In a development agreement between builder & co-op housing society

Where the builder for developing of the building shall use the extra FSI and sell the same after giving each member of the society a flat who carpet area shall be 24% more than the present carpet area.

A sum of Rs. 500,000/- towards enhanced property and municipal taxes for their respective flats and inconvenience and hardship caused

A sum Rs 500,000/- to each member as rent for accommodation during the period of construction of the flat.

What is the liability to Income Tax
1) In case of extra carpet area received .
2) Amount received for future enhanced property ,municipal taxes and inconvenience caused.
3) Amount received as rent for accommodation during the period of construction of the new flat.

Whether TDS is applicable under any provisions for the Telephone charges paid monthly to private operators ?

Can any one give me a advice or standerd format regarding Project Report

How to prepare Project Report ?

Rajendr M

Respected Sir / Madam.

Off late many MNC's are issueing ESOPs for their Indian employees. Such Indian Employees also frequently travel abroad mainly in the IT industry. Assuming that such employee of the Indian Company has been alotted with shares of its parent company in USA (Say after 01-Apr-2007). Now that the employee is travelling to USA wants to sell the shares and wants to bring the sale proceeds to India. We do know that FBT is levied. What are the other legal means of bring back the sale proceeds to India. Can he bring by cash? If So what is the limit of such cash transaction (Taking into account FEMA regulations also). What other documents are required from the Income Tax point of view to pay the differencial tax arising out of Gain on sale of shares?

Dear Reader,

I am doing C.A and also going to pursue for Graduation can u please tell me that should i go for Regular or correspondence.
Also if there is any good future prospects of regular than correspondence,and will the regular graduation affect my CA course.

Iam very confused plz help.

Whether the service receiver can avail the benefit of exemption notification no. 34/2004 effective from 01/01/2005 ?

A person is running a health club & fitness center & provides services related to health & fitness training. What is the criteria u/s 44AB of I.T.Act to attract provisions of Tax Audit? Will his annual receipts will be taken into account or any other criteria? The business is of Partnership concern.

If we pay Rs. 1 Lac for insurance of car, and we book Rs. 50K as expenses pertaining to current financial year & balance amount of Rs.50K we book as prepaid.

In above case, what will be FBT liability i.e. on Rs. 1 Lac or Rs. 50K, which we have booked as expense.

1) If we pay FBT on 30th Aug insteads of 15July, what will be calculations for interest.

2) If we pay FBT on time but pay in part, like payable is Rs.50,000 but we pay only Rs. 40,000/-), in this case interest will be calculated on what basis for balance payment of whole payment ?

Dear Sir,


government of india has just issued a notification regarding service tax refund to exporters..


can any one tell me much about this..


plz let me also know what are the services on which the exporters can claim service tax refund...




can any one tell me the procedure and the form for service tax return.