Due to change in ITR many chartered are following practice to disclose interest on housing Loan, Mediclaim,LIC etc... as an expenditure in P/L. When the theatment of these items are diffrent in computation then how its possible?

Friends,
With Section 80 P gone for co operative banks; whether the co-operative credit societies; which are registered with the department of co-operation only and not with the RBI under the Banking Regulation Act; would also be required to pay the Income Tax on the profit they earn.
If yes, apart from the regular deductions; which special deductions can be claimed in respect of such co-operative credit societies?
If, the tax is to be paid, since, most of the co-operative credit societies have finalised their accounts and declared dividends without making any adjustments for payment of tax; where to adjust such tax payment for the F.Y. 2006-2007 since there would be no provision for payment of Income Tax in the audited accounts of such societies.
Urgent reply is expected.
Thanks,

Mahesh

Above section say that in th case of partner of a firm, his share in the total income of the firm shall be exempt from tax.

1. Whether total income of firm means income before tax or after making the provision of tax.

Total income of firm X partner's share in profit/ Total profit of the firm

It is no where stated abt the definition of total income for this purpose

2. if above is after tax, how will we provide for tax If we are maintaning books of accounts on cash basis

advice me ..what is the time limit allowed u/s 200(1)to remitt the tax deducted at source to the government during the current previous year...???

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would he get his refund of Rs.2000??

Hi
please tell me what is section 234B and 234B when and how its implement.

Please let me know whether teaching is a profession under income tax act,

Is it necessary to deduct tax on amount paid to visiting professors or teachers engaged in part time teaching. which section is applicable whether 194 J

Please let me know whether teaching is a profession under income tax act,

Is it necessary to deduct tax on amount paid to visiting professors or teachers engaged in part time teaching. which section is applicable whether 194 J

I stay and work at Pune & pay rent to my parents. Now I want buy a house at Satara or Kolhapur.
The query is -
Whether I can get both (1) the HRA exemption and (2) Interest on loan (as loss under income from House property) in my return for AY 08-09?

please give your advice and also spcify the provision under Income Tax Act.