After completion of a Project, there will be a post project maintenance period. Say for Example 1 year free maintenance. During this Period the Company spends some money for Materials, Labour and Other Maintenance Exp. My question is, are these expenses belongs to the project or General Repairs and Maintenance Exp.? If it is a Project Expenses where and how to account it? Could anyone give me a detailed explanation?

The assessee had purchased an House Property for which he has availed the loan from Bank. The said property is self occupied by him with his family. The old property has been given on rent.

As per the provision of Income Tax Act, if the House is self occupied then the interest can be claimed as deduction u/s 24b to the extent of Rs. 150000/-.

However interest amount is huge, so the balance interest can be claimed against the rental income of the old property let out?

Dear All,

I want to take registration under excise as traders. so whether i need to register o which address whether at my store and at head office. Both are separately located.

Further if i procured raw material and provide it to a job worker for manufacturing the product, then in that case whether i need to register under excise and who will be the prinicipal manufacturer.

A flat was purchased from DLF for Rs. One crore to be completed within 36 months. DLF delayed possession upto five years.
DLF paid Rs 18 lacs as 'Penalty for delayed Completion' of this real estate contract'

Question. I wish to know whether this penalty is taxable in the hands
of receiver? or can it be reduced from cost of the flat?

my company purchased 3 room heater of 4355 each..kindly let me know the accounting treatment..

One of my client was in tax audit. But due to ignorance she didn't conducted tax audit for last three years. Now Income Tax Department has issued penalty against her. What is remedy for this situation@

Thanks

My company having 4 branches and i have to pay service tax for 2nd Branch but by mistakenly i have paid service tax for 3rd Branch what i will be do in that case, should i have to pay the service tax by using 2nd branch code ,Please advice

Please note i have service tax registration for all 4 Branches

Dear Friends,

I need a considered advise on the following matter.

A Pvt. Ltd. co. has three directors. One of the promoter is Chairman of all the meetings and overall authority for conducting of affairs of the Company.However, on MCA site his designation is mentioned a Director. He signs all the dosuments,papers by the designation of Chairman.Last time a PCS has objected to his signing the docs as a Chairman. As per his view, the Chairman should sign the docs as a director and not the chairman. Elese, his designation should be changed and a fresh form 32 should be filed in mCA.
What should the Company do. I agree with the view of PCS technically he is correct. But I am not sure whether change in designation as chairman will be proper. Please advise.

Thanks & Regards

P.C. Joshi

i am staying in Bangalore in a rented property and own a house in Mumbai. The Mumbai house has been let out on rent since November, before which it was just locked.
The mumbai property is on loan.

Now what shall be the tax treatment of the above:-
1 - Can i claim HRA for the rented property i stay in

2 - SInce the second house will be let out only for 5 months then what shall be the Sec 24(b) limit for claiming interest paid on housing loan

3 - Will mumbai property be considered as a deemed let ou for the whole year

Please reply......

whether terminal handling charges(THC)and commission paid to clearing & forwarding agent for goods which is exporting outside india,liable for deducting tds??