As per sec.50C which amount is to be taken as sale consideration for computing capital gain. Fair market value adopted by stamping authority or the value written on the sale deed which is actually received by the assessee. Is sec 50C is a presumptive provision. please explain.

A company incorporated in August 2016 with authorized & subscribed capital of Rs 1 lakh, but has not yet brought capital in the company. My query- Is it necessary to introduce the capital before a fixed time limit? Please provide relevant rules/section.

Thanks in advance

one of my client had plot of land which was given to a develeoper (builder) for construction of flats and shops. In consideration 40% of flats and shops were given to my client. He is selling flats/shops one by one. My question : whether income on sale of flat would be taxable as business income or capital gains ??

Read more at: https://www.caclubindia.com/forum/land-given-for-development-business-income-or-capital-gains--385434.asp

dear experts,

please advise me how to calculate turnover for audit purpose as per given below details :-
1. how to calculate turnover for audit purpose when we purchase and sale shares on same day i.e. future & option.
2. purchase and sale of shares on different day and STT is paid. holding period below 1 year
3. purchase and sale of shares on different day and STT is paid. holding period above 1 year.

please guide me and advise as per serial number.

thanks regards,

rakesh kumar

we are having professional income showing under head PGBP. but not preparing B/S & P&l A/C 's.How to show it in ITR Form, Please explain

What is the maximum deduction allowed for professional tax paid in Income tax calculation?

One of my friend was working in India from apr 16- Dec 16 , and now moved to Abu dhabi.
He is receiving salary there from Jan 17 to Mar 17
what will be his tax liability for the salary received in abu dhabi ???

Dear Seniors,
Assume if i have done the audit of
ABC Limited as per sec 44AB. One of the vendor of ABC limited is say ABZ trading company however as per vendor statement the DR balance is 70000 whereas as per the audited books of ABC limited the ABZ trading company CR balance is 3680. The management of ABC limited has accept that the vendor statement is correct. Pls clarify :- in such difference weather Income tax deptt. Can object or not.

In my opinion income tax varify the record of income and expenses Hence they may not object for mismatched balance?

Please share yours valuable inputs.

Regds
Subhi Goyal

Dear Experts.

Please advise that If Rate of Excise duty has been made to 'NIL' by way of notification. Is it mandatory

a) to prepare Excise invoice

b) to file excise return.?

Sir

Can I file m5y Income tax return for the F.Y. 2014-15 & F.Y. 2015-16 after 31.03.2017 also.

Kindly reply