Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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manish says :
my client has sadi show room from many time.last year he audited it as its t/o was 72 lac. now he also started one business of trading of edible oil last year i.e 12-13 and its T/o is 1.7 crore & it has loss of 7 lac and he will shut down this business in13-14 but his main business i.e sadi show room has 60 lac T/o and has profit of 5 lac. now what to do ? he has to audit both the firm or can he carry fwd his loss

HARI PRASAD says :
DEAR SIRS, i wish to ask you about how to calculate service tax amount for the following figures which was deducted TDS COMPONENT @ 2% Total amount received as per form 16A 223500 - 4470 = 219030. so in this i want to know how to extract service tax component @ 12.36 please suggest me

CA GORAKH SHIVAJI INGALE says : income tax
Shop Purchased for Rs.1484000 in 2007 against Shop Loan of Rs. 700000, by mistake Shop remain unrecorded as fixed asset but Loan recorded at liabilities side in the year 2007, now in 2013 want to rectify this mistake of unrecorded fixed asset...please reply asap

malkeet singh says : Income tax
Hello Sir, I want to ask if someone is in receipt of money while acting as agent for a foreign company for delivery of products of company in India the orders are placed by people on the online shopping site of company and invoices and payments are received in company name and accounts. How to present this income for taxation.

Pulkit says : 2(24)(iv)
A company x whose share holders are a,b & c has infused rs 2 crores in company y and has got 10 percent shares. While the rest 90 has been acquired by a,b & c. The order of acquiring shares in y is forst a,b&c and then x. Can you tell me if there is possibility of 2(24)(iv)