Hello,

In financial Year 2010-11 bank has charged Rs. 90,000/- as interest on Home loan.
In FY 2011-12 Bank Has chagred Rs. 1,53.000/-

In FY 2012-13 I got the possession and bank has charged Rs. 1,93,000/- as Interest.

Whether following computation is correct for FY 2012-13

Income from House Property
( rent received Rs.10000*12)
A)1,20,000/-

Less : Sdt. Deduction 30% 36000/-
: Munciple Taxes paid 4000/-
: Interest forFY12-13 193000/-
: 1/5 Interest 48600/-
(90000+153000=243000)-------
B) 2,81,600/-
Loss on H.property A-B=(1,61,600)

Whether the earlier two years interest charged by the bank should appere in income tax return for the particular year.
If yes under which heaed ?

in tally is it possible to add the direct expense with the opening stock.

for example closing stock as on 31.03.13 for a particular item is 10,000/- after that 1200/- additional direct expense incurred in april'13. the value of this item as on 30.04.2013 in closing stock should be 11,200/- is it possible in tally , if so how will pass the entry

sir ...we have not booked service tax on rent for the year 12-13 and also service tax return for last two quarter.

now can we book the service tax ?
and can we claim the input credit of service tax in filing of last two quarter return ?

Foreign student come to India on trainee visa for retainer ship and if they earned in India for traineeship .Shall we deduct TDS on the payment which we paid them.

Is that True, all payments for advertisement are made after deducting TDS u\s.194C..........?

Dear Caclubindia
1. one of my client has provided service for machinery repairs & installation. he falls under which section 194 C or 194 J
2.what is a/c head for bank loan processing fees of 9 lacs .
3.monthly payment made to enginner on site shld b salary/ wages / prof.fees a/c

thnx

If there is a long term capital loss in shares transaction i.e. STT is charged in the transaction though we have to not to carry the loss whether it is compulsary to show this loss or what if yes then in ITR 4 where it is to be shown

I have a Proprietorship business which is registered in U.P. in sale tax & Income Tax doucments.

But now I want to take an office on rent in delhi for the purpose of other business, Can I paid such rent from my above proprietor business?


Is that possible from Income tax Point of View?

I have a interest income on FD of about
Rs. 2,70,000/- Is there any rebate of Rs.10000 off on Interest Income or how can I save tax on the above income.

SIR/MADAM, I HAVE COMPLETED MY CPT AND WAITING FOR RESULTS.I WANT TO HAVE MY B COM DEGREE.SUGGEST ME IF IT WOULD BE PREFERRABLE TO DO IT PARALLELY ALONG WITH MY IPCC?IF SO ALSO PLEASE SUGGEST ME ANY UNIVERSALLY RECOCNISED INSTITUTION With 76% marks in 12th commerce WHICH GIVES ME THAT DEGREE. THANKS IN ADVANCE