Car purchased for Rs.5 lacs in 2011 sold for rs.2 lakhs in 2013 by a Trust. Depreciation has not been provided/claimed. What will the profit/loss on sale? and the treatment of the same in accounts.

Dear Sir,
I filled an articleship form along with final forms duly attested and signed by my Principal CA and commenced my articleship from 17/02/2014. However, now my CA and me both come to know that my principal already has 7 articles and I am an excess article. Now, I am getting registered under another CA who is a partner of my previous CA. However, the firm I am working in is the same JRS & Co. I had sent a draft of Rs. 12000 previously with the forms. Now what shall I do?I am filling in a new form. What are the procedures that I should follow to avoid any losses in periods of articleship?Should I make a new draft again?

A house property is held jointly by husband and wife.. Can they both claim interest on loan due up to 1,50,000 EACH?

Sir, I have my CA final exam due on May,15. I want to appear for both groups but I have not started studying yet. I will be having exactly 1 year in hand for preparations. Is it possible to prepare within 1 year without taking coaching? If yes then what are good self study books for all subjects? I had cleared my IPCC both group in 1 Shot without taking any coaching and I want to know is it possible for CA Final too or not?

Dear Sir / Madam

I have received TDS intimation u/s 200A for short deduction due to wrong PAN. For that i failed Revised return with correct PAN.

However, after the revised return again i received intimation for short deduction. though in Justification report shows correct PAN.

I communicate with CPC and they mail me as under;
Dear Sir/Ma'am,

Thank you for contacting us, it is our pleasure to assist you.

Your query related to PAN error default is acknowledged.

It is to inform you that the provisions of section 206AA apply at the time of tax deduction, which happens prior to the filing of statement. Thus, the deductor is expected to have a Valid PAN at the time of deduction. Only a typographical error is expected at the time of filing the TDS statement.

The demand in the hands of the deductors is being rectified in cases where the difference between the Invalid PAN and the Valid PAN is not more than 2 characters. This is being done in order to take care of the genuine typographical errors in data entry.

The rectification of demand in other cases is not done if the mismatch is more than two alpha characters & two numerics. Therefore, out of 10 characters in case of structurally valid PAN, 4 characters are being considered for rectification of demand.


Regards,
Team TDS CPC


Is there any specification in Act or any notification or circular are there for the same??

Kindly guide me any reply as early as possible.

I applied for both groups in CA final for may-2014 but as per my preparation I think it would not be possible to focus on both groups so i m going 2 appear for group-I & in 2nd group only ISCA by scoring above 60.My question is non-appearance of DT,IDT & costing would tantamount to failure of group-I also or it would be group-I pass & whether I would be eligible for Exemption in ISCA if i would not appear for other subjects of group except ISCA.

Capital Gain on Rural Agriculture land is exempt from Income Tax as this land does not come under definition of capital asset.

So what particulars regarding the aforesaid capital gain is to be filled in Income Tax Return.

Dear Sir,

While doing an audit for F.Y.2012-13, in one of the case, it comes to knowledge that assessee is liable to pay tax under reverse charge mechenism & aggreed to pay.
But,
Revised return is not an option to show and pay the tax as 90days are crossed from the orignal return filled,
Kindly guide about the payment of service tax and return filling for the same.

If i want t import soething from china,i have to pay the import duty in india, then what is the way to reduce the import duty in india?

Sir,

What are the deductions can be claimed for Income from Commission.



*Commission can get the agent on Turnover of Company.