI norms... even SEBI etc may be applicable.

Would really appreciate an answer at the earliest.

Thanks in advance, Regards,

Chandan

Dear Sir,

I am working in properitory firm. they have just started business. they have to pay the commission to the persons & such amount is more than the amount applicable for TDS. Is it necessary to take TAN No.
Shall we apply for tan after cross the limit of 40 lakhs.

Pls.sir send me reply very soon it is very necessary

Dear sir/madam,

I have applied for Tin no. but I have purchased some taxable goods. & paid vat for that goods. my turnover is below 500000/- I have applied under volutarily scheme. shall we take setoff if the vat paid on purchases before the Registration made under vat. Such transactions made within maharashtra.

Hi,
One of My client had taken Housing Loan for Purchase of House Property in Feb 08 which is under construction. For getting the benefit agst tax (from Salary deduction) he had submitted Provisional Certificate from Bank stating total repayment say Rs. 100000/- as Ineterst & Rs.25000/- as Principal payments towards repayment of loan.
Now my question is Whether he can claim full benefit of Rs. 75000/- U/s. 24 & Rs. 25000/- U/s. 80C in FY 08-09? & What about benefits under same heads in FY 09-10 if the amt remains same i.e. Interest & Principal payments in 09-10
Assume same actual payments had been made in both years.