Good evening sir Very urgent query I an hare again to get your valuable answer.We have purchased a proprietor firm 1.30 Cr with all assets & liability and we carry forward all assets & liability in my books but we don't understand how show the stock in books and we have 11 cr stock now my query is if I show stock through purchase so came loss in my books pl reply which is the way to book stock and don't book loss

Dear All,

A friend of mine sold a property in July 2016 and had a long term gains of Rs. 7 Lacs (after applying indexation provisions) & he purchased another property on the same date for Rs. 9.00 Lacs in the name of his wife, she is a housewife.
Now please answer Whether he can claim the exemption for property purchased in the name of his wife ??

It is mandatory in itr 4s to show purchase , opening stock , closing stock , cash balance, bank balance ?

Dear Experts

I have a dout so need your help

I have completed B.com, 1'm working in one company as accountant and also free time I'm trading in equity cash , now i m planning to open one website and give call to customer and I m plan collect 5000 per month from them. if i do this compulsory need licence or can show this in income tax as commission from income from other tax head? please rectify my above issue

Regards

Dear experts I need your valuable advice that can any single partner in partnership firm keep the authority to add a new partner or expelled existing partner. If yes then how can he do.

Sir.

Facts,

ABC Nidhi Limited incorporated in 30/01/2016

CBA Nidhi Limited incorporated in 09/05/2016

Required

What is due dates for filing applicable returns in both the above cases
When Statutory Audit to done
When to appoint the auditor


Thanks in advance

I availed a loan of Rs.4.50 lacs against FDR of Rs.5.00 lacs in Feb, 2014 to make final payment of about Rs.6.00 lacs towards purchase of a flat in Greater NOIDA. The flat was sold in in Nov, 2014 for Rs.39.00 lacs, but the loan was not adjusted, as Rs.33.00 lacs was reinvested in booking of Studio Appt in Greater NOIDA itself and remaining funds were used in renovation of my house. Investment in Studio Appt generated income of Rs.3.72 lacs in FY 2015-16 along with interest income of Rs.0.62 lacs on FDR, while I paid interest of Rs.0.55 lacs on FDR loan. Please advise, whether loan interest of Rs.0.55 lacs can be deducted from,

i) Interest income of Rs.0.62 lacs, as interest expenditure was incurred to save the interest income.
ii) Income of Rs.3.72 lacs, generated from investment as the loan proceeds were invested therein.

interest accrue on nsc (except year of maturity) which is automatically reinvested and qualify for deduction u/s 80c is cover under total limit of section 80cce i.e.150000 or not? for e.g.if an assessee has an accrued interest of rs.880 in 2nd year off invesment in nsc and he has also other investment in that year amounts to rs.150000 which qualify for deduction u/s 80c. will he able claim deduction of rs.150880(150000+880) or not?

if I would buy stamps for house in advance and will do registration of house with government department in April 2017 then can I claim expenses to buy stamps under repayment of housing loan & stamp duty for fy 2016-17.

Has section 71 of companies act 2013 regarding debentures notified ? Or we have to learn section 117b or C of companies act 1956