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Should the law exist to protect us from ourselves?


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What are your views on the franchising of legal aid firms?

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There are three partners in a partnership firm. The firm has office premises in the name of firm. Depreciation on this asset is charged every in the books of the firm. Now after depreciation the book value of this assets has become Rs. 1000. Whereas the market vakue of this premises id Rs. 10 crorer. To bring this property at MV the partners revalued this premised at Rs. 8 crorers in the books of the firm and accordingly credited partner's capital account in their profit sharing ratio. My questions are as under. What is the income tax liability of the firm on revaluation? What is the income tax liability of partner of each partner on revaluation and credit to his capital account. In future whether depreciation to the firm is allowed on revalued amount under the income tax act. What happens to the tax liability if one partner withdraw his entire capital from the firm which includes credit on revaluation of office premises? When partners can withdraw out of their credit balance in their capital account without attracting any tax liability either by the firm or by partner? What happens if one partner retires and he gets amount equal to his capital account which inclides credit on account of revaluation? is there any tax liability to the retiring partner?

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Hi I am Paranita, I am holding H1B visa from 15-Jan-2012 and valid for next 3 years. I have applied the visa through my a MNC from india and they commited to send me with in few days after visa approved but it is already 6 months still nothing has been materialised and no idea when there will be any USA travel processing. My question, is it advisable to leave the company and change a new one in india, and again whether the visa will valid if i will change the company and in future if i will get any project to work from USA with this visa.

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what is the procedure for changes in director's details of company ??.is form 32 appropriate for that .??

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If a baby in shopping centre was strapped with a bomb, would you shoot the baby to save 1 person? 100 people?

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