Dear Sir, In partnership accounts previous year loss not adjusted with partners capital accounts so i carry forward to the current year . in current year also firm incurred loss, can to adjust total loss of previous year and current year with partners capital accounts

Dear Sir,

My proprietory firm total gross turnover is Rs.4515960.00 and my PPF interest for A.Y. 2014-2015 is 47889.00.My gross turnover is less than Rs.10000000/-.
Sir, which form should I use to file my return for A.Y.2014-2015.
I can used Section 44AD ( 8% of Gross turnover)

I have invested around 14,00,000 in my capital gains account. Recently i have purchased land for house construction for five lakhs . Due to urgency i have paid the money in cash. I would like to have expert advise on the following queries
1)Can i show the purchase of land and withdraw the amount incurred for purchase from my capital gains account.
2)The bank maintains that any amount greater than 25,000 can be withdrawn from CGA thru DD only. Can I take DD for that amount in my name from CGA and transfer to my savings account.
3) I have incurred additional expense as documentation charges, brokerage, registration charges etc. how can i show these expenses from CGA.
4) I am planning to construct a house, the construction which my father is panning to supervise by employing labor and material supply . I have applied for plan approval. how can i withdraw money in such cases. what are the documents to be given to bank for settling such amount. can i withdraw money as DD in my name or in my fathers name for such purposes.

Expert advise is requested as I am confused and finding it difficult to utilise money from my CGA.

The amount of Rs 5,00,000 is mentioned in the registration document.

I request the experts to give me advise/reply in a descriptive manner for the above mentioned points 1 to 4 which will help me resovlve the issue.

Regards

Sudhakar

A director has been appointed in EGM. The resolution in EGM says - The term of office will be decided by the Board from time to time.

There is no board resolution talking about the tenure of the director so appointed.

Should above Director retire every year or should one consider him to be permanent director ?

Kindly quote section numbers wherever possible.

I had recd. notice from st for disallowance of input tax credit for company as hawala dealer. Vendor whom I used to buy goods had valid vat tin. Vendorgot his vat tin cancelled but still continued to do business with everyone. Now, he has been declared as hawala dealer & we have got in to trouble for all the goods procured after his cancellation date. As purchaser how can i do audit of the vendor for every invoice whether his regn. is active or cancelled.

I have heard that this is just start now IT will also come and ask for disallowance + interest & penalty. Is there any way where I can avoid this.

1) A Director has been appointed as Director by passing resolution in Extra ordinary General Meeting. Should one consider him as Director or additional Director ?



2) Can a company appoint additional directors through EGM?

Is it necessary to give numbers to Board resolutions passed in private company. If yes, why it is necessary?

One clause of AOA as " The number of Directors of the company shall not be less than two and not more than twelve and shall not be liable to retire by rotation"



Next clause of AOA reads as " Subject to provisions of Section 260,262 and 264 and 284 (6) of the Act, the board shall have the power to appoint a Director to fill casual vacancy or as addition to the Board. Any Director so appointed shall hold office only till next AGM."


Question : From above clauses can one interpret that All Directors are permanent directors except casual and additional directors?

Dear experts

A person having one time professional receipts of Rs.3,00,000 on which tds u/s 194J is deducted i.e. Rs.30,000. He has some expenses in rendering that service amounting Rs.2,50,000.
The net income being Rs.50,000.
He has salary income also of Rs.8,00,000

My query is : can he claim Rs.50,000 as other income and file ITR1
Or
He has to show Rs.50,000 as professional income and file ITR4

Note: Profession is not covered under specified profession.

Please give your valuable feedback.

Thanks
Rachit

how many days leave can an article take on medical ground....an article can take 180 days leave does it include medical leave ..