Sunil Kr. Sanganeria's Expert Profile

Queries Replied : 593

About me

I am Chartered Accountant, Cost Accountant and Company Secretary having an experience of 22 Years. I am Director- Accounts of Batlivala & Karani Securities India Private Limited

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Jignesh Desai says : Amalgamation accounting for ShareHolder
Dear Sir , I had some shares of Reliance Petroleum .This Company got amalgamated into Reliance Industries on a certain date & I was issued 37 shares of Reliance in leiu of 600 shares of Reliance Petroleum . Now , for Income Tax purposes , what is the Purchase Date of these 37 shares of Reliance ?

Priya Rao says : Query on leave encashment
Hi Sunil..I have a specific query on leave encashment... Is leave encashment by a PSU (semi-government) employee during employment taxable? If yes, can you list the tax implication? Will such leave encashment treated as a taxable allowance in calculating perk on PSU company provided accommodation for the PSU employee?

Himani Mishra says : Balance Sheet reqd?
In addition to the above, I also want to ask if I need to prepare a balance sheet and do I need to send it to IT Deptt alongwith my ITR? Pls clarify. I'm already late. Rgds Himani

Himani Mishra says : Query regarding income tax filing of sole prop
Hi I have recently started an HR Consulting firm and have been able to make 5.5 lacs in the first yr. I have Form 16A from all my clients as they had deducted TDS from my payments. Now for filing ITR, how do I show the expenses? Is it necessary that all expenses be showing on my bank account statements, as some of the expenses are paid for in cash. Pls clarify. Can I file my return through Taxsmile in my case? Regards Himani

sandeep says : FBT adjustment
sir , FBT is paid excess can we adjusted it profit and loss account of the company by including it in the provision head.