sir/madam,

The book value of a land of IOC Retail Outlet is Rs.2,56,800/- . But the market value as per sub-registrar valuation is around Rs.35,00,000/-.

Now, I decided to take into account the appreciated value of land in the books of account.

Kindly reply what is the procedure for appreciation of land.

thanks in advance

IF INDIVIDUAL PERSON HAS SALARY INCOME LESS THAN RS. 500000/- AND TERM DEPOSIT INTEREST INCOME AND OTHER INTEREST INCOME (EXCEPT SAVING BANK A/C AND PPF INTEREST INCOME)IS MORE THAN RS 10000/- FOR F Y 2012-13. IN WHICH RETURN HE SHOULD FILE INCOME TAX RETURN ? ITR-1, ITR-2, ITR-4 PLEASE ADVICE ME IMMIDIEATELY REGARDING THIS WITH INCOME TAX DEPT. RECENT AMENDMENT IN MAY -2013.

We.are having a banquet hall. We give it for events and charge lumpsum for catering services. The food is brought from outside and served. what will be service tax liability and vat liability ? Under which.head service tax liability.and what rate ?

Dear Sir,
There is an individual assessee who has business income of Rs. 4.8 lacs in Fy 2012-13. Apart from this he has some ancestral agriculture land, from which he has income about 1.5 lacs.

Now please advise me, whether that assessee has to club this agriculture income in his individual return
or
He can keep seperate this agriculture income from his return by considering that it is his HUF income.

Please advise me.

Dear Sir,
Suppose in case of a partnership firm. Particulars are as follows -

gross receipts - 1000000/-
gross profit - 100000/-
expences - 20000/-
net profit - 80000/- u/s 44AD
interest and salary to partners - 50000/-

Now filing column 51 of part P&L of itr5 -

gross recipts - 1000000/-
gross profit - 100000 lac
expences -
net profit -

In the coulumn of expences I should fill only Rs. 20000/- or I should fill 20000/- + 50000/-

Please advise me.

Hello,

Can any one explain me what is the concept of Under value bill ? Tommorow,I have to vouch purchases in audit. I do not have knowledge of VAT.

Please help me as soon as possible.

Is a freelance Journalist who earns income by contributing articles/ news stories in business journals covered by sec 44AD, if his gross earning is lower than 1 crore and declare his income @ 8% of gross receipts?
Journalist is not covered as Profession in sec 44AA.
Will his activity be treated as service business or as profession?

Dear Sir,

My brother is a Major Shareholder (60% around 10200 shares @ Rs. 10 per share) in a small IT Company and he is drawing a salary of Rs. 30000 p.m. (My brother is not received any dividend since this company is a just one year old company)

My Query is while filing the individual IT Return do he need to show the investment in these shares in IT Return?

Dear Sir,
Suppose FD was taken in July 2012 and the period of FD is 15 months. That mean fd will be mature in fy 2013-14.

1. In the above case whether the assessee has to show accrued interest from July 12 to march 13, in his IT return for the fy 2012-13.
or
He can show the whole interest in the return of FY 2013-14.

Please clarify.

SIR,

I HAVE REGISTERED UNDER NEW SYLLABUS 2012 OF ICWAI, I HAVE`NT RECEIVED MY STUDY MATERIALS YET. PLEASE CONFIRM ME IS THERE IS ANY CHANGE IN THE SCHEDULE OF SUBMISSION OF ANSWER PAPERS FOR STUDENTS REGISTERED UNDER REVISED SYLLABUS. EVEN THOUGH QUESTION PAPERS HAVE UPLOADED 2 WEEKS BACK...ONLY