CMA Ramesh Krishnan's Expert Profile

Queries Replied : 26053

Hi.I am Ramesh Krishnan, Associate Memeber of ICWAI & Certified Management Accountant (CMA) by IMA(USA) Working in Bangalore

Award Winner as " Most effective Expert in Caclubindia-2011" My working style always like,

Take life always as challenge,Think positive,

Give involvement on taken task,Donot divert your concentration from the taken task,

Always target your goals and commitment,Your future always better. Jai hind. Thank you for visiting my profile

To reach me : cma.rameshkrishnan @ gmail.com or send PM for queries & professional help

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paras garg says : tally software
sir.i want to instal tally software for my family business on my laptop.plz advice me whether i can download free from any site or to purchased cd from market.i have no knowledge ..

Martin says : Surrender Existing PAN Card and then Apply for new
1. Should I surrender Existing PAN Card first and then Apply for new PAN Card OR Should I apply new PAN Card and then surrender the existing one. ---------------------------------------------------------------------------- 2. I have a only one PAN CARD in Gujrat jusdiction and I am in bangalore. I want to get rid of my old pan card and want to get the new one. In case of having only one card, I need to contact to Assessing Officer so should I go to Gujrat again for surrendering again? ---------------------------------------------------------------------------- 3. I do not want to face the AO, So can I apply for new PAN Card in Bangalore and once I recieve the same, based on having two PAN Card, Can I submit the old PAN card to any TIN-FC Centerto surrender? Is there any thing illegal or panelty imposed on such transaction? ---------------------------------------------------------------------------- 4. What could be good reason to mention for surrendering the PAN Card in case of point no. 3. ----------------------------------------------------------------------------

KG says : Joint Building - Rental Income
Here is my scenario. Greatly appreciate your comments/advice. - Mr.A owns plot M measuring 500 yds. Mr B & Mr C jointly own plot N measuring 500 yds. - Both plots M and N are adjacent to each other - Mr A, B and C are jointly constructing a commercial building spanning both plots M&N. One Building on both plots. - Mr A, B & C agreed to rent the building as a whole and split the rental income - Mr A is taking a loan for construction 1. Should the parties incorporate a corporation, for tax purposes? 2. What the best tax scenario in which the rental income gets shared with least corporate and income taxes? 3. Should Mr A, B and C form a corporation and let the rent be paid to the corporation?

CA Bikram Singh says : TAX ON COMPENSATION
I have a piece of land that belongs to MIDC(MAHARASHTRA INDUSTRIAL DEVELOPEMENT CORPORATION) which i have taken on lease for 90 years. I wanted to construct a petrol pump on the said land for which NOC is aleady given by MIDC. Now a power plant wishes to drag a high tension transmission line right over the land. As a result, i cannot construct Petrol Pump on the said land. However the Power Generating co. has offered me a compensation. I wish to know the Tax implication for the receipt of compensation with refence to the following points. 1. The land is a Lease hold Land and not owned by me. 2. I have not yet started the Petrol Pump, so no business Income from the Land. Kindly suggest under what Head the the compensation will be taxable and the rate of the tax for the same. Also let me know the section.