A bought a flat a decade ago. Less than three years ago, he gifted it to his two sons in equal shares through a registered gift deed. Stamp duty was paid on the prevailing market value. Now sons want to sell it. What would be the value to compute capital gains tax? The price at which the father had purchased or the market price at the time of gift deed as reflected in the registered gift instrument?

A gifted his residential flat in urban area to his sons B&C. Now B&C want to sell it. On what amount capital gains tax will be paid? The amount on which tax registration fee was paid? or The cost of purchase by A? Would inflationary deductions be available in both scenarios?

A has two sons & one daughter. He lost his wife long time ago. A transferred his residential house to his sons B&C, by a registered gift deed. Now A has asked B&C to sell the house and distribute the sale proceeds in four equal shares. My questions are: 1. Can B&C receive sale consideration in 4 equal shares? 2. If not, then B&C will pay the above stated shares to A & Daughter. In such a situation, who would pay capital gains tax?

I will be appearing for CA Final in May 2018. I have not taken any study materials from institute till now as they have told me that there will be changes in syllabus. So kindly suggest the best possible way of starting my preparation for the exams.

Hello everyone, I am not able to decide whether I should give both groups of CA final or single groups.(Nov.-17) I have cs final exams in June. I am done with coaching of FR(which I don't remember anything of), sfm and idt. I will take DT classes in June. Done with audit and 50-60% of AMA. I know I'll pass if I give both groups but I don't want to just pass, I want the knowledge. so the query is, will this be a consideration during placements? Thanks in advance

I a, going to sell a ancestral plot of land which was purchased by my father long ago for a consideration of about 5000/- The sale price would be about 50.00 lac. What are the ways and schemes which can minimize capital gain tax on the same..

I am an automobile dealer (First Stage Dealer)Registered in VAT but not registered in excise. 70% of our goods are received from manufacturer plant in SEZ (Enjoying excise tax holiday, that I suppose is going to end with GST).I have Excise Invoice for remaining 30% of my stock (not from SEZ) and 0% Excise duty Invoice for 70% stock(from SEZ). I am eligible for full excise credit for 30% of the Excise Invoice stock. Now my question is whether i would be eligible for deemed credit of @40% for closing stock from SEZ plant in GST.

Dear sir,

Since the exemption limit under GST is 20 lakhs for other than north east states. Is there any requirement for small scale concern having aggregate turnover less threshold limit to be registered under GST. After registration is there any returns to be filed for declaration of turnover stating turnover less than 20 lakhs.

Hi Everyone,

I have made a FD off Rs.5,00,000 @10% for 5 Years(Maturity April 2021) in April 2016. Now I have to fill my Income tax return.

Shall i show in ITR of this Accrued interest in this AY 2017-2018 or Shall i show at the time of Maturity

Please clarify

Advance Thanks

Sir,

A pvt limited company receives service of manpower supply from a partnership firm. In this case reverse charge mechanism will apply i.e 100% service tax liability will be of Service receiver.
My question is what will be the provisions of cenvat credit in the case of reverse charge in the hands of company.