CA MANOJ GUPTA's Expert Profile

Queries Replied : 1137

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EoroAsia says : Status of MAT credit of a Pvt. Ltd. Co.
Pls infm us the status of MAT credit of a Pvt. Ltd. Co. changed into a LLP. Rgds euroasia99 gmail com

CA Anjali Kuttikar says : Valuation of assets at market value
Respected sir, I have a query on valuation of assets in case of partnership. The normal practice followed in case of dissolution of partnership is that, the assets are valued at market value. But there is no authoritative statement on this except section 48 of The Partnership Act, 1932 which talks about Mode of settlement of accounts between partners. But this section does not talk about book value of market value. I have a peculiar case, where the partnership has not gone into dissolution as yet but is on the verge of the same. One of the partners contention is that, the book value should be considered, whereas the other partner contends that the market value of the asset should be considered. Can you please guide me on this. Reference of a supreme court case would be really helpful. I tried looking in institutes publications, case laws but could not glean any useful information on this. kindly guide. Thanks in advance.

Kiran says : Taxation on SuperAnnuation Commutation Amount
Dear Manoj, I have a query regarding TDS on super annuation commutation amount, my previous employer says the commutation amount of 33% will be taxed at 30%, as I am not employed in India I have only interest income as I understand the commutation amount should be added to the income in the FY and taxed as per the income tax slab, could you please advise if this is correct or TDS @30% can be deducted by my previous employer ? Regards, Kiran

Partha says : Supannuation Fund Withdrawal
Hi! The company ddtd tax @ three yrs avg. - Is it full & final? or Diff attributable C/yr tax need to be paid? Is Section 89 benifit available? How? Thanks and regards

Sohail says : SEC 44AE
Sir, Can I show my Income As per sec 44ae If I own Heavy goods vehicles and used for self business of Goods carriage? Sec 44ae says about Hiring, leasing or plying of goods carriage.What about those who use thier own vehicles for self business and not hiring business.Thanks in advance........