Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Rabnoor Singh Khanna says : Asset purchase by partner but used by firm
Dear Sir on 1st july you answered a query on this issue in which firm is paying the amount of motor car but it is purchased on the name of partner. Can you provide me the list of cases with citation with the help of the cases i can claim the Dep. It will be great help.

Umesh says : Taxation ;Corpus fund from redevelopment
Dear Sir/ Madam, A property under redevelopment fetches Rs 100 per member.Of which Rs 30 is corpus and the balance is Rs 70 that is the rent component spread over 3 years for the rehabilitation that the flat owners will have to manage with. a)Since the Rs 30 is given in lieu with a vision that the tax rates/ maintenance will be higher once the owners move into the new construction, should it be in the first place considered as a source of income and taxed as it bound to perish and hence is an estimated expense? b) Wrt Rs 70, why would this attract tax if its a provision paid in advance and will be distributed over the 3 years? In any and both the cases mentioned,there is no gain at all and hence the capital tax gain or short term tax again should not be applicable as there is no sale of plot/propert at all.Its purely a trade-off and I will seek your expert advice in this case as we are undergoing a circustance quoted above. Thanxking You'll in AdvanceDear

Yogesh Sapre says : Applicability of CARO
Whether CARO is applicable to liaison office in India of a Foreign Company.

Ashish Patil says : Taxation on Shares, Futures & Options Trading
Dear Sir I am a salaried person & doing shares trading since 3 years. I m in following trade 1) Shares short term trading 2)Shares intra day trading 3)Futures short term trading 4)Futures intra day trading 5)Options short term trading & 6)Options intra day trading. My queries are 1)Can I consider all the above trades as one & tax them at one rate if yes what will be the tax % rate. 2)Whether profit/losses of normal shares trading can be adjusted against profit/losses of futures and options trading. 3)How the turnover should be consider for Futures trading and for Options trading. 4) Under which form should be IT returns be filed It will be great help if you solve this query. Thanks in advance