Hi,
Friends...
There is a case where client has granted unsecured loans to the sister concern/related
parties from the Bank overdraft account....and CC Account which is hypothetically secured against stock and other fixed assets held b an entity....

Whether there is some disallowance of interest paid on BOD Account with reference to the amount of unsecured loan.

Please provide the relevant section of Income Tax Act....

For an employee of Cognizant Technology Solutions Private Limited, when the TDS was deducted and deposited in the first two months of employment to the extent of Rs.1495, the Form 16 issued mentioned Amount Paid/Credited as 29677 and TDS as 1495. The worksheet attached alongwith the Form 16 mentions "Income under the head Salaries" as 242117. What should I fill in ITR-1 in TDS worksheet under the title "Income under the head Salaries" under Clause 22? And if I should fill 242117 and instead I have already filled 29677 and filed the return, should I file a Revised ITR?

I have one house in Pune where my mother is staying currently and one more house in Bangalore which is occupied by me as I am working in Bangalore. I have considered Bangalore house as self-occupied and claimed interest expense up to Rs 150000 and considered Pune Property as deemed let out property. I don’t have any Interest against pune property but have to considered deemed rent. My query is whether I can claim rent as Nil against this Pune property as mother is actually staying there. Please advise.

Pls clarify the following things regarding GTA Service:

i) Whether reverse charge mechanism is applicable on very first rupee paid for services OR Negative list exemption can be taken as RS. 1500 for each bill or Rs. 750 for each consignment for Service Receiver??

I have one self-occupied property and I have booked one more house. The new house is under construction and not registered yet. The loan on self-occupied house is fully paid. The house under construction there is housing loan and Interest expense. The possession/registration of the new property will be in Feb 2014.

The query is, considering the new house as “deemed to be let out” from feb-2014, can the loss (full interest paid against loan in 2013-14) against housing property be claimed in FY 2013-2014? As the house would not be rented in FY 2013-2014, can the rent income be considered as NIL?

hi
good evening
By profession I am consulting dentist.
Now i want to file ITR.
So can i file ITR 4 as profession without books of a/c.
Is there any compulsion on Doctors to maintain books of a/c.

Dear experts,
I am from Chandigarh,I was a student of PE2 2002, but due to some reason i cud not continue my CA, but now i want to continue it again, i need your all moral support & motivation,
As per new format, i am eligible for direct entry becoz i had scored 60% in B.com & due to conversion from PE2 to IPCC i am exempt from orientation program, now i want to start my article-ship with new manner along with my study,
i am eligible for ipcc may 2014 attempt, Thing is that plz guide:

a)Where should i start my article-ship who is best firm in Chandigarh & could give me time to study
b)Should i go for both group's examination Or single group one by one during article-ship,
c)can i go for 2nd group first, will it be my right choice & after that for ist group,
d)How should i manage my study & how to prepare my best,
e)Suggest me best coaching faculties in Chandigarh,reference books & any kind of material which could help me to make a mark in ist attempt.

Regards
Deepak Soni

Sir,
I gave my 1st attempt of ipcc. Then I didn't pay the exam fee and didnt appear in the 2nd attempt.. Will that be consider as an attempt? How many times one can give the attempt with the initial registeration fee?

In a construction of building, EDC ( extra development charges) are levied as a statutory levy on construction. So, whether service tax is payable on EDC charges paid to builder for construction??

My friend is an artist and he received a grant from US. The grant is given as aid to develop his art studio and his works.Whether it will be part of taxable income and under which head it has to be included. Please clarify