I had invested in a particular ELSS Direct (Growth) fund lumpsum 3 yeara ago to save tax u/s 80C. Now, on completion of the lock-in period that fund has given good return (56% absolut). Would it be advisable to invest again in that fund this year after redeeming the old units?

Dear Sir/Madam,
How to submit 112 form for another course during articeship and after getting permission for above course can i do for another course.
Hello sir,here my query is that i have some doubt regarding form 112 for example
1. If i got permission for a course and did another course along with same course can i get permission for middle of the course were permission is not got can i submit Form 112 for that course and can i continue with that course how
2 After completing my permission course can i apply for another course how
3 Is it compulsory to submit form 112 if not can you tell me what are the consequences/effects in my CA career
4.Can you tell me which act should i refer for understanding the provision for submitting Form 112

Thanking you sir.

One of my friend running own business of Electric Job work, Like Repairing of Electric Fans, Mixer, Coolers, Home appliances, New wire fitting in newly constructed houses / shops, Repairing of Washing Machine, Geezer and also repairs all types of electric components, which we have used in daily use at Homes.

Please tell me which Business Code of ITR-4, to be used to filed Income Tax Return for the Assessment Year 2018-19?

Please give your expert opinion.

With regards,

We are in opinion of opening a account for utilization of Foreign contribution, whether such new account also be in scheme of FC account or normal account can be opened?
Please give a suggestion ASAP.

Dear Sir / Madam,

ABC Pvt Ltd is formed during FY 2018-19. During FY, the Company has given some loans to directors. The directors were not aware of provisions of Section 185 of Companies Act that the Pvt Ltd company can not give loans to its Directors. That means the Company has violated this provision. Realizing this now, The Directors are ready to repay that amount to the company. This is a genuine case that most of the times the directors of Pvt Ltd company may not be aware of such provisions in very 1st year of the formation of the company.

Can we say now (after receiving above repayment) that the Company has not violated the provisions of Section 185 of Companies? Whether this needs to be reported in Statutory Audit report?

Please Guide
Regards,
Suraj

I am a resident senior citizen tax payer. I do invest in ELSS MF(Growth option) each financial year to save tax under section 80C of Income tax Act.
I had invested as usual in some ELSS schemes in March 2016 which I intend to redeem now after completion of 3-year lock in period. Since introduction of LTCG tax by the central budget 2018, this the first time I will sell ELSS units.
As such I am in need of some clarifications on calculation of LTCG from experts.
The following example will be helpful for me.
I had purchased 1690.846 units of a particular ELSS on 09.03.2016 at a price of Rs.29.57/unit. The total investment was Rs.50,000/-
NAV of these unit on 31.01.2018 was Rs.44.8938/unit
My sale price on 12.03.2019 is Rs.46.253/unit
Appreciation in value since 31.01.2018=(46.253-44.8938)=Rs.1.3592/unit
Hence total gain= 1.3592*1690.846=Rs.2298
Since, LTCG upto Rs.100000/- is tax free in a financial year, I am not required to pay any tax for this gain.
Am I correct?
Kindly, give me expert opinion.

Dear All,

I want to calculate NRI Taxable income which arise in India though sale of property only and having capital gain.

My Query is that is NRI liable for Basic exemption which Rs. 2,50,000/- in this case

please advise me with narration or exemple

Hello Sir,

I have sold a residential house Rs.70,00,000/- after a period of 10 years from its acquisition, getting a LTCG Rs.51,13,320 after indexed cost formula and purchased a new flat worth Rs.40,92,600/-, still getting a gain of Rs.10,20,720/-, please advice where i can utilize this amount except depositing the complete gain in Government specified bonds and also don't want to pay tax @20% on this gain.

Thanking you.

A textile company engaged in manufacturing Fabric and Yarn. Overall turnover is crossed 100 crores. Fabric sales > 35 crore and yarn < 35 crore. Cost audit is applicable to both or only fabric. Kindly clarify.

Hi, My wife's ITR-V was submitted on 31.08.18. But the e-verification could not be done earlier as her PC was out of order, she is not well conversant of doing this online and I was constantly out of station due office work. Her PAN & Adhar are linked. Yesterday I tried to e-verify based on Adhar OTP, but was not successful. I tried twice, and the reason for delay mentioned by me was not proper, a friend of mine is saying. It is still showing un-verified. Both the times, reason given by me for delay were also not proper, he said. First time I gave: Others - My PC was out of order....second time I selected the reason: Hard copy for verification was sent, but CPC must not have received within 90 days. Today my friend told me to take your help before entering in to complication, hence this request. Kindly advise me what is to be done for getting it verified and obtain my Refund. Refund receivable is Rs.4510/- Please guide me with a return e-mail. Regards, Madhavan TV 9833290817

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