vamshikrishna
This Query has 4 replies

This Query has 4 replies

Request you to plz provide the coaching institues for Icwai Final in chennai


Vivekag
This Query has 4 replies

This Query has 4 replies

26 May 2007 at 06:09

service tax applicabbilty

At present, Service tax is not applicable in J&K State.

A NSE Member which maintain centrilised biling system from Delhi (Registered Office).

Their some clients trades from J & K (put orders from there)is service tax applicable on brokerage of their trades ?


Taroon Sharda
This Query has 2 replies

This Query has 2 replies

26 May 2007 at 02:44

DEDUCTION U/S 24 - INT. ON LOAN

Dear sir/madam, pls. clarify that can i claim deduction u/s 24 to purchase a plot of land in a residential area on which construction is to be done later on? Secondly is possession complusory to claim the deduction? moreover if bank issues the certificate u/s 24 then whther i have to fullfill the above clauses or not? Sir pls. clarify it in detail as my employer is not accepting the certificate issued from bank on the ground that possession is complusory.


Sudhir Gupta
This Query has 1 replies

This Query has 1 replies

Can Indian Nationals form company out side India. Does it require any permission from any Govt department or agency. Investment would be with in the permissible limit of remitting funds abroad applicable to individual.


makarand
This Query has 4 replies

This Query has 4 replies

26 May 2007 at 02:02

articleship

I am pe-2 cleared student.I cleared my pe-2 on nov.2006. I want name & address of C.A. who required article clerks in mumbai at central line of railway


Rajendra Rohit
This Query has 3 replies

This Query has 3 replies

A. Please Explain Procedure of ARE-1 for Supply form DTA Manufacturer to SEZ Unit --- How Much Copy of ARE-1 prepared --- Which Copy to submitted to whom --- How much Copy send with Material to SEZ Unit & what is a requirement from Excise authority of sez unit & suppliers also.........


Rajendra Rohit
This Query has 5 replies

This Query has 5 replies

25 May 2007 at 23:58

Special Economic Zone

A. Please Explain Procedure of ARE-1 for Supply form DTA Manufacturer to SEZ Unit
--- How Much Copy of ARE-1 prepared
--- Which Copy to submitted to whom
--- How much Copy send with Material to SEZ Unit


ratnesh mishra
This Query has 2 replies

This Query has 2 replies

25 May 2007 at 22:02

tasks

sir,
i am a student appearing for cpt. How we will come to know who is the best ca across indore who has more work and can pay a good amt for articleship.


Ashok Malhotra
This Query has 5 replies

This Query has 5 replies

Dear Sir,
Here are my queries. I would request you to respond as per your convenience
Income Tax query for the Assessment year 2007-08

Query #1
As to whether property in Mutual fund inherited on the death of my mother is taxable in my hand during the month of April/May 2007?
Query #2
As to whether the amount gifted by me to my wife and son will be taxed in there hands separately, if the transfer of money is on irrevocable basis?
Query #3
Whether provisions of sections 60 to 64 are applicable or not?
Facts of the case:

I am the only successor of my parents. My father expired in 1976 and my mother died in Jan 2004. She had invested in Mutual Funds (Debt Scheme) and in saving bank long back. The sum total of investment at today’s NAV was over Rupees ten lakhs. The investments in Mutual Fund were made by her in the year 2000-01, 2001-02 and 2002-03. The accretion in bank balance was less than Rs. one lakh till 2007.Total investment made by her was to the tune of over Rs. ten lakhs.

Based on her death certificate as well as survivorship certificate, the Mutual Funds redeemed the units in my favour and the fund was received in my bank account at the latest NAVs. I gifted the whole redeemed amount to my wife and only son. Incidentally my son is no more a minor. He is 20 years of age. They have now invested the funds in various Mutual Funds.
As per my understanding the provisions of section 56(2) of the Income Tax Act 1961 are not applicable. The receipt of money without consideration by a relative is outside the scope of the section. I am the lineal descendant of my mother and received the redeemed amount by way of inheritance.
Likewise I have gifted the whole of redeemed amount to my wife and son. All the earning henceforth from the investment shall taxed in the hands of wife and son.

Thanking you,
Regards
Ashok


CA Ankur Jain
This Query has 3 replies

This Query has 3 replies

24 May 2007 at 08:26

CA and CFA of ICFAI

I'm a Chartered account and wanted to pursue for MS finance of ICFAI. Actually i'm not aware whether i can do that cos there was a notification according to which a CA can't do CFA of ICFAI. Please help me for it ASAP.