An assessee has signed as a guarantor for a housing loan availed by a person known to him. After payment of certain installments, the borrower becomes insolvent. Bank asked the guarantor to pay remaining installmets as a guarantor. Now the question is can the guarantor claim the deduction u/s 80C & 24 for the installments paid by him for a home which is not owned by him?

An assessee has signed as a guarantor for home loan to a person known to him. After payment of certain installments, the borrower becomes insolvent. The bank has asked the guarantor to pay the remaining installments on behalf of the borrower as he was the guarantor. Now the questio is cas the guarantor claim deduction u/s 80C & 24 for the installments paid on behalf of the borrower for a house which is not actually owned by him?

In computing profit of non profit organizations, the following adjustments is making me confused can any one please help me?

On receipt side- sale of furniture on 30.9.99 is 9000
payment side- furniture purchased on 1.10.99-5000

Additional information:-
Book value of furniture sold as on 1.4.99 was 12000. Depreciation is 20%p.a.

Sir, by book value we mean after adjusting depreciation is int? then how is it given that depreciation is 1200 and 500? then loss on sale of furniture as 1800.

Can you please help me Sir? Also can you tell me how will it be shown in balance sheet ? Please help sir.

we provide skilled and unskilled manpower and charge
1 wages to be paid to labour as defined in contract
2 E P F charges to deposit with epef authority
3 Service charges for providing the labour

Is service tax is payble if payble on what amount . on wages+epf+service charges OR on Service charges only

I do not have knowledge abt stock market, can u provide me basic knowledge on stock market to understand it and what other things I do to gain knowledge on it ?

What does SENSEX and STOCK INDEX means and how they fluctuates , what r there effect on the market?

I do not have knowledge abt stock market, can u provide me basic knowledge on stock market to understand it and what other things I do to gain knowledge on it ?

What does SENSEX and STOCK INDEX means and how they fluctuates , what r there effect on the market?

as per sec 40A(3) , considering the amendment by the finance act 2008. A payment or aggregate of payments made to a party in a single day in excess of Rs. 20000 in cash is 100% dissallowed. (earlier a single payment in excess of 20000 by cash is dissallowed , n that too 20 %). it is clearly visible by the amendment that aggregate of payments or a single payment in cash in excess of Rs. 20000 is dissallowd.
My problem is - since the amendment n its objectives r clearly visible, a client of ours says that if he recieves 2 bills, both of them Rs. 20000 n He makes payment to them in cash on the same day , although the aggregate will be more than 20000, he says it is comletely allowed.
How could it be ??? as the amendment clearly says payment or aggregate of payments......... plzz resolve ..... is he right or am i right???

I do not have knowledge abt stock markets and I want 2 know abt that, what I have to do ?

What does SENSEX and STOCK INDEX means, and how it fluctuates?

Can u help me in understanding Stock market by providing basic knowledge on Stock Market to understand?

After feeding the entries or items under perticular units of measurement in Tally package how to change the units of measurement without deleting of earlier feeding entries or items.

Plz give solution to above

sir,my name is rahul agarwal.i m in CA Final(six paper cleared).i want to do new course in finance,investment and risk analysis.suggest best one.