CA CS CIMA Prakash Somani's Expert Profile

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About me

TAX ON SALARY DATEDIF FORMULA COLOR MAGIC in EXCEL NCFM MBA CA CS SAP Ayurveda Lawyers IndiaStudyChannel Games Linkedin Rediff Gmail INDUSTRIAL TRAINING Bank Audit CFA (US) TDS Service Tax CPE CA Firms Health Budget Yoga Ratio Analysis VAT SOX

Hello everybody, I really don't know where to start from.
I am basically a friendly person but not the one to take the initiative when confronted with a new person. But once the ice is broken, I spare no efforts in charming the other person.
I am an avid reader. Books are my passion. No matter how busy I am, I always manage to find time for reading. I also enjoy good food, Hindi music & a good cup of coffee.
I am a fun loving guy want to enjoy life as much as possible. I like making friends and I am a good friend. I love taking risks.

I am a determined person and works hard to achieve what ever I determines...,I have very strong will power..., full of confidence... a bit extra confident some time but manages to achieve my goals and never gives up attitude.

Always do whatever I think. I live life in my own special way. Always do whatever I think. Make own rules and follow them. Always Thing about these lines, when i do any thing:-

“Quality is never an accident, It is always the result of high intention, sincere effort, intelligent direction and skillful execution; it represents the wise choice of many alternatives”

Ultimate Vision of my life

1. “To be able to look back and not have any major regret – to feel satisfied that I lived a life that mattered.”

2. “The woods are lovely, dark and deep
But I have promises to keep
And miles to go before I sleep
And miles to go before I sleep.”

3. "It's good to be important but it's more important to be good"

I think that’s the best I can describe myself and like I said earlier if you want to know more about me get in touch with me.

What kinds of questions I can and can't answer?

My area of expertise

My experience in the area (years):

Organizations I belong to:

Publications or writing which has appeared :

Educational credentials:

Award & Honors:

srikiran says : reply for atc acreer
hi i am aged already 23 and i am not thinking to go for job in my late 20's

avinash narayanrao korde says : know baout excise
dear sir, can u send me a excel file how to maintain rg 23 I ,RG 23AI AND PLA A/C OF WHOLE FINALCIAL YEAR. THANK & REGARDS AVINASH

Umesh says : Corpus Fund From Redevelopment
Dear Mr Somani A property under redevelopment fetches Rs 100 per member.Of which Rs 30 is corpus and the balance is Rs 70 that is the rent component spread over 3 years for the rehabilitation that the flat owners will have to manage with. a)Since the Rs 30 is given in lieu with a vision that the tax rates/ maintenance will be higher once the owners move into the new construction, should it be in the first place considered as a source of income and taxed as it bound to perish and hence is an estimated expense? b) Wrt Rs 70, why would this attract tax if its a provision paid in advance and will be distributed over the 3 years? In any and both the cases mentioned,there is no gain at all and hence the capital tax gain or short term tax again should not be applicable as there is no sale of plot/propert at all.Its purely a trade-off and I will seek your expert advice in this case as we are undergoing a circustance quoted above. Thanxking You'll in Advance

RAVI says : cg on hp sale
Dear Sir I sold house Cost 18(4year holding) in 41 lacs, repaid home loan in Oct'09 18 lacs...entered agreement to purchase house 65lac /feb 10( down payment 6.5 lacs)..rest sale proceed in a saving a/c till builder demands......is in CG in AY 10-11

veer yadav says : nsc interest
Dear sir,I have rcvd Rs 100000 on maturity of kisan vikas patra & has reinvested it again so my interest income of last year will be taxable under the head ifos & rs.100000/- will be allowed as dedc u/s 80c is it correct