I have purchased a flat on part payments basis payments subject to progress of construction. The cost of flat is aprox 80 lacs, Bank loan Rs.60 lacs. The builder has quoted 81 lacs cost while the broker through whom the deal was made has given discount of Rs. 1 lac. Agreement with builder is for 81 lacs. After payment of 40% of the cost the broker has send us a cheque of Rs 90,000/- (Rs. 1 lac - TDS @ 10%). I have deposited the cheque in my Housing loan account. Now please guide me:
a) Whether this discount from broker to me would be added in my current year income or the cost of flat would be reduced by this amount.
b) If it is to be refused from my cost of flat how the TDS would be treated.

I am a tax payer in 20% tax slab.

sir/frnds am confused a lot whether to appear both group or only 1group in my first attempt. i rgstrd in july under direct entry scheme, n having coaching for costing and f.m, n doing itt write now, plz suggest me if i go through the both group, how could i have to maintain my study with article ship of 9month what could be the procedure for me for appear to clear both group in my 1st attempt, what would be the time i need to maintain everyday , or should i go for only 1 group 1st? plz... ans me..............

[1] Is capital gains or short term gains applicable in selling tax free bonds before maturity? If yes, what is the rate?
[2] If I invest in name of my wife, will income from selling tax fre bonds before maturity will be clubbed in my income or my wife's income?

Respected Your Goodself...
i have completed my Articleship Dt.25.02.2013.
filing form 108 dt.26.08.2013..
what is the procedure to be followed...
it should accompany wid a DD of Rs.1000 thats all or i should also enclose a condonation appliication??
pls guide me?

Please tell me, that company law will not change for may 2014 students ....or will it change ?????

if i fill 80000/- income in other sources head and i have no proof for this income. is it right or not

I have a client - Private Limited Company who has not commenced operations during the year 2012-2013. Only Balance Sheet is to be audited. No P&L .Please explain the following-

Will this be counted as an audit while calculating the number of audit assignments undertaken by a me?

Please explain.

Thanks in advance

Hi all

Self Assessment tax payable Rs.43000/- for A.Y.2012-13

While making payment A.Y. was selected A.Y.2011-12.

With the above mistake Payment made and return also filed on 30/07/2012

Now notice received received u/s section 143(1) dated 6/6/13

Later demand on above intimation received on 6/8/13

What can be done in this case????

Thank you.

I have a query please help solving it..

There's a pvt ltd. co. (say A) and a trust (say B). 5 employees is in the payroll of A but works on behalf of B. Now if A wants to claim reimbursement towards the cost of manpower from B, then whether Service Tax will be applicable or not ??

Pls note : A will only claim cost from B (and no profit will be added).

Hello Sir,
kindly advise me on following issue:
A father had sold his agriculture land, which is 12 km away from M.C. Area and deposited cash of Rs. 60.00 Lac in his son's saving a/c. A notice from Directorate of Income Tax (Intelligence & Criminal investigation) office has come to verify the financial transaction. His son assist him in agriculture activity and having J form(proof of crop sale from aadati) of Rs. 15.00 Lac in his name instead of father. he is only one son. pls advise me, can son take the "J" form in his own name and can his father gift him that amount and deposit the cash in his son a/c.