CMA. CS. Sanjay Gupta's Expert Profile

Queries Replied : 24107

About me

"PROUD TO BE AN INDIAN"

Hi!

I am Sanjay Gupta from "City of Joy - Kolkata". I have completed ICWA, M.Com, CS, DIM and currently pursuing MBA. Presently i am working for Hindustan Aeronautics Limited, Barrackpore Division as a Dy. Manager (Finance). Prior to this, for last 3 years i worked for "West Bengal Industrial Development Corporation Ltd" as Officer On Special Duty and before that for 3.5 years i worked for "Jekay Group of Companies" as Manager (F & A).

I am a part of caclubindia Family to share whatever knowledge i have and also to enhance my own knowledge. We all learn something everyday, because education never ends be it in school, college, institutions or in Journey of Life.

My message to all "Keep Sharing your knowledge to help people. Knowledge increses by sharing and not by preserving"

Thanks for visiting my profile.

CMA. Sanjay Gupta

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Hari says : Need Operation management notes
Hi Can you please provide me costing and operation notes to my mail id : hari.corporate@gmail.com

kajal says :
sir, plzz send me cwa inter 1st stage notes for 6th and 7th paper

Akriti Sharma says : CAT
IS B.COM WILL MANDATORY FOR PURSUING FOR CAT/MAT/XAT? PLEASE SUGGEST ME SIR

HIMANSHU says : Notional Rent
We are a registered Partnership firm carrying on business of real estate development . Couple of years ago we had constructed a residential building in which we have retained 4 residential flats, out of which 3 flats were/are given on leave and license basis. The 4th flat is used by the partners for personal use and is shown vacant in our Balance Sheet. We have shown the flats as Fixed Assets in our Balance Sheet and claiming Depreciation on all the 4 flats. The Income Tax Department is assessing our rental income under the head Income from Business & Profession. We wish to know whether Income Tax Department can calculate notional rent (Annual Value) on the 4th flat which is not given on rent. Kindly advice

HIMANSHU says : Notional Rent
We are a registered Partnership firm carrying on business of real estate development . Couple of years ago we had constructed a residential building in which we have retained 4 residential flats, out of which 3 flats were/are given on leave and license basis. The 4th flat is used by the partners for personal use and is shown vacant in our Balance Sheet. We have shown the flats as Fixed Assets in our Balance Sheet and claiming Depreciation on all the 4 flats. The Income Tax Department is assessing our rental income under the head Income from Business & Profession. We wish to know whether Income Tax Department can calculate notional rent (Annual Value) on the 4th flat which is not given on rent. Kindly advice