an individual salaried person claim deduction u/s 57 & he netting interest income from unsecured loan with Interest expenditure. is it allowable u/s 57. He took loan @11% & gave loan @12%. both from the individuals in the same year. is it legal. please clarify these two points. his total income comprised of salary & other source.

Is a auditor disqualified to be appointed in a subsidiary if his relative is CEO in the holding company?

Respected experts ,kindly suggest me 5-10 sa which would be beneficial for IPCC papers,as I was suffering from dengu from last 1 month,and I have not touched the sa portions. Regards in advance.

what is the effective date to be considered for computing transition phase for the purpose of rotation of auditor. please clarify withone example

with due respect sir, i want 2 say that earlier u have provided us the important question of IT which has really helped a lot...so i request u sir please show us the milestone for success by providing us the important questions of audit..

Dear all, On what basis did they numbered standards on auditing? Any logic behind that? Is there any easy way to remember the entire thing?

Can anyone please advise whether there is a statutory requirement to get the signature on the revenue stamps affixed on cash payments made to staff against salaries etc.If yes, what is the monetary limit for the payment which reqiures affixing of revenue stamp.

Thanks,

P.C. Joshi

Firm collecting money on behalf of his bike customers and paying to the bike supplier without any sales or purchase bills respectively and only collecting money on behalf of his principal .. no vat tax etc collected or paid and directly transfer and bills to his customer .. which amount is to be taken for turnover .. whether the difference between money collected and paid or to be shown as direct sale or purchases in his books ... and penalty u/s 271 B applicability on which amount .. whether gross receipt of amount or the difference ?

under caro 2015, turnover limit was calculated by: 1. deducting trade discounts 2. sales tax/ excise duty shud be deducted 3. sales return should be deducted 4. commission to 3rd party shud not be deducted now whether under caro 2016, the same criteria will apply for the calculation of turnover??

SIR

PLEASE LET ME KNOW THE DIFF. BETWEEN PARTNERSHIP FIRM & LLP