Here is Portfolio page of Utkarsh, with all his work

...Hello An individual Is a director of a company and drawing salary of Rs. 180000 pm . From that he is paying rent of Rs. 60000 for his house rent and claim deduction under HRA. He is also running a business and turnover from business is approx 5 crores. He has got TAN Number under that and paying TDS to govt for business expenses like payment to contractors , interest on loan etc. My query is : 1. Is he suppose to deduct TDS on rental payment @10% pm or 5% pm which Is personal expense and paid out of salary income and not entered in business expenses. 2. Do we need to mention anything about salary income in tax audit report and balance sheet need to be prepared for combined income or just business income.

Jan. 25, 2018
What are the things to be kept in mind while determining the consideration for a contract? In other words, what are the constituents of a consideration?
Dec. 15, 2017
Hi, I am a resident Indian trader from Mumbai. I have a couple of questions regarding my sale of 1 BHK flat from a registered society.

1.. Out of the sale proceeds of the flat, can we invest in land and claim deduction?

2.. I have held the flat for 2 years, am I eligible for exemption from long term capital gains if I do not invest this money anywhere else?

3. Can the sale proceeds come through cash?

4. The agreement value of flat is Rs. 31 Lakhs while the actual deal was made for Rs 38 lakhs, how do I receive the remaining amount? At what value should I pay taxes?

5.. Will this sale constitute my annual income?

6) By when should I buy/invest into a new property after selling my property to claim deduction?
Jan. 09, 2018
A company wants to buy out our partnership firm, acquiring all our assets and liabilities including additional goodwill of Rs. 100000. And the consideration to be paid with 30000 equity shares of the company of Rs. 10 at Rs 2 per share as premium and rest amount as cash. Total asset acquired was Rs. 410000 and Liabilities taken over was 80000.
how much cash will our firm receive?

Dec. 15, 2017
An Individual has made a gain from Debt Fund for Rs.100,000 and loss from Equity Oriented Mutual Fund for Rs.30,000. Can he set off the loss?
Jul. 28, 2015
What is the time limit for taking ITC?
Dec. 15, 2017
My parents will be receiving the Land compensation the land which is in rural area from High court on behalf of Govt of MP. I am receiving that money as a gift from my parents. Can I get this money as a gift. Is there any tax applicable to my father or myself. if I will receiving the Land compensation money from my parents ?
Jan. 09, 2018
What are the Rights of Dissenting Shareholders?
Jul. 28, 2015
....THE "A" ASSESSEE HAVING TWO SON VIZ "B" AND "C" THE "B" IS STEB CHILD OF "A" THE "C"IS ADAPTED CHILD OF "A" "B" AND "C" RECEIVED GIFT OF RS.1 LAC IS FROM THEIR FATHER "A" THE QUESTION IS TAX ABILITY OF GIFT RECEIVED BY "B" AND "C"FROM THEIR FATHER "A" THE WORD BLOOD RELATION WILL APPLICABLE TO THE SONS OR NOT

May. 29, 2018
Mohan Enterprises has two registered business verticals in Delhi. Its aggregate turnover for the preceding year for both the business verticals was ` 70 lakh. It wishes to pay tax under composition levy for one of the vertical in the current year while under normal levy for other vertical. You are required to advice Mohan Enterpises whether he can do so?
Dec. 18, 2017

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