one of my client got property as inheritance in 1952. he sold that property in 2006-07. as he can opt fmv as on 1-4- 1981, he tried for supporting document to get value as on 1-4-1981. but he did'nt get that. instead of that he obtained register value in the year 1987. can he take that as the base and can he go back and calculate fmv as on 1-4-1981?
plz guide me . i am in great confusion.

give reply to my mail "hariwithu@sify.com"
thanku

hi friends ,
this is haranath,
my query is,

Mr. A inherits a house property from his father, who had mortgaged it. Mr. A discharges the mortgage debt. Mr.A later sells the property. Can he claim the amount paid to the mortgagee as cost of improvement in computing the Capital Gain?

If yes, please refer any case laws.

firm tds on contractors limit 1000000/- over for the month dec'07.

In previous tds rate 2.06 deducted. From Jan'08 onwards 2.266 deducted (with surcharge).

In present month bills deducted tds with surcharges, in previous bills also changed with surchage (2.06 instead of 2.266)

my query is total bills effected 2.266 or above 10laks bills only?

please sir

hi frnds can you tell me what are the amendments applicable for may 08 exams

I know that Income tax Act 44AB governs Tax audit. Then what is Statutory audit? If they are different Can a tax auditor be a Statutoty auditor of the same company?

It will be onland drilling Rig,Mounted on carrier/chassis with Tyre.This will work together with few items like Drill pipes,Mudpump,Motors,weldingmachine,Tanks,Safetyequipment,Generators,Containers.they can be singly identified items as well package of one.The working of that machine is drilling and workover rig in oil and exploration field.
As per sec E12(B) in ready Reckoner,it has been written that plant used in field operation (below ground),but not including kerbside pumps including underground tanks and fittings used in field operation by Mineral oil Concerns.

We are contractor of oil and exploration company for drilling rig and workover rig given on hire on contract basis .
so i want to know wat wii be depreciation rate as per IT act and as per Company Act in case of a contractor for providing services to oil and exploration co.

What is SAR's stock appreciation rights, and whether it attracts FBT or not?

Dear Sir,
We are paying the Canteen owner Rs. 50,000/- every month for providing our Institute employees tea and snacks. The amount paid is from 3 different Accounts (3 different Institutes of one campus). Kindly tell us whether we should deduct TDS while making payment to him?
Institute has given canteen to him on rental basis.

please advice me who is the best book of income tax Act for CA in practice (excluding ready recknor).

our company employees were going to garden party in resorts, total food and entrace bill was Rs.62000/-

on that tds deducted or not

plz..sir