Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Priyanka.S says : Commission Income comes under 44AD
Sir,Whether commission income comes under 44AD

SAPTARSHI DAS says : Interest on capital to be paid to the partners
Sir, Greeting. I have a situation here where my father is a partner to a partnership firm at the ratio of 50%. He and his partner started the firm long back with a min. capital investment of Rs 20,000 each. With the growth of the firm the individual capital has increased to a substantial amount. Now this is increase in capital was not brought through individual investment by the partner. We need to know if they can take interest on the amount in their capital account?

PRIYA KANANI says : DISSOLUTION OF PARTNERSHIP FIRM
Sir When AB & Co. i.e. Partnership firm having 2 Partners i.e. A and B, is dissolved then on the date of dissolution all the assets and liabilities are tranferred to a Mr. A. Then what are the Tax implication in the hand of partnership firm when it has trasferred its depreciable assets, debtors, advances and creditors to Mr. A. and how to compute it. Kindly Resolve my Query as soon as possible

phaniram says : regarding inter head set off
I had taxable income form house property (50000)and capital gain(500000)I also made a payment toward insurance premium which is eligible for 80C deduction(5100).So my doubt is if I have a business loss say 60000 can I set off the entire loss from capital gain first and claim 80C deduction from house property income.

Kaveri Agarwal says : Partly paid up shares in rights isuue can b allot
sir, do you know how to allot partly paid up shares in rights issue to pvt company