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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ramana says : income tax paid for company
Hi, experts i have doubt i am filing 2010-11, 2011-12 returns yesterday, this year i have paid 2,31,000 tax,for both years, how to enter into tally? plz give me u suggestions and plz write journal entries and also head of ledger

Martin says : Surrender Existing PAN Card and then Apply for new
1. Should I surrender Existing PAN Card first and then Apply for new PAN Card OR Should I apply new PAN Card and then surrender the existing one. ---------------------------------------------------------------------------- 2. I have a only one PAN CARD in Gujrat jusdiction and I am in bangalore. I want to get rid of my old pan card and want to get the new one. In case of having only one card, I need to contact to Assessing Officer so should I go to Gujrat again for surrendering again? ---------------------------------------------------------------------------- 3. I do not want to face the AO, So can I apply for new PAN Card in Bangalore and once I recieve the same, based on having two PAN Card, Can I submit the old PAN card to any TIN-FC Centerto surrender? Is there any thing illegal or panelty imposed on such transaction? ---------------------------------------------------------------------------- 4. What could be good reason to mention for surrendering the PAN Card in case of point no. 3. ----------------------------------------------------------------------------

CA Bikram Singh says : TAX ON COMPENSATION
I have a piece of land that belongs to MIDC(MAHARASHTRA INDUSTRIAL DEVELOPEMENT CORPORATION) which i have taken on lease for 90 years. I wanted to construct a petrol pump on the said land for which NOC is aleady given by MIDC. Now a power plant wishes to drag a high tension transmission line right over the land. As a result, i cannot construct Petrol Pump on the said land. However the Power Generating co. has offered me a compensation. I wish to know the Tax implication for the receipt of compensation with refence to the following points. 1. The land is a Lease hold Land and not owned by me. 2. I have not yet started the Petrol Pump, so no business Income from the Land. Kindly suggest under what Head the the compensation will be taxable and the rate of the tax for the same. Also let me know the section.

Balakrishna says : Statutory Audit Check List
Sir, can you send me Statutory Audit Check list. thanks in advance. balagurrapu@gmail.com balakrishna.gurrapu@dtss.in

MANAV says : Sec. 47 of Capital Gains
Can exemption be availed u/s. 47 in respect of Capital Gain if two proprietorship firms are converted in to pvt. ltd. co. and each proprietor will be given 50% voting power (50%+50%=100%) and other conditions are satisfied? And what about stamp duty on immovable properties transferred to pvt. ltd. co. in the above way? Can stamp duty be fully escaped in whole scheme?