what are the different types of ACT s applicable to schools in india

Whether interest credited on loan account but not paid is to be taken as a loan acceptance and it should be disclosed in 3cd under clause 24(a)section 269ss?

Dear All,

I am Sagar Mahesh Shah pursuing CS Executive and want to apply for CA course.

Please suggest me about the admission process.

Dear All,

As per recent CBDT notification, it is mandatory to e-file Wealth Tax Returns for Individuals and HUF covered u/s 44AB. But is it compulsory to file Wealth Tax Return, if these individuals and HUF do not net wealth exceeding the maximum exemption limit?

Regards,

Dhruv Gaglani

LTCG on mutual fund sale by NRi is taxable or not?

Dear Experts,
I want the expert advice of you on following;
One LLP is formed with three partners two of them are CA and third partner is other than CA
Now question is that, can LLP take audit (any audit) in its name i.e in the name of LLP.
Audit report will be signed by CA Partner.
Thanks n Regards

KINDLY INFORM ME THAT I M PROVIDING BUSINESS AUXILIARY SERVICE AND IS DOING A LABOUR WORK THE TOTAL ANUAL BILL GOES TO AROUND 10 LAKH & IS FILLING RETURN UNDER SECTION 44AD SHOWING 8% INCOME . ALSO HAVING SERVICE TAX NO. FURTHUR TO THIS I HAVE RECEIVED RS.8,00,000/- FROM SALE OF MY FATHER JOINT FAMILY LAND IN CASH. WHETHER THIS AMOUNT WILL BE TAXABLE TO ME IF I PUT THE SAME IN FD OR DEPOSIT THE SAME IN MY BANK ACCOUNT. KINDLY GUIDE ME REGARDING LIABILITY IF COMES TO ME IF ANY IN THIS CASE. KINDLY GUIDE ME REGARDING TAX LIABILITY

Facts of the case:::

Husband gifts private limited company's share to his wife in which he is a director.

Wife sells the shares at Rs. 60 lacs. Wife in in 30% tax bracket.

Rs. 50 Lacs is invested in capital gains bonds.

Queries::

1. Is the income - capital gains on sale of unlisted shares - liable for clubbing?

2. If yes, is the gross income rs. 60 lacs or net income rs. 10 lacs liable for clubbing?

3. the capital gains bonds should be invested in whose name? Wife or husband?

4. Alternatively, the shares can be transferred to his mother who is in 20% tax bracket. Is it more benficial than above?

My attempt is due on may2016. I want to start self preparation. Is it advisable for me to study Direct tax, Law and audit? I can understand these subjects without coaching.

I have a Pvt. Ltd. Co. I Bought machinery for manufacturing by raise a loan a/c. But production will start from next year. Please show me the treatment of finance charges for 1st year, according to "Accounting standard". Which Accounting standard will apply? Treatment for capitalization of finance charges.