A House which is not self occupied, let out since he is doing job outside country, for this let out house he is getting 4.5lacs as annual rent which is received by him after TDS. For that property he has taken loan of 50 lacs and its accrued interest is comes to 4.30 lacs for the financial year 2008-09. My question is, for the interest accrued on loan, how much he will get as deduction u/s.24(b)? whether he will get upto 1.5lacs? please clarify...

pls tell me section 2(22)(e) in easiest form . i will be very tahnk ful to u.

Respected sir,

I want to know about what is the diff. between deductions and exemption in income tax????


thanks in advance.....

Hello Experts, I am about to discuss on my salary part with my new probable employer. Can you please guide me on ideal breakup for CTC between 16-18 Lacs? For which components of salary component should I watch for while negotiating the salary?

My friend has to recieve Refund for the AY 2007-08. He was an expat. He then quit the company in Feb 2007. When he went to the It dept to get the refund in July first week 2009, he was made to come for few days saying we still need some more time as a new Asst Comms has just been posted. Finally he was told that refund cheque is ready . Infact they showed him the cheque which had interest till May 2009. But they said that they will hand over the cheque only after he gets a letter from the company he worked for (Which had deducted the TDS for AY 2007-08)which states declares that he has earned the amount mentioned in the form 16 & TDS deucted is correct.But since it is more than 2 yrs that he has quit the company, it is impossible to get such a letter signed from that company.(One of the big 4 had filed my friend's taxes that yr as they were appointed by the company since my friend was an expat). Now my friend is working for another MNC so getting the letter from the older MNC is not possible . The ACIT is not willing to hear anything. She says that without the letter she will not issue the cheque.It is already 3 months sinve the cheque is prepared. PLEASE ADVICE AS TO HOW THE REFUND CAN BE GOT.REALLY NEED THE ADVICE.THANKS IN ADVANCE.

what is the tax impact of a foreign company on which transaction tax is paid in that country is sold by a resident indian?

would it qualify for claiming exemption u/s 10(38) if securities transaction tax is paid by such assessee in a foreign country?

sir I would like to know about result date of june attempt.pls tell me when will the result will likely to be declared.pls sir.........

dear sirs,
we are doing statutory testing of LPG cylinders(domestic house - hold cylinders),along with the painting and printing work for which we receive money from the Oil companies.Out of which we are
spending nearly 65% on above raw materials.How can we make claim on
exemption on raw materials used while paying service tax on gross amount received under the tax head Repairs and maintanence? Or will it come under tax
head works contract

regards
priya

We are manufacturing co regd. under excise and producing excisable goods. We have engaged labour contractors in our factory for job work process of finished goods. They execute the work of Fabrication and Galvanizing in our factory. The job process is amount to manufacture. Contractors issues their bill of Job work on weight basis per month and they are not charging or paying service tax as the job work process of excisable goods is amount to manufacture and excise is leviable on such process which is to be paid on clearance of such finished goods processed by Contractors from factory.

My query is whether such labour contractors are covered under ambit of service tax and are liabile to pay service tax or not? If yes, under which service category it should falls?

one contracter purchased material on excise bill and taken input credit of excise in service tax. contracter also produced the same bill for cenvatable excise duty from client.Client paid excise duty to contracter.whether it is right or wrong