Mr. X is an individual. He has proprietorship firm. He earn profit from proprietorship business. He paid taxex. After paying tax he want to give his sister some amount of profit.

Is sister liable for tax? Due to this transfer her exemption limit exceed now.

how it is possible?

It is already profit after tax then why again, tax will levy?

A public company was incorporated in Sept 2012 and got its cob n October 2012. Afterwards in the board meeting auditor was appointed for the financial yr 2012-13 and form 23B in respect of the same has been filed by the auditor.No statutory meeting has been held till now.
1. can the directors apply for extension for holding statutory meeting? if yes what is the procedure?
2. Directors (holding majority shares) want to remove the auditor whom they have previously appointed even for the financial yr 2012-13 on the ground of non conducting of statutory meeting and auditors outstation residence. They want a new auditor to sign the statutory report as well. Is this possible?
Kindly tell the best possible solution to cater this situation.

Whether IDC and pre-operative expenses which are capitalized to be considered as hard cost.

Dear sir,

can any one tell me Salary received by a Non Resident in his NRE account as Foreign currency is taxable in India or not.

Provided that he has to file a Income tax return as he has capital gains in India.

Can write joint bank account no.
for filing itr and my bank pass book name mention ajeet yadav and in pan card mention ajeet kumar. Is it possible my refund mony deposit direct in my bank ac. Whoes mention in itr

sir, for calculation of deferred tax asset/liability whether the following differences will be considered as timing difference ?
1. profit on sale of fixed asset
2. profit on sale of shares which is exempt
u/s 10(38)
3. profit on sales of listed security where indexation facility opted and tax paid @20%

An assessee filed return for the 1st time after receipt of notice u/s 153C and within time allowed in the notice. Tax was deteremined in the assessment. Is the assessee liable to pay 234A interest. Please clarify.

Dear Sir/Mam,

I am a manufacturer of ladies footwear and I am planning to supply to a brand but they have certain packaging requirement which involve the branding of the product, Thus in order to work with the company I have to get registered for excise.

how can is the best way to maintain my books as the process of maintaining my records involves a lot of extra paper work and administration.

Also is there a way in which I can supply to them without having to register for excise ?

A Notice to Show Cause demanding duty was issued to the Central Excise Assessee and served upon him. Before submitting his reply and to be heard in person, He suddenly passed away. As the Notice to Show Cause is still in unconfirmed stage on account of his demise, what is the legal postion now, i.e either to close / waive the unconfirmed demand or to enforce upon the legal heirs, if exist? I would like to have your valuable advise with authority.

N. Jayaprakash

Sir,

Hw can i pass journal entry for cenvat credit to be adjusted against service tax liability in tally 9