CMA Ramesh Krishnan's Expert Profile

Queries Replied : 26053

About me

Hi.I am Ramesh Krishnan, Associate Memeber of ICWAI & Certified Management Accountant (CMA) by IMA(USA) Working in Bangalore

Award Winner as " Most effective Expert in Caclubindia-2011" My working style always like,

Take life always as challenge,Think positive,

Give involvement on taken task,Donot divert your concentration from the taken task,

Always target your goals and commitment,Your future always better. Jai hind. Thank you for visiting my profile

To reach me : cma.rameshkrishnan @ gmail.com or send PM for queries & professional help

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CA.Kaoshlandra Pandey says : Income Tax
For Financial Year 2009 -10, Assessment year 2010-11. Assessee Mrs.X filed Return on 14/04/2011. belatedly u/s 139 (4) of IT Act.1961. (Now We know this can not be revised). Showing Income from profession Rs.189500/- taxable and agriculture income Rs.500000/- Not Taxable Total Income Rs.189500/- No tax is/was payable on that. Cash balance shown Rs.495000/- (by mistake) Now We know this can not be revised. On 27/09/2011 a notice u/s 143(2) was issued asking for explanation regarding agriculture income and cash balance. I have attained A.O. on 18/10/2011 and discussed and filed oral explanation and AO has given me next date of 25/12/2011. on the same day I also filed an application for transfer the application from one city to another since assesses has got married and it was not practically possible to join the A.O. I have sent all the explanation required by A.O. during our first discussion through registered post. I discussed with assesse in this regards and she was like she has no agriculture income and cash and the same is done by mistake of her tax consultant. I instantly revised the return in spite of knowing fact the return was belated and can not be revised; I revised electronically. On 27/08/12 Assessee received another notice from new A.O. (AO of New city)u/s 142(1). asking all the information which i have already submitted to earlier AO through Registered post. I attained the same as per date given by A.O. and submitted all the details required by him and also shown/given in written the fact of mistake of Tax consultant about agriculture income and cash balance. As per Law the assessment of AY 2010-11, can be completed till 31.12.2012 (i.e. within 21 months from the AY in which the income first assessed.) The AO has served Assessment order u/s 143 (3) on 15/02/2013. As under Income from business Rs.189500/- undisclosed inc. Rs. 500000/- Tax + Interest= Rs.160000/- NOW I BELIEVE THIS THE A CASE OF TIME BARRING ASSESSMENT AND INVALID SINCE THE LAST DATE OF ASSESSMENT COMPLETION WILL BE 31/12/2012.(BEING 21 MONTHS FROM THE END OF AY 2010-11) KINDLY PROVIDE YOUR VIEW ON MY HOLD???????? This is the new and important case for me kindly help me ASAP... YOU MAY ALSO WRITE TO ME AT ca.k.pandey@gmail.com Regards CA. Kaoshlandra Pandey 9699641097 Read more at: http://www.caclubindia.com/experts/ask_query.asp

arbind jha says : service tax
our company is providing some service for which they have already registered under service tax. Now due to reverse charge on director remuneration will company to apply for addition of service in ST2.

paras garg says : tally software
sir.i want to instal tally software for my family business on my laptop.plz advice me whether i can download free from any site or to purchased cd from market.i have no knowledge ..

Martin says : Surrender Existing PAN Card and then Apply for new
1. Should I surrender Existing PAN Card first and then Apply for new PAN Card OR Should I apply new PAN Card and then surrender the existing one. ---------------------------------------------------------------------------- 2. I have a only one PAN CARD in Gujrat jusdiction and I am in bangalore. I want to get rid of my old pan card and want to get the new one. In case of having only one card, I need to contact to Assessing Officer so should I go to Gujrat again for surrendering again? ---------------------------------------------------------------------------- 3. I do not want to face the AO, So can I apply for new PAN Card in Bangalore and once I recieve the same, based on having two PAN Card, Can I submit the old PAN card to any TIN-FC Centerto surrender? Is there any thing illegal or panelty imposed on such transaction? ---------------------------------------------------------------------------- 4. What could be good reason to mention for surrendering the PAN Card in case of point no. 3. ----------------------------------------------------------------------------

KG says : Joint Building - Rental Income
Here is my scenario. Greatly appreciate your comments/advice. - Mr.A owns plot M measuring 500 yds. Mr B & Mr C jointly own plot N measuring 500 yds. - Both plots M and N are adjacent to each other - Mr A, B and C are jointly constructing a commercial building spanning both plots M&N. One Building on both plots. - Mr A, B & C agreed to rent the building as a whole and split the rental income - Mr A is taking a loan for construction 1. Should the parties incorporate a corporation, for tax purposes? 2. What the best tax scenario in which the rental income gets shared with least corporate and income taxes? 3. Should Mr A, B and C form a corporation and let the rent be paid to the corporation?