A company, which is also a partner in a partnership firm has the following incomes :
(a) Income fm Interest Rs 60000/-
(b) Income fm Partnership Firm Rs (-) 20000/-

Now while calculating the tax, tax would be calculated on Rs 60000/- or net Rs 40000/-?

Can we conduct AGM without adopting accounts and not appointing auditors for any financial year under the provisions of Companies Act, 1956?

Anyone can tell me about the date of return filing of Truet? please

Dear all,

There is a newly established partnership firm on 31-1-2013 for doing retail medical business and its business started from 15-2-2013. In the year 2012-13 it has only Rs.26,000 sales and it has nearly Rs.20000 loss(after depreciation and no remuneration or interest receiving by the partners) as on 31-3-2013 from that business.


As per section 44AD each business income having assessees who are not liable for tax audit u/s 44AB as per the act must and should be offer minimum of 8% taxable income on gross sales for the tax purpose. As well as it giving another exemption those who didn't want to offer such minimum income as per section 44AD has required to maintain regular books of accounts must and should and if their total income exceeds basic exemption limit then required to do tax audit u/s44AB.

So in our case basic exemption limit is zero and the firm has maintaining regular books of accounts and its total income is below exemption limit(i.e it has net loss).

So my query is, is that firm required to do tax audit u/s44AB or just it can file its return of income with loss and carry forward for future years.

Thanking you,

I WANT OBJECT CLAUSE OF RICE MILL CO.IT IS NOT AVAILABLE IN THE LINK PROVIDED BY MR SANJAY GUPTA.

Dear all,

I have filed Form 1, 18 & 32 for incorporating the company today. Please tell me how much does MCA generally take to confirm company incorporation after these Forms have been uploaded.

Please give your expert comments as its a matter of urgency

sir iam waiting my final result of cwa so i can claim any benefits in executive programme of cs or in any paper of cs in dec-13 attempt. plz urgent

wheather service tax applicble on the job workers or not?

OBJECT CLAUSE OF A MINERAL BOTTLE COMPANY.EXAMPLE AQUAFINA

OBJECT CLAUSE OF A RICE MILL COMPANY.PVT LTD.