how to show home loan in balance sheet. house is self occupied.

Last year
Value of the House is Rs. 8 Lakhs
Home loan against it Rs. 4.5 Lakhs

This year
Value of the House is still (No depreciation bcoz self occupied) Rs. 8 Lakhs
Home loan against it Rs. 3.5 Lakhs

Now my question is that how can tally the balance sheet.

I am in service and have an fixed deposit of Rs.30000.00 with nationalised bank.Is this amount elligible for deduction from gross total income u/s 80c if my total deduction u/s 80c does not exceed Rs.100000.00.


Suggest me.

Netai Saha

Pls guide about Profession Tax - Maharashtra.

About its applicability, Mode of Payment, Returns, Forms, etc.

Thanks in advance

please tell me that on not filing ROI on either 30th sep. or 31st july..,the following consequences happen:::

1) loss of that particular year is not carried forward
2) if tax is payable then interest is charged
3) if refund is to be claimed then also interest is charged
4) deduction from GTI can not be claimed

So....., under what sections deduction is not allowed

Please answer me in detail....!!!

My query is if the assesse wants to declare lower income than prescribed in sec 44AD and gets his account audited, then whether such Audit is included in the ceiling limit of 45 Audits of a CA or not? And if not, then why?

Thank you in advance.

hiiii,,,,plz answer this
i have paid my sales tax for the last quarter...but for the current quarter, due to some problems, i was not able to continue mu business [no purchase, no sale]..so is it compulsory to file a nil return...if i do nothing will there be any penalty imposed on me???

Sir,

I am transporter who own the more than 4 trucks, fuel is purchased from same fuel station, all vehicles on same day, which exceeds Rs20000/- in day if all the bills are clubbed. Even though i pay bill through my driver who acts as my agent in this case whether my expenses attract disallowance.

our company has deferred tax rs. 135568.75 as per balance sheet 31.03.2009 and on 31.03.2009 Block Assets was nil due to sale of assets.

so what is the effect of deferred tax assets?

Whether deferred tax will be nil of keep it same position.

Please advice us


Thanking you

Rajat Sinha

Accountant
Annar Pharmaceuticals Private Limited

what are the imp point in 3 CD please help

As per recent notification a firm required to file return in ITR-5 or an Individual or HUF required to file return in ITR-4 and required to comply with the provisions of sec 44AB are required to digitally sign the I. Tax return.
whether the above notification is applicable to a co-operative Society and a coop Bank wich is required to File return in ITR - 5 and liable for TAx Audit ?
reply over pr_sahane@yahoo.com
Thanks