hello everyone
if a home loan is taken by the employee from its employer bank and int charged to employee is less than charged to any normal a customer of the bank.
1)rebate in int is to be treated as perk in the hand of employee.is it correct.
2)whether he can claim the deduction for int on loan. he has acquired home with the amt of loan but till date has not paid any installment for the same.amt of int is accruing in his loan account..
pl. suggest
thanks in advance

Hi,

Please let me know if a business is shutting down temporarily & its assets are not in use for the time being (approx. 8-12 months).

1)Can we provide depreciation on that assets in the books?

2) can we claim depreciation as an expenses while calculting business income for Income Tax purpose?

----Ankit Doshi

Hi friends,

Please clarify whether FBT is applicable in the following case:

If a company reimburses conveyance expenses incurred by the employee exclusively in relation to work of the client, and later on company gets reimbursement from the client, whether such "out of pocket expenses" are liable to FBT under the head " Conveyance"?

Thanks & regards
SRAVANI P

We are manufacrurer cum trader in hydraulic equipments and also provide some technical, repairs, training services etc. taxable service.

As a company assessee, we have to pay service tax on outward freight.

We are taking service tax credit on all the invoices whether it is for production or sales.

Can we utilise such credit against the payment of service tax on GTA for outward freight?

Hi,

In case of Investment in a PPF account, I wanted to know if the amount deposited after the intial investment can be less then the intial investment. Also wanted to know wether if the deopsit can be one time or what is the minimun years of investment required. (For ex: 1st year if 60000 is invested is it possible to invest 50000 in the second year and can the inevstment be only for 5 intial years)

My father wants to give me a housing loan by cheque with a interest @ 10 % P.A.

Can I get the deuction under salary head by section 80 C and section 24 of IT act.

I just complete my 15 month of articalship without any leave.At the period of articalship I only doing filedman work 'Like a Pagal'. My CA never given any type of work which related my trainig. Iwas there only one Artical.About all this Icould not lost my temple but at the time completing 15 month I gave him an application for taking leave for of PCC. He never give ne any leave for my preparation of PCC.

What can I do?

I had applied for TAN through internet and filled the form 49B and also made the payment through credit card.

But could not get the copy of acknowledgment with which other documents to be submitted manually because of internet disconnection in between.

My query is will I have to pay again or I can get the same filled form from any sources.

Please tell me its urgent.

Say I receive HRA amount of Rs. 1,50,000/- p.m.and with basic of Rs.300,000/-p.m. The rent paid is Rs. 1,25,000/- p.m.

Do maintain a Guest-cum-office room at the residence in Metro. Do I get some admissibility for furnishing this room or maintaining it, from the point of view deductions under the relevant setin applicable for Income Tax payment

I have taken a personal loan through a private bank during this year and i have invested in the shares & securities through a regular franchise and i have winded up with a loss on it. So could i show the respective loss and i want to claim the occurred loss in this year.
So i want to know the details required for the submission of my tax return
(A.Y.2008 - 09)