final nov new direct tax solution

q.1.b.   sale price  3500000

   cost of actuition 1000000*632/406   less  25000*632/463

is the capital gain

reduce 1300000  if tds has been deducted on purchase form nri

balance is capital gain

q.1.c.    nil and rs..600000

flat 1  rs.3000000

  pegging down  1200000

exempt u/s 5    one value of flat

chennai flat   :-  value  pf  rs 500000  or  purchase price  600000

so 6 lks

1.d intrest to be added not profit

praportnate intrest for 11 months on balance amout and 12 month for rs. 2 lks to be added

intest get add on not profit

all losses get compensatedddto be solve in that line

a.2.b. its nothing but a sale for which they got considration of not to work for 5 years no need to deduct tax at source

q.3.a.   rs.150000

            rs.46000

tax  rs. 30000+600+300=30900

q.3.b.  405+10-2-1.6-0-+3-0+.2-.5   if u dnt got plz ask

a.4.a   irregurality in notice not invaldiate the prossing , assess cant take advantage a.o is correct

though he is suppose to record resons for the same

q.4.b.  managing patner /authorisezed patner /anypatner but not minor patner can sign

  liabilty upto there share

12%  max  can be paid as interst

tax preparer

to be charge 15 plant +  20%  new machinert

10 bulding

10 furniture

q.5.b. ao is not right

Q5 c.   no ao cant deny

q.5.d. yes  income by bogus certificate is chargable to tax

q.5.e   business income not houst property income

Q.7.a  montly bal to be calculated fpr 3 moths and add with the balance

yes claim can be made in house property income as intrest paid

no its dnt make any difference if house is on rent or not

q.7.b.90 lks  -30  lks  =  60 lks  wealth tax 60 ths

q.7.c  transaction aboove 10 lks by bank

trancation above 30 lks by registrar or sub registrar

60 days