If house property is in joint name (assuming there are two joint holder Mr. A and Mr. B , share 1:1), and Mr. A is paying entire interest from his pocket, then can he claim 100% of interest paid u/s 24(b) of Income Tax Act, 1961 even if his share in house property if restricted to 50%?

Hi,

Is it possible to treat in books of account the director's personal expenditure as repayment of directors loan.

Thanks in advance.

What is the procedure to withdraw the amount deposited in CGAS FDR?

As per Income Tax Act, Section 40A(3) we cannot make a cash payment to a person exceeding 20,000 Rs. for an expense. If for two different expenses on the same day cash payment is made to the same party for two different expense heads each of them not exceeding 20,000 but total exceeding 20,000. Will it be disallowed?

where any company is paying money to fulfill its csr obligations just. It is not getting any advertisement benefit from that, then whether tds will be required to be deducted in such case or not? If yes, under which section?

A ltd has provided bonus expenditure of Rs. 10 lacs as on 31.3.13 and is payable as on 31.3.13. A ltd is covered u/s 92E under specified transactions and therefore the due date u/s139(1) of filing of return is 30.11.13. The return of income for AY 2013.14 is filed on 6.9.13 after disallowing the bonus provision of Rs. 10 lacs. The bonus will be paid by A ltd on 25.10.13 and will be claimed as allowable expenditure FOR AY 2014.15 on payment basis as provided in section 43B.

Whether the assessing officer will disallow the said expenditure of bonus for AY 2014.15 on the ground that the expenditure pertains to the Previous Year 2012.13 and should have been claimed for AY 2013.14 as the bonus payment is made before the due date of filing of return u/s 139(1)i.e.30.11.13.

The case law for Nov 13 exams published by ICAI has about 120 case laws. My queryis,
is it necessary to read all 120 from exam point of view?
Is there any important case laws?

kindly clarify me on the same sir.
Thanks in advance.

One of my client has sold 10 year old residential house. There is LTCG also, by applying Cost Inflation Index. He has taken 50% amount in his account & rest in his wife's bank account. Question is:-
(1) Is there any problem in taking amount like this?
(2) What formality he has to fulfill for coming 3 years to claim exemption u/s 54(F) as he wants to invest the same in another residential house. Please advice.

is it mandatory for each and every ca to upload their audit report if assessee come under sec 44ab, having international transactions, sec 115 jb,
?

if it is mandatory from which ay it is applicable?

and what are the conditions to be fulfilled to upload it ??


thanks in advance

the place where im am working had previously not maintained accounts hence no audit was done although they were liable for audit and their returns were filed.After that our assessment was done and the department asked us to pay around 2.99 crores which i feel they were inflated.ON THE ORDER THEY mentioned that due to non deduction of tds so and so expenditures are disallowed.SO MY QUERY IS THAT HOW TO GET OUT OF THIS SITAUTION