Dear Sir,

I have a query. One of my client took a housing loan in P.Y. 2013-14 for acquisition of House Property.His mother is a co-applicant in the loan. For saving stamp duty charges he got the property registered in his mothers name. So my question is whether he can claim deduction U/S 24 for interest and U/S 80C for Principal repayment even though he is not a registered owner of the property ?
Please help. Thanks in advance

I want to know whether the following expense will be allowed to my assessee(partnership firm) in the following case:-

My assessee's employee has made an expenditure of Rs.25000/- in cash through his imprest account.
Also the firm gives him only account payee cheque for his imprest.

Now whether this case will attract the disallowance of sec 40A(3)of Income Tax Act 1961.

Employer(member ICAI of Article Assistant refuse to sign Form 112 for M.Com correspondence course.
This M.Com in Finance &Taxation is exclusively for ICAI Students,
Designed and Developed in Collaboration with THE BOARD OF STUDIES
THE INSTITUTE OF CHARTERED
ACCOUNTANTS OF INDIA (ICAI). ICAI is promoting this course which does not clash with working hours of Article Asst.
But one of its member refuse to sign Form 112.

It is a moral responsibility of Members of ICAI to promote aims & objective of institute.

I request your opinion on this this.

Please let me know when From 3CEB is applicable for a private limited co. engaged only domestic transaction.I also want to know which transactions are fall into arms length category and if a company would want to avoid from 3CEB then what is the transaction limit.

Regards
Amit Nandy

Is the employee liable to pay tax on LTC received from employer in the very first year of its receipt.

If an employee gets one time leave travel concession of Rs. 100,000/- in January 2013 and gets retire thereafter.

will this amount be taxable in the year of its receipt i.e. F.y. 2012-13 as the block prescribed now ends.

Do you have to get PAN from all the joint owners if i am paying rent to 4 landlords because it is a joint ownership and the rent paid exceeds 100000 in total to all landlords, but it does not exceed 100000 not if i consider rent paid to individual landlord.
Do you have to get PAN from all the joint owners
Please help. Thanks in Advance

i have taken housing loan on 10%. i have income of FD interest. i am getting 12% return or interest. can i take deduction of FD interest against housing loan interest . i am salaried person.

Respected All,
To what extent turnover is exempted for professionals to pay service tax?

BALU

now we are running a manufacturing company1, to avoid central excise we decide to create a another company2 (both are same business) which the directors are the spouse of the directors in company1.
query:
1.whether the turnover will be clubbed for central excise?
2. If there is any other complications on this?

Kindly clarify.

What would be impact if son transfer his money in bank a/c to his mother by a cheque or NEFT and mother then make a FD to earn interest on that.

Whether the interest on FD will be clubbed in the income of Son or mother?

Kindly advice