Sale is not A direct income ,than why it exists in trading A/C?

One of my client purchased a Plot from a Society of government of Punjab for Rs.6,10,000/- on 26-10-2004 on the condition that he can sell it to only Housing development organisations. My client made an Sale agreement with a Housing Development Organisation for Rs.82,50,000/- on 25-02-2007 in which it was said that payment can be made in four installment without any date mentioned. My client received 1st Installment on 13-03-2007 of Rs.15,00,000/- and 2nd of Rs.18,00,000/- and deposit a tax of Rs.9,00,000/- on 15-03-2008 but there after Real owner of property i.e. Society of Punjab Government filed a case in a court that this sale can not be made to this organisation and stay has been granted by court. Now i want to file return of my assessee for the A.Y-2008-2009. How could i file it whether i will claim refund of that amount or anything will done diffrenet.

Whether intraday profit is taxable as short term capital gain?

Hi Experts,


In addittion to my other queries here is new one.

I am buying Goods from outside Delhi @ 2% CST paid by me till now and selling the goods in New Delhi @ 12.5% VAT

My margin in the product after Delhi VAT is not more than 5%

How is the ways I can save on Tax specially knowing when 12.5% is reserved for the Govt of Delhi.

Is there any way out except selling goods outside Delhi ?

Why is the exemption limit Rs. 1,50,000(in case of individual other than Resident women and Resident Senior Citizen)? I mean, how such limit is derived? Why it can't be Rs. 1,50,005 or some other figure?
How are these slab rates fixed?

Regards,
Jinesh

My friend who is a salaried person with Mutual Fund dealings is in need of a package which combines accounting for the individual alongwith ITR.The source of input would be the Bank Statements and the reports required would be Balance-sheet,Capital A/c,Receipts & Payments statement,Computation of taxable income and any other reports that an ITO would typically demand during a scrutiny assessment.Is there any such package?Is it freely downloadable?If not,what would be the cost?From where can he procure the same?[Note:He is not a Commerce graduate and hence would require a simple and user-friendly software].Many thanks for a prompt response and help.

Hi all
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I want to know esi and pf journal entry in accounts with example and how it impact on accunts of employer? please help

Hello,

Could any one please advice me which is the CA Final Group I coaching class near to Ramamurthy Nagar/Banaswadi, especially for Accounting and MAFA

Thanks
Jay
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