pl. solve my under mentioned quey.

if x bought a Building some year before( i.e.,01/07/05) for rs. 100000, he used this building for his self occupied residence, but later dated 01/09/07, he convert this building for business purpose.
then at what amount Depreciation will be calculated ( rate of dep. 10%)

what is the last date for professional tax?

M/S "XYZ" IS A PARTNERSHIP FIRM CARRYING ON BUSINESS FROM ALMOST LAST MORE THAN 20 YEARS, DURING THE FY 1992-93 ASSESSMENT THERE WERE CERTAIN EXPENSES DISALLOWED AND FIRM HAD TO PAY TAXES ON THAT , FIRM PAID TAXES AND ALSO WENT FOR APPEAL AND TRIBUNAL AND FINALLY IN FY 2007-08 THERE WAS DECISION IN OUR FAVOUR SO AMOUNT WAS REFUNDED WITH INTEREST. NOW DURING FY 2007-08 THERE WAS NO OTHER INCOME THAN INTEREST ON INCOME TAX REFUND , WHETHER THE SAME CAN BE SET OFF AGAINST UNABSORBED BUINESS LOSSES OF EARLIER YEARS. AS THERE WAS REFUND ON ACCOUNT OF BUSINESS TRANSACTIONS ONLY.

PLEASE GIVE SUGGESTIONS AND ADVICES

THANKS

I am having a housing loan for Rs. 5 lakhs and the house property is self occupied and I am owner of the property. for the purpose of IT, i am claiming interest on Housing loan and also principal.
i want to include my wife(not a co owner) as co applicant for the loan taken, then only we both can enjoy the benefit of Rs.1.50 lakhs each.

Can it be possible. if possible what to be done.

suppose i jointly own a piece of land with my friend n i tak a loan on my name for constructing a building to be used for commercial purposes.In dis case can my frien also claim 50% of the interest paid on the loan??

Dear friend


would u tell me that rent received from telecommunication company for telephone tower stood on house is covered under income from house property or not?

and standered deduction 30% is allowed on it or not?

Plz give me the solution with particular refrence as soon as possible

Thanks
Ca.Naveen garg
Email:- canaveengarg2008@gmail.com

Suppose the voucher is as follows :-

VOUCHER 1:-

Fees for Professional Service Rs.1000
Conveyance Charges Rs. 100

TOTAL Rs.1100

-----TDS should be deducted on either Rs. 1100 or Rs. 100

x-----x-----x-----x-----x-----x----x---x--x

Now suppose the professional has given two vouchers as follows:-

VOUCHER 1:-

Fees for Professional Service Rs.1000

TOTAL Rs.1000

& VOUCHER 2:-

Conveyance Charges Rs.100
TOTAL Rs.100

----Now on which bill TDS is to be deducted????

Hi Sir / Madam

Our employee has taken housing loan from bank. And the house property is owned by the three persons,viz his brother, his brothers wife & himself. he is paying the full amount of installment from his bank & he want to get benefit of home loan against income tax. Can he get full benefit of home loan or as he is a co-owner, on that behalf he is getting benefit of his share only?

Regards
Anil

Can Anyone Tell me What Can Be the Residential Status Of A person Who has Died During Financial Year ,& was alive for even Less than 62 Days? & many a times Preceeding Previous years he also Had NR as his Residential Status

If a car is hired from a car agency on a regular basis for a month and also log book is maintained for the usage of car, then what kind of TDS will be deducted :--

1). TDS for 194-I, as it is in the nature of rent agreement for hire of car?

OR

2). TDS for 194-C, as it is a contract for hiring of car?