A person resides in a city and has purchased a house there taking home loan from bank. He pays EMI for this comprising of Principal & Intt components. Now, he shifts to some other city due to change of his job. In that other city he has taken a flat on Rent. Now, can he get HRA benifit for Rent being paid by him along with benifits of House loan repayment? In his owned house, against which he has taken loan, his other family members are residing. Will he show some Rental Income from his family members to claim benifits u/s 24 & 80c?

Pls keep the query open unless you are sure of your replies.

After the decision of Delhi High Court, will the service of renting of immovable property be considered taxable all over India? For Delhi high Court it shall not be taxable but what about service providers from other states? should they also not collect & pay ST?

hey , i have just passed my 12 and i me worried abt future.i had planned to do CA in delhi,but now my society says its not good or sth like this.i want to know abt the scope of CA.and whether CFA or MBA finance in future is better than CA.plz help me.

Please assist me on the issue ASAP:-

There has been a repair of the concealed rain water piping in the 16 floor bulding costing around Rs 20 lacs. The repairs included the following as major expense:

Labour Charges

Material Charges(Cement etc)

Refixing of new pipes where the pipes where broken

Consultancy Charges

The work was on contract for a period of 1 year and has been complete in F.Y 08-09. The payment has also been made up to date.

My view is that:-

Since the repairs have improved the efficiency of the piping and also there has been addition of pipes at places where it was leaking or broken which definitely increases the future benefits from the new repaired piping, IT SHOULD BE CAPITALISED. Please note that,Had the pipe not been repaired it woyuld have been leaking. Doesnt this mean improvement of efficience?

What are the criterias for capitalising the repairs exp?

What criteria supports my view,which i can put forward?

Anticipating a quick response from all.

Thanks and Regards

Piyush Newar

Can anybody tell me when we are registered as a service provider for more than one service than what is the code for payment of service tax penalty under section 70 for delay in submission of return.

hi..
I want to know the tax treatment of amount received on maturity of Insurance policy, if it is received by legal heirs of the assessee after his death.
what will be the treatment if it is received by the assessee him self..

How many limits for Gift to Blood relation & others ?
ex. :- 1) a father gives his son Rs. 150000 is taxable or not in f.y. 08/09 ?
2) a father gives his son to House property(Purchase :- 126000 in f.y. 94/95 and sell:- 384000 in f.y. 08/09) should be long term capital gain paid up for father ?

An assessee has received his Form no 16 for TDS for contract after 1 year can he claim deduction? And if he receives this form after 2 year can he claim the deduction? What is the validity of this form?

Dear Friends, Whether we have to attach Cash flow with Balance Sheet for Pvt Ltc. Company also?

one of my client is servicing in china and head office of his employer is in dubai,he is getting salary from dubai by cheque sent to india and he get it deposited into an NRE A/c he is non resident last year, the question is whether his income will be chargeable to tax on the basis that his first receipt in india, please explain me by giving sec. reference, regards CA HIREN SHETH