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CA MANOJ GUPTA's Expert Profile

Queries Replied : 1137

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About me

    What kinds of questions I can and can't answer?
    Direct Taxes Accouting

    My area of expertise
    Direct Taxes, Accounting

    My experience in the area (years):
    15 years

    Organizations I belong to:
    MANOJ HARI GUPTA & ASSOCIATES

    Publications or writing which has appeared :
    MANY

    Educational credentials:
    FCA

    Award & Honors:
    ACTED AS SPEAKER IN CONFERENCES

  • CA Rajiv Poddar says : Fixed Assets treatment upon conversion to LLP
    Dear Sir, We have a case wherein the assesse was a pvt. ltd. co. until 20/3/2011 and subsequently converted it into a LLP. So the LLP was in existenece for FY 10-11 from 21/3 to 31/3. Upon conversion, all the assets and liablities of the co. was transferred to the LLP and all the conditions for such transfer are met and therefore no cap gain is chargeable on such transfer. The query is the company has some fixed assets after dep upto 20/3 at Rs. 325000. Whereas the Tax WDV after charging dep. upto 20/3 is Rs. 275000. (As in the case of amalgamation, we have calculated the total dep available and apportioned it as per the no. of days in which each entity was using the asset). Now, which value of the fixed assets - Co. Act or WDV of IT Act, should we take into account in the books of the LLP, considering that the LLP is not required to charge dep at co's rate. Pls do let me know your opinion. Best Regards CA Rajiv Poddar Kolkata

  • Neelam Soneja says : hello
    Dear Sir, I am CA Student, wating for ma T.Y.Bcom results, Please advice me which cource i should join nw, M.com.LLB.or Cs or any other cource??

  • Gajjala Satheesh says : TDS Penalty
    Sir, We have not paid April & May 2011 TDS. I am going to pay after 25th of June. What will be the % for April & May 2011. Plz help me.

  • Ankush says : Family Trust
    Dear Mr. Manoj, You said that if the trust is created for deferred benefit of Minor, then the incomes earned from trust properties would not be clubbed with parents. But then, will the trust not be charged at Maximum Marginal Rate? Will it get basic exemption limit? If yes, under which section of Income Tax Act. Regards,

  • DAS77 says : u/s 195A
    A foreign salaried person to be paid salary of net tax. The tax will be paid by the company. Please can anyone provide a formula to calculate the same. As per sec.195A,where under an agreement TDS is borne by the person by whom the income is payable ,then for the purposes of tax deduction ,such income shall be increased to such amount as would ,after deduction of tax ,be equal to the net amount payable under such agreement . Therefore ,the Indian Company shall deduct the following Tax deducted at source from the salary paid. Eg.1 Net Taxable Income - Rs. 790524. How do we calculate gross taxable income? Eg.2 Net taxable Income - Rs. 520000. How do we calculate gross taxable income? Eg.3 Net Taxable Income - Rs. 2983000. How do we calculate gross taxable income?


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