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Please Clarify

Prasanth Nair V (ACA,ACS,CWA Final,Mcom) (557 Points)

27 April 2010

My articleship gets over by March 2011, and therefore iam eligible for MAY 2011 attempt for Final.

But iam planning to give my exams in Nov 2011. So will it be my Second or First Attempt???

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18 Replies

Kaushik Vankadkar (Service) (350 Points)
Replied 27 April 2010

First Attempt

1 Like

Dhruva Hegde (Chartered Accountant) (230 Points)
Replied 27 April 2010

It will be second attempt because attempts counts when u get the eligibility to appear the exams..... So try to take in may 2011 only all the best ..........

1 Like

Dushyant Sharma (student) (50 Points)
Replied 27 April 2010

it is ur second attempt

1 Like

(Guest)

it will be ur second attempt

CA HARPREET SINGH (Job) (317 Points)
Replied 27 April 2010

IT WILL BE YOUR SECOND ATTEMPT..........BUT IF YOU SAY YOUR CA THAT HE SHOUL SHOW SOME MORE LEAVES IN THE BOOKS & COMPLETE YOUR ARTICLESHIP IN APRIL LAST WEEK OR MAY FIRST WEEK OF 2011......THEN NOV 2011 WILL BE COUNTED AS FIRST ATTEMPT.....

BY THE WAY WHY YOU ARE NOT INERESTING IN GIVING MAY 2011.....MY ATTEMPT IS ALSO 2011 CA FINAL & I WILL WRITE BOTH GROUPS IN MAY 2011..& MAINE ABHI TAK TAYARI BHI START NAHI KI HAI....

Dushyant Sharma (student) (50 Points)
Replied 27 April 2010

nahi ke to karo

(Guest)

I think attempts are not counted till u give the exams na!!! I AM CONFUSED..HOW CAN U TAKE 2ND ATTEMPT BEFORE APPEARING EVEN ONCE?????????????

Nitin Grover (CS) (1228 Points)
Replied 27 April 2010

Dear

Big companies always ask for First Attempt in first Sitting

means First Attempt when its originally due

so it wont be first if u leave

Regards

G.RAJIV KRISHNAN (TAX ACCOUNTANT) (21 Points)
Replied 27 April 2010

I have a query pertaining to Interest on Housing Loan eligible for deduction u/s 24. If an assessee does not claim deduction of pre-construction period interest (in 5 equal instalments) owing to the reason that interest paid on EMI exceeds the max. limit of Rs.150,000 in the first 3 Financial years starting from the Financial Year in which he gets possession of the property. Now if he wants to claim the interest in the 4th & 5th year. What will be the eligible amount?

Eg: Preconstruction period interest-Rs.100,000

Eligible amount - Rs.50000 (for 4th & 5th year each-100000 / 2) OR Rs.40000 (for 4th & 5th year each- (100000 / 5 *2)

CA Ravi Sisodia (CA,CS,CMA) (32226 Points)
Replied 27 April 2010

it is your second attempt

CA-CWA RAVI (CA-CWA in industry) (5464 Points)
Replied 27 April 2010

second attempt dude

vikash rathi (Chartered Accountant) (787 Points)
Replied 28 April 2010

second attempt dude..........

CA Ruskin B (Member) (2602 Points)
Replied 28 April 2010

It will be your first attempt.

It could be interpreted differently., but not attempting, and attempting and failing are entirely different ., that too only for your first chance due.

Nitin Grover (CS) (1228 Points)
Replied 28 April 2010

Dear Mr. Krishnan

As per sSec 24 B the max int u can claim is 1,50,000 in a year if property is using by owner means not given on Rent

and in yiur question u r saying EMI (Equal Monthly installment) is rs above then 150000/- year Dear pls calculate int part sepreatly because Int is allowed u/s 24 B and Principal is deductible u/s 80 C.

and if Int is also exceed 150,000 and u have claimed it

now in last year if its below 150000 then the int of pre construction ---- u can claim 20,000 in 4th and 5th year because of in first three years u were able to take benefit but not eligible due to of maximum limit. so now u can not enjoy of prior benefits

Thanks and Regards

Nitin Grover