i was enjoying Cash Credit in my proprietorship concern, now the said cash credit converted into Loan Against Property.

so, what is the provision under Income Tax Act, regarding this matter.

the property is residential in the name of proprietor.

so, please help me about this matter.

Thanking you

I have registered my article ship 15 October 2012 and took transfer 22 January 2013 and again joined my article ship 5th February. I have not sent my form 103 till date. What will be if I post my form 103 February 4th.and it will take 2 days minimum to reach SIRC branch of ICAI . And the problem is
Whether date of posting consider as a deemed date or should I paid late fee???

date of allotment of residential plot= 28-02-2009
loan taken on = 28-02-2009
sale deed registered on 28-02-2012

assessee paid interest amount to rs 4 lakks
for the period of 28-02-2009 to 28-02-2012

sir now my question is can assessee add this interest in cost of the plot????

please reply
thanks in advance!!!

The effective rate of Central Excise Duty on marble slabs/tiles has been increased from Rs.30/- to Rs.60/- per Sq.Mtr. But the tariff rate of duty on marble slabs/tiles is 12%, which is called statutory duty. The effective duty can never exceed statutory duty.
Can anybody explain when discharging duty liability on marble slabs/tiles, duty can be paid @12% of assessabale value or Rs.60/- per Sq.Mtr.?

Dear experts
greeting for the day!

WE received TDS notice U/S 200A, for short payment and late payment, and specific amt mentioned in the notice but this amt is different from the amt of Default TDS list which is download form NSDL!

Please clear issue of amt payable!!
in what basis we should pay the tds?

How can i see the details of demand raised by ITD for AY 2009 be cause i have received notice for adjustment of my refund against demand of AY 2009 demand raised date 7/11/2011 and DIN number 2010200910008826505T
this number can help me to understand what is the issue for the demand

Hi
I received taxdemand of 23000 for 2008 but all my taxes are tds done and my 26as form also shows it. Ihad tax refund of 4500in 2012, they adjusted that money also.What shall I do, please guide?

itr was e-filed, return processed and refund is allowed, but same is not remitted due to discrepancy in bank account number. CPC advised to put refund re issue request for which CPC communication number is required whereas intimation u/s. 143(1)(a) is not received yet, w.e.f. my e-mail id is changed from indiatimes to g-mail as indiatimes has stopped its services. The request to resend the intimation was put on 10th feb but the same is not yet received. please guide.

My doubt is that lets say I buy a machinery on 10th october....So as per rule I have to calculate depreciation @ 5%. However while calculating this what do I take the number of days as? Full 12/12 or actual number of days?

Again if I am selling as asset from within the block of assets during the year, then do I have to calculate the depreciation for asset sold for part of the year for which it is used or do I directly deduct its sales proceeds from block of assets and charge depreciation on balance? Also what if along with sale I have also purchased an asset during the year and that too after October..Do I then calculate depreciation on remaining block of assets at half the rate for the new assets and full rate for remaining???

How are the above entries recorded in the books of accounts? Is it recorded as per income tax method or is it recorded as per normal method wherein we calculate depreciation on basis of exact number of days keeping aside the 180 day and block of assets rule?

in regards to Income arising to the spouse from an asset transferred without adequate consideration [Section 64(1)(iv)],the section says Where the assets transferred, directly or indirectly, by an individual to his spouse are invested by the transferee in the business, proportionate income arising from such investment is to be included in the total income of the transferor. If the investment is in the nature of contribution of capital, proportionate interest on capital will be clubbed with the income of the transferor. Such proportion has to be computed by taking into account the value of the aforesaid investment as on the first day of the previous year to the total investment in the business by the transferee as on that day. please explain the last sentence regarding proportionate income...can we say that amount to be clubbed=investment by transferee as on 1st day of p.y divided by total investment of business(including other peoples investment ) multiplied by income of business