Residential Property purchased in the name of wife. Loan taken by husband and wife is co-applicant.

1. Can wife take benifit of interest.

2. Can husband also take benifit of interest.

3. Can both take benifit of interest.

3. What about benifit u/s 80C of repayment of loan.

A Partnership firm is in the process of dissolution. Firm is of Medical practitioners. Whether the firm can write off the medical equipment (fixed assets) from the books? If yes, under which section of Income tax act?

Ours is a Export oriented Mfg. Company.(Not 100%)
Total Turnover consist 70-80% Exports.

What are the ways for Refund of excise?
Is there any way so that We need not to pay Excise and avoid Refund procedure?

The other thing is that how can we avoid to pay excise on input raw materials which are used for Mfg. activity and the Final Product is sold out in Domestic as well as out of India.

Pls. give me the solution.

Sir, we want a projection format for open a cash credit a/c in a bank. we hope, u will be send this as early as possible. thnaking you.


regards,


arun

Ours is a Export oriented Mfg. Company.(Not 100%)
Total Turnover consist 70-80% Exports.

What are the ways for Refund of excise?
Is there any way so that We need not to pay Excise and avoid Refund procedure?

The other thing is that how can we avoid to pay excise on input raw materials which are used for Mfg. activity and the Final Product is sold out in Domestic as well as out of India.

Pls. give me the solution.

I had taken the Loan for the construction & after construction i will given the same property on rent.
Now whether i want that all the amount payable such as interest & principle would be set off against such rental income?

weather i should giv both groups of IPCC in nov 09 or only one group...my aim is to get a rank...and i came to know that it is possible with both groups simultaneously

Sir,

Can we accept unlimited cash towards supply of material ?

Will it be harmful under Income Tax Law ?

Will it be taxed ?

Is there any case law for this, if yes than send me.

Hasmukh Patel

SIR/MADAM

MR. X LIC AGENT EARNS COMMISSION INCOME OF RS 40000/- IN THE F.Y 2007-2008 . AND IN F.Y 2008-2009 HE EARNS RS 50000/-. NO DETAILS OF EXPENDITURE INCURRED IS MAINTATINED CAN HE CLAIM ADHOC EXPENDITURE ?? OR I HAVE READ THAT HE CAN CLAIM 50% OF THE INCOME IF INCOME IS WITHIN 75000/-RS??. CAN U PLZ EXPLAIN IN DETAIL THE AMOUNT OF TAXABLE INCOME OUT OF SUCH INCOME IN BOTH THE YEARS SEPERATELY??

Can first stage dealer issue invoice inclusive of excise instead of mentioning it separately?