Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Abhishek says : Taxation of gift
Dear Sir, I have a query related to direct taxation for the resolution of which i need your help. The facts of the case is as follows: The assessee has won a Car through a sales promotion scheme, it is to be noted that the assessee has not paid any additional amount for the participation in the scheme except from the price of the product. Kindly let me know, will there be a tax implication in the above case. Kindly consider the ruling given in the following two cases: a)In Sampanna Kuries (P.) Ltd. v. ITO [2004] 141 Taxman 615 (Ker.) b) In ITO v. Malayala Manorama Co. Ltd. [2005] 94 ITD 195 (Cochin) Thanks and Regards Abhishek Agrawal

Anoop Kumar says : service tax code for panalty
Respected sir plz tell me what will be the penalty account head codes for payment of penalty for late filing of service tax return

ANKIT GARG says : partnership firm
we saled of our partnership (pattedaare)in cinema hall, i want to ask about the taxes on the amount which we got after selling.? we were partners in cinema hall (business)and building, since 1950 and since then we were giving rent of the land to the owner on which cinema hall is built. we saled our partnership(pattedaare) to some third person not to anyother partner cinema hall closes in jan 2011 and we selled it of in july 2011. just wanna know about the taxes on the selled amount which we got.

prakash says : sec. 45(4)
hi expert I want to know the scope of Sec. 45(4)in case of firm. (1) what is the meaning of the term used in the above section- "distribution of capital assets on the dissolution or otherwise". does it mean distribution to (i)partner only or (ii) anyone ( e.g. creditor for settlement of their debt.) by the way, as per ICAI modules, it includes the case of business acquired by the company on dissolutin of firm, except the cases where condtions of sc.47(xiii) is satisfied. (2) what does "on dissoltion or otherwise" mean? does it mean that - sec. 45(4) attract even in case of transfering asset by a firm , while it is in operation (i.e. not in the process of dissolution)

Suni. says : Articleship
Sir, I hav cleared the first group of IPCC exam. Please tell me which forms i have to fill and the time limit of filling such forms.