Dear Colleagues,
A owes money to B , B owes money to C, C owes money to A
All these are due to purchase /sale transaction between them, all are unrelated/unassociated.
Now suppose B gives letter to A saying:
A CAN DEBIT ACCOUNT OF B BY CREDITING ACCOUNT OF C WHICH SHALL BE TREATED AS PAYMENT BY A TO B
Querry:What is the repercussion under sec 40A(3) of Income tax Act
REGARDS
C.A.PARESH ZATAKIA
9833855518

Dear All,

During the audit i came through some freight bills which were booked for payment in the month of July 2012 and all such bills were pertaining to September - December 2011.Client has made the provision for it and it has been reversed as and when the actual bills are booked.

My question is that how long a Company can maintain these provisions and does it differs from case to case ????

Looking forward for your opinion on this issue.


Thanks in Advance

DEAR SIR,

Our company has let out its commercial property to its separate company with which it has entered into Joint Venture.

i want to know whether it is taxable under Business or Profession or Income from House Property??

Further if taxable under House Property whether deprecation as well 30% standard deduction both can be availed??

Thanks,

Gorav Goyal

Sir,
If an Individual let out his house property for furtherance of business n commerce to a tenant. considering rent as house property income whether the owner is liable to charge service tax on the same income?

Can anyone tell me, is Medical equipments like glucometer strip and any other bp related eqp. purchased by employees is eligible for the exemption claim as medical expenses reimburesement from employer, u/s10? Reply asap

my annual salary is Rs. 1000000 and company provide me HRA.And i have purchased a house however i didn't get the possession of the house.Shall i claim the both i.e HRA and Interest on home loan,company deneying me to claim both is it coorect to deney ?




Kindly guide me on this matter.

sir
i want to remove the imported raw material to another owners factory
what procedure i need to be followed in respect of that for excise
whether i have to made an invoice for such

Dear Sir / madam

My client had uploaded his return for the Assessment year 2011-12 on 25/02/2012. However he had not sended copy of acknowledgement to CPC Banglore till today ,
On the account of client while showing the My Return, it is showing that return uploaded.


Now what need to do to solve this problem.
Please help me.

I have one case relating to Sales Tax.
Mr. A from Maharashtra purchased goods from Mr. B from Delhi. But Goods transferred by Mr. B from his supplier Mr. C from Karnataka directly to Mr. A from Maharashtra. as being a Mr. A what form should I have to issue to Mr. B & Mr. C?

I have two home loans

1) taken combined home loan with my brother for a joint property and both are paying half of the emi. The interest on home loan is 2,00,000/-. The house is self owned (by our parents).

2) taken a home loan individually and the interest on this home loan is 2,00,000/-. The house is rented. and monthly rent is 5000/-. and no taxes paid as it is a new house.

for a self owned house interest of 1,50,000/- is for individual limit or combined limit (in my case with my brother)?

what is the total interest for home loan i can claim for both of the houses?

Thanks in advance