CAclubindia

Queries Replied : 26053

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,

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Meet Thakkar says : cap gain related
CLIENT HAS PAID 1CR TOWARDS A PROPERTY PURCHASE IN 2011 TOTAL PURCHASE VALVE IS 4.5CR WHICH IS TO BE PAID LATER . HE HAS RECEIVED A LETTER OF ALLOTMENT FOR THE PROPERTY...NOW IN 2013-14 HE HAS SOLD A FLAT AMOUNTING TO 2.5 CR AND WANTS TO KNOW WHETHER IF HE CAN PAY THE BALANCE OF 4.5CR -1 CR = 3.5CR FROM THIS SALE PROCEEDS OF 2.5 CR FLAT AND CLAIM EXEMPTION U/S 54/54F...PLEASE HELP AND COMMENT ..ALSO TRY TO SITE SOME CASE LAWS OR CIRCULARS IF POSSIBLE

vineet tripathi says : Plz resolve my query related to ITR form
Dear Ramesh krishnan sir, 1. I have a savings interest of Rs 37390 for a year and no salary/pension.In form 26A ,I found my TDS to be 3739. I already filed it under ITR-1 ,make deduction under 80 TT as 10000 but I have not sent ITR-V yet. I did it in right way or not? Should I file it under ITR-2? 2. I want to claim ITR for previous years also(2009 onwards).Can I claim refund of the amount which was charged by IT dept 4 years back?After filing can I send all ITR-V in same letter by speed-post? Regards, Vineet

Hemant Chansoriya says : Query about private trust treatment.
Respected Sir, I have query about the treatment of Private Trust in Income tax. Please guide me in following issues: 1. which form to file (4th letter is 'T' in PAN card) - Dept. accept ITR-2, ITR-5, ITR-7 in case of online filing. Please guide where to file ITR-2 2. whether slab benefit will available for a private educational trust (having trust deed but not registration under any Trust Act, also no reg. under section 12AA) And if no slab benefit is available then at what rate the income is taxable whether at -Maximum Marginal Rate (30+10+3%) or -At Flat 30+3% 3. Whether section 167B is applicable as we don't have share determinate in case of trust. Thanks

Vartika Agarwal says : cost audit & compliance report
Dear Sir, If a company had got cost audit done then whether it is required to obtain cost compliance report also & file with the govt. or not ? Thanks