SECTION 54F AND HOUSING LOAN
can 54F be claimed?
1.Building sold on 02-05-2014 Rs.65,00,000
2.Residential house constructed on 31st July 2013. Value Rupees 80,00,000
3.Housing Loan amount is Rs. 15,00,000.
Can 54F be claimed?

Dear Sir,

We have purchased a machinery of Rs. 1 lacs as the machinery was not delivered at the specific time, we have deduct Rs. 10,000.00 as delay penalty from vendor and paid Rs. 90,000.00.

Should we book Rs. 1 lakh or Rs. 0.9 lacs in fixed assets account.

Kindly suggest.

Regards,
CMA Arvind Aggarwal

hi all my dear friends and experts. I have cleared my ipcc and I have started my articleship two months ago, now please guide me about the studies for ca final. Which teachers are good to take coachings from? Do I take the coachings of all subjects or some selected subjects? Do I opt for single or both groups for final exams? Please reply ASAP ? And I live in Delhi.

hi
i am pursuing ca final my attempt is november 2014.but i still not complete my graduation degree.i have regesterd with the cource bcom(ignou+icai).

but i am little bit confused about the validation of that bcom.is it same as general bcom by other universities.

please suggest whether i have to take admission for graduation from other universities or not.

thanking you.......

A house purxhase in1968 at 2 lakh nd its value on 31st March 1971 is 4 Lakh nd During the year the assessee underwent some improvement Of 1 lakh.What value will be taken 4 wealth tax if on 31stMarch its value is 6 lakh...Plz Justify??

Form 16 issued by employer for PY 13-14. In July 2014 employer gives DA Arrear for the period of July 2013 the March 2014. Then, while filling return does the employee take into consideration arrear DA as well, in the calculation of HRA exemption.

Hello, What if i have excess leaves in articleship but after 2.5 years of my articleship WITHOUT considering the excess leaves i am giving my exams and my c.a principle has signed my exam form NOT considering the excess leaves. Then would there be a problem if i do not complete the excess leaves?

sir/mam
in case if an employer provides any gift in cash to the extent of 50000, to his employee on marriage then what should be the treatment is it taxable under salary(as gift in cash is fully taxable) or other sources(as gift upto 50000 is exempt)

Dear Sir,

One of my client whose wife is doing tution classes from home and fees recd in cash amounting to rs. 15000 p.a. and she also receives some cash from her materal father and relatives of her family ( cash gift on birthday, diwali,marriage anniversary etc.)every the year amounting to rs. 20000/-.

she wants to file her income tax return for F.Y. 12-13 and 13-14? then whcih ITR i should use and how to show her income under headwise?

how to plan for her income and what to show and how to show so that in future no query willbe addressed and how to suggest her

please explain
thnaks in advance.

Dear sir,
I want to know one of client has earned 50 lacs arounf election days from stock market. he comes to me. unexpectedly he has gained alot. he is small investor. he does have such income which is chargeable to tax. but around election days he gained 50 lacs profit from stock market. he never files return. what should he do? he does not want to pay any tax on it. how i save him from tax.

whether he should invest in residential property or gift some rupee in blood relation or investment in NHai or rec bonds/ plot of lands? how to save him from income tax department. how he take amount from share market. there is huge amount passes though bank then what recourse he should adpot to avoid legal formalities and enjoys the full amount by investing in some better tax saving option.

please it is very urgent. if i file the return then which ITR is to be files how much tax shall be paid for this amount?

if he want to avoid then what to do? what are legal repurcussions to avoid and not to show and File ITR?
if we have to pay tax then what is tax rate, amount, iTR for filing and in which A.Y. it is considered?

se give me clear cut ans with finacial figure as well as from tax angle?
Thanks in advance.