Dear Sirs,

I would like to know the procedure for converting a pvt ltd co into partneship with the same shareholding pattern.

There are accumulated reserves in the company which has to be transferred to the shareholders who would be the ultimate partners of the new firm. Is there any way out to avoid Dividend Distribution Tax , as the money is still going to remain in the business.

And further will the transfer of the assets attract capital gains ?

Sir,
I have a brought forward business loss for the Previous Years 2003-04 and 2004-05 totalling Rs.2.82 Lakhs and the returns for both those years were filed within the due dates of filing of returns u/s 139
But for the Previousyear 2005-06 I have not yet filed my retruns and I have a taxable business income of Rs.1.8 Lakhs.

1.Can I set off Rs.1.8 Lakhs income(P.Y.2005-06) against the brought forward loss Rs.2.82 Lakhs (earlier years duly filed)?
2.Can I carry forward(though I have not filed 2005-06 returns till date and file the returns now) the business loss of Rs.1.02 Lakhs (2.82-1.8) as the loss pertains to earlier year losses duly brought forward till 2004-05.
3.I am of the opinion that Section 80 does not restrict the carry forward of earlier year losses and also does not restrict the set off of previous brought forward losses though returns are not filed in due date for current P.Y.
Please help me

If employee incur some expenses for tea & snacks, out of office (not on food like lunch or dinner)

The nature of expenses incurred on tea & snacks are staff welfare, but I want to know, whether this amount is also applicable for FBT or not ? especially talking about the tea & snacks not about the food.

Please tell me in brief that what type of expenses related to staff welfare are covered under FBT ?

Why money is appreciating against doller so fast. what are the factors contributing to it. What are the other factors that can contribute to money appreciation. is it good for economy. what are measures to stablise money

Why money is appreciating against doller so fast. what are the factors contributing to it. What are the other factors that can contribute to money appreciation. is it good for economy. what are measures to stablise money

Q. What are the procedure and requirement to get the license for EPCG ?

In case a servive provider crosses the exemption limit provided to small scale providers for the first time. He has to pay tax only on that amount which exceeds Rs. 800000.But if in the next F.Y his gross receipts fall down the said exemption limit then what will be the taxability of the services provided by him.

Whether interest payable on loan taken from banks for construction of a house on the land owned by wife, can be claimed as deduction under section 24 of I.T.Act by the husband in his personal return? Is it necessary that the land must be owned to claim deduction of interest payable on loan taken for construction of house?

I have just passed out of CPT held in August 07. I am also a student of FYBCOM

I would like to know the Articleship Option available from Thane/Mulund Area as I am a resident of Thane and have to undergo coaching for CA Inter.

Kindly help me out so that I can approach the CAs in Thane for my articleship.

With regards

Girish Venkatesan
D3/701, Vedant Complex
Vartak Nagar
Thane (West)