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Sriram (CA FINAL) (126 Points)
Replied 14 May 2011

Originally posted by : RAAM SINGHANIA

again  the  valuation  office  dont  have  any  right  to  have  a  right of  civil  court to summon  and  enforce  a  seller  on the  oath  he  can  call for the  information but  dnt  have a  right  a  enforce  him  on  oath and all 

I agree with you here...



(Guest)
Originally posted by : Sriram




Originally posted by : RAAM SINGHANIA






only 15000  alllowed  under  sec  80 d  to  nandita  father  as  he  is  non  resident  not  20000as  allowed  to  indian  sen. cetizen 






Dude I dont think so... Chapter VI-A deduction is available for non-resident..... 80D is available for Nandita

check  it  out  by urself 


Sriram (CA FINAL) (126 Points)
Replied 14 May 2011

Originally posted by : RAAM SINGHANIA




Originally posted by : Sriram









Originally posted by : RAAM SINGHANIA






only 15000  alllowed  under  sec  80 d  to  nandita  father  as  he  is  non  resident  not  20000as  allowed  to  indian  sen. cetizen 






Dude I dont think so... Chapter VI-A deduction is available for non-resident..... 80D is available for Nandita






check  it  out  by urself 

Ufff no not at all... I wont check out now... let us c on monday... If I feel that my answers are getting wrong then my confident in IDT may come down... let us c on monday.... All tha best



(Guest)

q.1.a.   180 lks  

and  its  a  long  term  capital  gain 

and  the  company  can  get  ride  by  purchasing  26 %  shares  even 

then  no tax  liablity 


bhuvan_Agarwal (C.A.) (105 Points)
Replied 14 May 2011

nandita 80D -15000 father as he is not resident


bhuvan_Agarwal (C.A.) (105 Points)
Replied 14 May 2011

nandita 80D -15000 father as he is non- resident.Therefore not a senior citizen.

bhuvan_Agarwal (C.A.) (105 Points)
Replied 14 May 2011

Q.1.A 200 LAKHS REVALUATN TO Be ignored. 40+90+110+35-90=185 (networth) 385-185 =200 lakh
3 Like

bhuvan_Agarwal (C.A.) (105 Points)
Replied 14 May 2011

perk valuatn = 3125000/3120000

CA Shammi Prabhakar (Managing Director) (2076 Points)
Replied 14 May 2011



(Guest)
Originally posted by : bhuvan
nandita
80D -15000 father as he is non- resident.Therefore not a senior citizen.

agree  on that 




(Guest)
Originally posted by : bhuvan
Q.1.A
200 LAKHS
REVALUATN TO Be ignored.
40+90+110+35-90=185 (networth)
385-185 =200 lakh

wrong  180  lks  is the  answer  and the  company can  get off  by  purchasing  26% shares  even  so this  dnt  get  as  transfer  for capital gain purpose 

1 Like

bhuvan_Agarwal (C.A.) (105 Points)
Replied 14 May 2011

Hw 180 LKS? HW U vl Compute?

CA Fojan (Service) (36 Points)
Replied 14 May 2011

agree 200 is the ans

but wat abt settlement commision and also sec 37 A 5A of wealth tax ????


bhuvan_Agarwal (C.A.) (105 Points)
Replied 14 May 2011

26% - agree on that.


bhuvan_Agarwal (C.A.) (105 Points)
Replied 14 May 2011

SC case of OM prakash mittal.


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