CAclubindia

Queries Replied : 26053

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

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ashish sharma says : Strategic Financial Management.
Greetings for the Day, My question is, Govt. has provided a revenue subsidy to a backward area and as per the subsidy the assessee's 20 profit is exempt from tax and rest 80% is taxable. Now in the initial four years of the project the assessee has suffered a loss and my concern is whether he can carry forward loss his whole 100% loss or he can only carry forward upto 80% of such loss. Prompt answer will be appreciated. Thanks in Advance. Regards, Ashish Sharma.

SURENDRA says : register of fixed asset and stock of raw material
dear sir, please provide formats of fixed asset and stock of raw material and closing stock register

Asit Adhikari says : Income Tax
Dear Sir, There is a Proprietor doing Proprietorship business related to Electrical Goods & Computer, he provides service also. He does not maintain accounts & don’t have VAT Registration. His Income is Non Taxable for A.Y. 2014-15. Now please suggest me which ITR form should I fill ITR4S or ITR4

Ravi Goswami says : Loan Receipt & Payment
URGENT : How much Rs. can receive in CASH as loan from partner and other parties in partnership firm ? and How Much Rs. can Pay in CASH for Loan Return to Partner and other parties in partnership firm ? Note :- This partnership firm is newly. this F.Y. is 1st year

Rajan svr says : tax on global income
I need your advice on following matter After my studies in India , I left for Australia on 05 Oct 2013 on a job with a global IT company (stay in australia is 175 days in financial year 2013-14) . howver australian tax year ends in June. My salary in austrial wil march 2014 was 28 Lacs (2781763) & tax deucted till march was 8.3 Lacs . I also have 1 .1 Lacs as interest income in india. When filling sheet FSI In ITR 2 , there is a column "tax payable on such income under normal provisions in India". How to claculate this. I calculated it as 684437/- which is much lower than the tax in australia & due to this it is showing tax laibility for me in 2013-14 financial year. I also 80c of 1 lac for PF. Also I showed this salary earned in australia in the Partb-TT1 salary sheet . Am I doing something wrong !