Aditya Maheshwari's Expert Profile

Queries Replied : 9425

I am a Chartered Accountant in practice in Mumbai in the field of Direct Taxation, Audit, Company Law Matters and LLPs.

My motto in life is "Prepare for the worst and expect the best"

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CA Aditya Maheshwari

B. Com., A. C. A., DISA (ICAI)

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Rajesh says : Very urgent Sir...Cap. Gain for Foreign National..
Dear Experts, Very very urgent sir.. The director of a private company wants to transfer all the shares held in that company. The company also provided bonus shares, including the bonus shares has to be transferred. All the shares are to be bought by 2 person who are resident indians. How i have to calculate Capital Gains in this case. Suppose if 100 shares originally bought, for that 600 shares has been issued later date. this total 700 shares are to be obtained by 2 person at 300 + 400 shares. Should i have to calculate separately for this 300 shares and 400 shares separately? If yes then w.r.t to the cost of acquistion can i deduct on 300 shares alone for computing Cap. Gains. For the balance 400 shares can i take the cost of acquisition as zero and proceed. Please provide me the tax rate for which we have to deduct TDS. What is the certificate the Chartered Accountant has to certify. thanking you. With regards, Rajesh.

Ratan Sharma says : 154
Audit completed u/s. 143(3). AO propose to rectify u/s. 154 on the basis of internal audit objection. Whether possible? Are there any judgements?

pranav teja says : it act u/s 142
sir with wat time can AO serve notice u/s 142 on assessee

CA SONI KRUNAL says : INcome Tax LIC
Dear Sir / Colleagues, Here I am facing problem in resolving the below mentioned matter. One of our client have not paid his LIC premium for last 3 years which was below the standard limit of 20% for individual year and now he is willing to start the policy again in order to take benefit of provision of section 80C, but the question arises whether the premium for last 3 years will be allowed as deduction or not because all together premium exceeds the limit of 20%. Members, Please comment upon the Topic. Regards, Krunal Soni