CA PARAS BAFNA's Expert Profile

Queries Replied : 9397

I am a practising CA from Surat

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Favourite field of activity is Income-tax .

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Vineet says : ITR2 - CG negative value
Hello, I saw you answered a query similar to mine. I have a positive STCG 111A, but for one period of 16/3 to 31/3, I have a negative number (loss). So filling section D, I am not allowed to fill negative numbers, so what do I do - just fill the positive numbers for other periods or adjust the negative value in those periods. Early response will be appreciated.

Tushar Desai says : SOFTEX Form
Sir, we are in the business of providing "Software Development & Testing" services in NON-PHYSICAL form. Our monthly invoices are of value around $15000. I have heard that, for export values less than $25000, you are not required to declare the value on SOFTEX. Does it mean that we are not required to submit SOFTEX form with STPI? - Tushar Desai

rahul says : ca final
when vl b d exam forms of CA final Nov 2011 will be coming ????? n important one can i take a signature of any CA on it....other then ma principal CA ??

CA. Kalyan Chakravarthy Vennety says : Section 54F on Multiple long term capital assets?
Sir, Whether 54F exemption on the basis of investment in one residential house can be claimed on the sale of multiple long term capital assets? My client has sold 2 plots and invested in one flat. I have In order to apportioned the long term gain between the 2 assets. The section does not specifically mention more than one long term capital asset situation. Is there any case or reference which expressly allows multiple long term capital gain for 54F exemption in view of certainty of our claim?

Rahim says : revision of tax audit return AY 2010-11
Agreement to transfer capital asset made in March 2010,also get registered in March 2010. Capital Asset Shown in Books.10 % of consideration received till end of March 2010 which was shown as advance. Balance 90 % of consideration received in April 2010 ie AY 2011-12. Can we Revise such return or can we show such capital gain in AY 2011-12 since 90 % of consideration received in AY 2011-12.If not how should we dealt with such circumstances.please guide me.