CA PARAS BAFNA's Expert Profile

Queries Replied : 9397

I am a practising CA from Surat

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Favourite field of activity is Income-tax .

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CMA Abhay Kumar Sinha says : HUF BALANCE SHEET
Sir, One of my client is having ancestral gold worth Rs. 25,20,000/- and we have created a HUF and now I have to file its First Year Return for FY 2014-15. My hesitation is that how I should show this amount in Balance Sheet,Simply by Showing the Jewellery in asset side and capital in the Liability side with some addition of income in capital account. Please Sir,Help me because I have to file return for FY 2014-15... Thanks in advance, CMA Abhay Sinha 9926321606

Priyanka says : CA final second Group or both?
hello sir, as you know only 2 months left for exams, i need some guidance. My status is - in first group i have done only FR and 30% SFM and second group i have completed 3 months back, but i need to revise it again. So sir according to u , i should give only 2nd group or both?

Pravin Prajapati says : vat on expenses made for office renovation
how to entry in tally, vat on expenses made for office renovation example - In office plywood purchase of rs.50000 and vat is 5% that is 2500, and tiles purchase of rs 10000 and vat on tiles is 5% means 500, now wages paid 5000 . explain total renovation entry in tally

Anil Kumar says : Reporting business income in no acc case in itr-4
Respected Paras Bafna Sir, I shall be grateful to you if you kindly respond to my query at the link below: http://www.caclubindia.com/experts/reporting-business-income-under-no-account-case-in-itr-4-2349984.asp Many Thanks! Sincerely, Abhishek

Gaurang says : TDS ON SALE OF PROPERTY
I am buying flat jointly.Cost 75 Lacs from joint owners.Since there are 2 buyers & 2 sellers I came to know both buyers has to deduct TDS from each sellers & accordingly 4 Challans has to be filled As per agreement I am about to pay Rs.14.25Lacs 1st Inst. after deducting 75K TDS ( 1% of 75Lacs) before registering agreement & Bal.Amt after 45 Days of registration.with proof TDS Challan How 4 Challans is to be filled in