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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Astaf Mansuri says : 44 AD
Dear sir, first of all i would like to thank you for your honest effort towards the case laws of DT/IDT for may 11. its really very much essential for the exam for me. sir, i have 2 query one, partnership firm having turnover of Rs.14 lakhs, and net loss of Rs.94000. whether it require to fall under 44AD? further if we add back partners capital interest & salary in that loss than resultant profit is Rs. 1450 in this case 44AD is applicable. i haven't find this kind of example in any book. second, if proprietor fall under 44AD and get his accounts audited then which return is required to file ITR-4 or ITR 4S ? please help me for the above quires . thank you Astaf Mansuri

faisal pari says : Accumulated
Sir, please send me Accumulated Deprication Head In Tally, This is my mail id fslpari@gmail.com

CS,CA F,Numrologi TusharSampat says : income tax querry on ur ans
Thnk u sir for your valuable reply! bt in case of ur first reply ther is no q of TDS to be deduccted by bks since she has smartly invetsed in suc a manner tht total intrst does not exceed Rs. 10,000/- in any of the fds as she has taken diff fds of diff bks thn on whic basis to be shown becoz since trf took in the yr of 2010-2011 she is getting an exemption limit of Rs. 240,000/- & if i tak it on accrual basis thn intrst crosses rs2,40,000 n she need to pay tax.if i tak it on recpt basis thn it splits in 2 diff FY n gets adv of more slab limit i.e Rs5,00,000 for AY 2012-13. so is theR ny prov/circular/notification whic mention tht for people with INCom frm other sources only must go in for accrual basis n nt recpt basis??? Thnk u sir once again.

yogesh says : tax calculation on sale of ancestral agri. land
dear sir my uncle mr. shayamanand is a PAN Holder & his DOB is 10-08-1935. his income is only agriculture income. but on the F.Y. 2008-09 he sale your ancestral agriculture land and that cash amount deposit in bank account. so the I.T. department issue a notice Under AIR Information. he replied to ITR Department. but the I.T. Department again issue a notice Under section 148 for filing return. please give me guide line that what he do. which ITR he file and what (which head) he show that sale of ancestral agricultural land. what is tax liability on this. regards. with earliy response Y.K. Gupta