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can a parent / co-borrower of a minor student claim IT exemption on the interest paid towards education loan?

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I require small clarification

1)when there is a capital reserve in the balance sheet it entity may be desired to take any capital asset

Then accounting treatment for that is

asset a/c dr
to bank

and any accounting treatment for capital reserve

2)when the reserve is utilised for any purpose thing is that Ivestment is made in an entity

What will be the accounting treatment for reserve

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I wanted to know whether E-filing is Compulsory for Audit cases U/s 44AB.

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Hi,

In case of the miner (below 18 year) received rent on building, (below Rs.8 Lakhs) whether which is clubed with parents Rental Income on Service Tax Act (which may exceed Rs.8 lakhs)

whether Service tax on Rent to be collected by miner?

Kindly clarify

With regards,
Kannan

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can anyone tell me that There is any provision for this case:

CASE

Due to Fault of the Firm, the Final attempt of the any Article get postponed to the next attempt(means Article can appear in May Attempt but Due to the Fault of Firm His/Her attempt got delayed and He/She can only appear in next attempt( November) then whats the Provision and announcement related that case.



Thanx in Advance

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As per depreciation chart I can claim 80% depreciation on windmill(Renewed energy device).

Can I claim additional 20% depreciation as per Section 32

(iia) in the case of any new machinery or plant (other than ships and aircraft), which has been acquired and installed after the 31st day of March, 2005, by an assessee engaged in the business of manufacture or production of any article or thing, a further sum equal to twenty per cent of the actual cost of such machinery or plant shall be allowed as deduction under clause (ii) :

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How Discount will be treated for the purpose of transaction value calculation.... any one can explain me the same??

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What is the tax rate for corporates for AY 2001-02.

Confirm is it 35% and SC of 13%

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Dear All,
i m in Service providing Co. & Co. raising the invoices with Service Tax @12.36 without bifurcation of Basic S.T. , 2% Ed. Cess & 1% Higher Ed. Cess.
I want to know whether it is overruled invoices
Further i want to know it is compulsory to avail the credit from 12% receivable can adjust for credit of 12% payable & from 2% ,1% receivable can adjust for credit of 2% ,1%

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how many hours we need to study daily for CPA?
and how many months it takes for preparation?(assume for an average student)

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please let me know that which one has most demanded either CA or CPA.

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I AM A CHARTERED ACCOOUNTANT IN INDIA I AM SELECTED FOR MNC IN RELIANCE IN JAMNAGAR REFINERIES I WANT TO KNOW WHICH WORK I HAVE TO DO IN ACCOUNTS OR AUDIT DEPARTMENT MEANS USUALLY WHAT WORK AS CA WE HAVE TO DO IN MNC AND I DONOT KNOW SAP SO IS IT OKAY OR HOW SHOULD I LEARN SAP AND IS THERE ANY WAY TO LEARN SAP ONLINE ?
I ALSO WANT TO KNOW HOW SAP IS DIFFERENT FROM TALLY ?
I HAVE TO TA
KE POSING IN JOB AFTER 20 DAYS..
SO PLEASE GUIDE ME..

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Form 27A says it is meant for -

Furnishing information with the statement of deduction/collection of tax at source



Form 27B says it is meant for -

Furnishing information with the statement of collection of tax at source



My question is -

Which Form to be used for collection of tax at source?


Thanks.

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An employee who paid by cash in excess of 20000/- against one single invoice, to any hotel as lodging expenses, and he gets the same reimbursed from his employer, will that expenses get disallowed under Sec 40(A)(3).

Please clarify more clearly.

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I Want To Just Opine On Answer Given By CA Ramesh Ahuja To The Question Of 80-c Deduction For Investment In RD.
As Far As Mumbai is concerned The Income Tax Department Does Not Allow The Deduction and in My Opinion Even there is no specific Provision in the law For Deduction of the same.

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hi
this relates to loan given by a private limited company to another private limited company.in my query there are there are three private limited companies ; A,B.C

'A' COMPANY HOLDS MORE THAN 10% SHARES IN SHARE CAPITAL OF B COMPANY.

'A' COMPANY ALSO HOLD MORE THAN 205 SHARE IN THE SHARE CAPITAL OF 'C' COMPANY .

'B' COMPANY GIVES THE LOAN TO 'C' COMPANY.

PL GUIDE WHETHER LOAN GIVEN BY 'B' COMPANY TO 'C' COMPANY WILL BE TREATED A DEEMDED DIVIDEND U/S 2(22)(e)of the income tax.


my doubt is about the word 'HE' in the latter part of section 2(22)(e) in the following para

" or to any concern in which such shareholder is a member or a partner and in which 'HE' has a substantial interest ( hereafter in this clause referred to as the said concern,

in the above, the word is 'HE' it means section 2(22)(e) may be applicable where in other concern, only individual has the substantial interrest either as sharehodler or partner.

pl advise me at your earliest.
regards
anand agrawal

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Anyone please explain in simple words WITH EXAMPLE as to when Forms E1 and E2 are be used under CST Act.



Thanks

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Hello Friends
I want to know the accounting of tools and dyes that whether they are to be treated as Fixed assets or consumabels and what treatment they are to be given in accounts

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A company for its expansion purpose inagurates its branch (Manufacturing Unit) in the mid F.Y. 07-08 in other state, where the company incurs all the revenue expenses (viz. Car Expenses, Electric Charges, Flat Rent, General Exp., Staff Welafre, Postage & Stamp, Printing & Stationery, Professional Fees, Telephone & Traveling Expenses) and till the F.Y. 2007-08 production is also not started. All the abovementioned Expenses are directly attributable to such Branch, Can these expenses be Capitalised and added to the cost of the Project?

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What is the max penalty for not depositing the S.Tax collected.

If anybody collect the service tax and do not deposit it with the department. What would be the maximum penalty or punishment.

Arvind Aggarwal

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