Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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CA Navin Jain says : Applicability of sac 44AB
HELO Sir An Educational Institution is registered u/s 11/12 of the Income Tax ACT AND it has received gross fess of Rs. 140lacs during the financial year 2007- 2008. Is appilicable Sec 44AB(Tax Audit)? Regards Navin Jain

CA Vijay Agrawal says : rectification in query
Sir, the tranportation charges are borne by principal via bills not the factory in my case but actual freight to local truck is made by factory suggestive legal provision is welcomed from your end

CA Vijay Agrawal says : Query of GTA
Sir i am impressed frm your reply on penalty under service tax so i want one more clarification in case of GTA That my factory is in agreement with principal for processing goods and after due processing sending the same to principals godown at his cost. for this the factory hires local trucks only. whether the factory is liable as gta under the act to pay service tax on such transportation charges

CA CS Akashdeep Singh says : Reply to your answer
Sir One of my client(X Ltd.) has a business income from taxable security transaction. Current issue is relating to Sec 115 JB and Sec 88E. Facts In Sec 115JB, if "tax on total income" is less than 10% of book profit, then 10% of book profit shall be treated as tax which he has to pay. In Sec 88E, if any individual has a business income from taxable security transaction, STT paid by him is allowable as deduction from tax on total income Issue In Sec 115JB, which "tax on income" is taken to compare with 10% of book profit? Solution: tax after or before deduction u/s 88E Regards Akashdeep Singh Reply to Mr. Tilak Raj Sharma Sec 88E using the word "assesse", which means it includes company CA.B.Chackrapani Warrier Yes i rectify my question after informing by you because i am not registered as expert, so it is not possible for me to ask corrected question in same message. If you know the answer, then understand Me

indira says : Tax Audit
Dear Sir, Is it mandatory for a private limited company to get tax audit done if the total of turnover exceeds 10 lacs? and if so should it be done only by a qualified CA?