Hi,
I have purchase a house property & for which i have taken the loan from my Grand parents & have paid them Interest.

U/s 80C: Principal re-payment deduction is dis-allowed if the loan is not taken from Banks or financial Institutions.

But i am not able to find any section which could dis-allow the Interest paid on the above loan.

Can you please suggest whether i can claim the same U/s 24

A PVT LTD is incorporated on 21.02.2013.
Now as per the provisions of Companies Act, 2013 we have to prepare the financial year for the period of 14 Months (21.02.2013 - 31.03.2014).
But as per the provisions of Previous year as per Income Tax Act, a previous cannot exceed 12 months.

Now should we have to prepare two balance sheet, 1 According to Companies Act, 2013 and 2 to Income Tax act.

Kindly help me out regarding this.

Service by an unincorporated body or non-profit entity registered under any law for the time being in force, to its won members by way of reimbursement of charges or share of contribution -
upto an amount of Rs. 5000/- per month per member for souring goods or services from third person for the common use of its members use of its members in a housing society or residential complex is exempt.
Does Rs. 10/-Lakh threshold exemption is also applicable for this exemption.
i.e. If Rs. 4000/- per month per member is collected from 25 members. Total of Rs. 12 Lakh is collected ie. Rs. 4000*25 members*12 months. Is the society exempt since it has received less than Rs. 5000/- per month per members though the threshold limit has exceeded Rs. 10 Lakhs?

Could anyone tell what is the maning of C.I.F, C&F , F.O.B

Dear All,

If there is a head office in bangalore & there is a need to transfer stock from head office to branch office (say may be hyderabad Branch)

What are the Form Procedures involved in it as per KVAT Act 2003?

Please guide how it will be affecting Monthly VAT Return?

Regards,
Jordan

Hi Expert,
I hve completed my BCOM graduation in 2005. and working from then as accountant. My current pay scale in 17k. i want to go for further study . i dont want to do ca or cs since its a long time time course and expensive too. I want to study further so that i cat get a better pay. right i know service tax, vat, audit, tds .bcoz if i want to change my job the problem i face is the present generation candidate are qualified like ca, cs, frm, . company prefers that sort of candidate rather a bcom graduate with 5 years experience. I request to kindly suggest me a course where i can work and study and which will help to grow further. Pls suggest.

what is ACCOUNT DESCRIPTION INCORRECT which appears in My Status > Refund Status details after logging in Income Tax Website

Dear Experts,

Can a person file an Income Tax Return without having PAN number on the bases of the acknowledgment given after applying for the PAN

Thanks

sir/madam I am a student of ipcc Group 2.. recently I Have received students journal january 2014 issue..on page 15-16 of the journal there is a note regarding NON APPLICABILITY OF INDIAN ACCOUNTING STANDARDS FOR MAY,2014 exams...it has also quoted that MCA has hosted on its website 35 indian AS without announcing their applicability date...in our course their are 9 AS I want to make sure that they are non applicable for may 2014 exam...Please reply thanks

In case of Private Limited Company, 3 Directors were on Board. One Director resigned on 10.06.2013 and other Director resigned on 15.06.2013. Now only one director is present and Company wants to run the show. What could be the wayout for this deadlock?