An individual is having 3 proprietorship firm. He is maintaining books of accounts for all the firms separately and in his individual name also. My query is which Balance Sheet and PL to be taken into account while filing ITR 3 i.e consolidated BS/PL of firms or his personal BS/PL.

why it is paid ? how much is exempt ?

I have received a notice u/s 148 for escapment of income for the ass.year 2010-11. The notice is dated 31.03.2017. The notice was received 03.04.2017. the date of posting is 01.04.2017 .Is the notice valid ?

venkateshrao

Please help understand the following.

I (daughter) want to gift my mother Rs 5 Lakhs via check or bank transfer. Is cash gift a better option although not my preference?

What tax implication I and my mother may have per this transaction?
What precautions and documentation I and she may need to fulfill any tax obligations if any?

Please help so I can make an informed decision within legal guidelines.

Thanks,
Preeti Ahuja

Dear Sir,

Please suggest me to how to prepare for IPCC exams.

what are the updated books can i buy to give my attempt for nov 17 exams.

my sro no: SRO0555570

Dear Experts,
Can i withdraw the Rs. 3 Lakh cash from firms's OD A/C in single day? If so what will be consequences,

Thanks In Advance
TANVI AGARWAL

How to open income tax file for a new assessee. And how many return may be filed. Earlier we can file only 2 year return .

Dear sir
For LTCG Holding period is reduced from 36 months to 24 months. But in finance bill i read these changes are effective from 1st April 2018 and are effective for the AY 2018-19?. If it is effective from April 2018 the AY has to be 2019-20. Can anyone clarify this

If i sell a property purchased in April 2015 in May 2017.Will it be a LTCG?

Thanks and Regards
Mahesh

CTC 1200000, home loan repayment rebate is still going on, nps scheme would be beneficial for me?

profit for year :
2011- 10lacs
2012- -12 lacs
2013- 15 lacs

for calculating avg net profit of 3 preceding years will we consider -12 lacs. please tell the calculation.