is indexation allowed on cost of acqusition of shares?.... if yes then it becomes greater than the sale consideration. Mine it was capital loss. was that correct?
CA DT paper
Page no : 3
CA Saurabh
(PRACTICE)
(1019 Points)
Replied 15 November 2015
cost of acq is to be considered at rs 150000 nt 600000.. thats y u end up in capital loss i guess.. cost related to resulting co we shuld consider nt demerged company
Karan Kothari
(CA Job)
(64 Points)
Replied 15 November 2015
Saurabh Transport expense allowed... Transporter gave his pan No
NITI BHATIA
(STUDENT)
(22 Points)
Replied 15 November 2015
the paper was difficult as well as easy...hope for good marking
MAYUR BIYANI
(Assistant Manager-Taxation & Accounts)
(142 Points)
Replied 15 November 2015
Transport exps disallowed u/s 40 a ia...
Given PAN no den allowed but w.e.f 01.06.2015...so that was not applicable to us...hence disallowed
MAYUR BIYANI
(Assistant Manager-Taxation & Accounts)
(142 Points)
Replied 15 November 2015
And regarding fish product...both will be disallowed as only the producer of fish n fish products are eligible to whom payment can be done above 20000 in cash...fishermen n middlemen are not producer as per stated in rule 6dd of rules...
CA Saurabh
(PRACTICE)
(1019 Points)
Replied 15 November 2015
refer circular 10/2008 dted smmwhr in dec 2008.. it clearly states producers includes fishermen.. thus fishermen is out of d purview of d said disallowance
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