Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Naga Durga Rao says : Affidavit
Sir, please suggest/ provide affidavit sample to roc for stampduty not applicable regards, Naga

Aijaz says : Stock market query
Assume x has no other business and trading in future stock and equity stock deliveries (keeping them form2-3 months) is the full time job Can he show himself as trader while filing returns if yes than what will he show for short term capital gains or they will be automatically treated as trader? How will he be taxed and which slab? Below is the example Suppose x has done 10 trades in a full year in futures and got profit of 6lakhs in carrying forward the position and in the same year X has done three delivery based equity share and kept it hold for 2-3 months and got profit of 12 lakhs.. What is the tax liability? Should X show himself as trader or an investor for two different trades… Over all X has profit of 17 lakhs for which tax slab this case fall Short term capital gain or business income.. I Can x opt for 44 ad in this scenario?if no then which ITR should X opt and should it need any documents to be attached while filing e-returns Thanks in advance

shanmukh says : captital gains
sir my bro purchased a vacant land in the year 2001 for 70000 and the same land has been sold in the aug month year 2013 for 600000, he is subject to pay tax under capital gains but my bro purchased another vacant land in sep 2013 is there any exemption under any section? i searched but i have not been found any remedy.can u give solution for this?

jineesh says : Gratuity calculation
Hello sir, Please answer me the question? Instead of calculating provision for gratuity yearly and to charge corresponding to expenses company calculated provision (end of service benefit) during the year and charged to expense for the last couple of years accumulated one. This will come around half million and it will really effect the profitability of the firm. So my question is company can show the gratuity provision this year in full and charged to expense for the previous years in current year financial statements? Or Company can show each year 25% and complete this within 4 years? Or Company can show this as prior year adjustment and show the full amount as current year expense Or Company can create an head like prior year adjustment under non current asset and portion of these will transferred to expenses each year

Amarjeet Singh Dahiya says : Service tax on Land use in Factory
Dear Mr. Chackrapani please tell me exemtion and taxable rate of service on Rent we receive rent against my industrial area plot has use in factory