One of our client has entered into a sale agreement (without giving possession)to sell a site for Rs.10 lacs and received advance of Rs.2 lacs with a condition that the balance has to be paid at the time of registration and the registration has to be done on or before 2 months from the date of sale agreement. Rs.10 lacs is also the value fixed by the stamp valuation authority on the date of sale agreement. But the valuation authority has increased the rate to Rs.20 lacs by the time of registration and the stamp duty is paid by the buyer on rs.20 lacs. The seller has received the balance Rs.8 lacs at the time of registration.The seller has paid the long term capital gain taking the consideration as Rs.10 lacs. The case is selected for scrutiny. Now the ITO has raised a tax demand taking the sale consideration as Rs.20 lacs as per Section 50C? Is there any way out for the client to argue that the sale consideartion has to be taken as Rs.10 lacs instead of Rs.20 lacs? Are there any case laws on the above subject?

To,


The Board of Studies
ICAI


Sub.: Confirmation of Syllabus


Sir,

I am Vinod Lakhayani (CRO 0 194854) student of PCC and I want to confirm about the syllabus of Cost Management of PCC. Whether the topic “Overhead Variance” is included in syllabus of standard costing.


This topic is included in study material but not included in the syllabus of PCC available Online data.

Please confirm and reply.



Email ID : lakhyani007@gmail.com

please explain Me About Foregone of salary

if It is possible then mail at

sanket_ca_shah@yahoo.com

.

Can u please let me know .. TAX implications on web hosting and domain registration ???

Thanks in advance

Dear Sir,

My client is a licensee of "Depository Participant" as a Sub-broker. For expand the volume of operation, he is willing to convert the Proprietorship in to Partnership firm. But according to SCR Act,1996 and guidelines, only Individual and Company can allow to hold such license.
In such situation, He comes out with following option.
OPTION -1
1. Continue the license as the capacity of Individual
2. Get the Cheque from Broker in his own name and convert the Cheque to Firm's name.
3. Explore the TDS credit from Broker in his name alone.
OPTION-2
1. Continue the license as the capacity of Individual and appoint the other 2 persons as "Technical Managers - Fund" instead of admitting as Partner
2. Offer Salary with Commission on Profit
3. Explore the TDS credit from Broker in his name alone

What is your Suggestion?

Employee is residing in USA. We are paying salary from India. He is incurring local travel expenses there and send us the bill for reimbursement.Can our company have to pay FBT on these expenses which are incurred in USA?

I m in construction industry.we receive advance against booking from customer on booking a space on our Mall.Is there any contravention of Law ,If any party directly deposit booking amount in company`s bank account.we obtain all documents eg PAN card etc.

what is the procedure to change the period of filing return from june to december

Hello Sir/Madam,

Is there any time period to join or complete the articleship after passing
PE-II,because my sister has cleared her PE-II and she got married and presently she is in US and will come back after a year.