Mihir Doshi's Expert Profile

Queries Replied : 393

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Kshitij says : Stat Audit - Conversion into Revised SCH VI (6)
I have a question Suppose there is an Insurance Company which a subsidiary of another company (Holding Company - take for example a listed company) then how do we convert the Financials of Insurance Company which are prepared as per IRDA requirement into Revised Schedule VI for the purpose of Consolidation with Holding Company Ex.Tata AIA Life Financials are presented in format prescribed in PART V of Schedule A of IRDA Regulation, 2002 and Tata Sons as per Companies act in Revised Schedule VI format... I would be really Glad if you can help me out with it..

UNNATI BHOJAK says : income tax query
thank u for answer... but what would be tax treatment in the hands of the son who receives Rs.700000 as a share from sale consideration? whether any cap gain to be payable by him??

Saurabh MIshra says : Filling Return of assessment 11-12
Dear, like i m filling e-return they got 504716/- on death of his son and he deposited as fd of his spouse and child's so is it possible to sow the income and it can be non taxable income.... Saurabh MIshra

C.A Manish Arya says : Query regarding Financial Control
Dear Sir...! I have a Query .A Group of Six Sister concerns which transact with each other quite Oftenly viz they incurr expenditure on each other's behalf and recieve income on other's behalf as well..... Though they are separate Legal as well as Tax entity.... Now considering the Effects of the transactions I.T Dept has been treating the exp. so incurred on any other concern's Behalf "A Loan & Advance item" for the purpose of taxability and no allowance has been given for that... Now the Management of all of the co. want to introduce a system for Better Financial Control and they can better plan their tax as well as better Accounting control.. So As per you ...What kind of System shall be introduced in Accounting for such Exp. which can solve their Problem.....