hi to everyone,

I just wanna know is there any diff between interest & finance charges. What i feel is interest is part of finance charge. Correct me if I am wrong.

please clarify,

when i make an advance payment of Rs. 25000 towards, the travelling advance. whether the advance attracts, Sec40A(3). please clarify at the earliest.

with regards,

R. Gurucharan.

when i make an advance payment towards, the travelling expenses in excess of Rs. 20000 is it disallowed?

pls clarify at the earliest.

with regards,

R. Gurucharan

dear all members,

i want to know about the cenvat credit available for manufacturing company regarding payment of service tax to cable operator, & contractor they provide food to companies guests.
so company can take cenvat credit of service tax against exice duty..

Dear All,
My Company Is Not Full Fill the Statutory Provision of Income Tax Act, Service Tax Act,
1. Non complaiance of TDS , TCS
2. FBT Of Income Tax Act
3. Service Tax Matter
4. other Matter
But My Director is not aware about that ,
Hence i want ti Informe my director , regarding that matter ,
hence give me any performa(format) to represent above matter

Dear Members

Claim of HOusing Loan U/s 24 of IT Act.

Situation 1:
1. Property owned by 3 Co-owners
2. Share of Assesse - 30 %.
3. EMI is divided as per the ownership rights.

Assesse will be claiming only 30 % of Interest on Housing Loan u/ 24 of IT Act.

Situatuin 2:
1. Property owned by 3 Co-owners
2. Share of Assesse - 30 %.
3. Entire EMI is paid by this Assesse.
4. No other Co-owners are claiming Interest on housing loan u/s 24 of IT Act.

Query:
Can the Assesse claim the entire amount of Interest on Housing Loan? as entire EMI is paid by this Assesse and also no other co-owners claiming the interest.

Dear Sir,

Pls, give me balance confirmation in excel formet.

Thanking you
Harish
09313022338

Hi Madam/sir
I am a May 2008 CA Pass out student and i score 58% marks in Final year. Now i am planing for further Study of IAS but get confused whther this is the right path for a CA or not?

Plz Suggest me what should i do? Go for Capmus march-april 2009 for JOB OR go for my new Aim of becoming IAS

Thanks in Advance for ur precious suggesstion

RESPECTED SIR ,
MAY I HAVE ONE QUERY IN RESPECT OF INCOME TAX “ PROFIT & GAIN OF BUSINESS AND PROFESSION “ . IN IT UNDER SECTION 40(A) (3) IF ANY EXPENSES ( PAYMENT) BY MEANS OF CASH PAYMENT( EXCEPT BY AN ACCOUNT PAYYEE CHEQUE OR AN ACCOUNT PAYEE BANK DRAFT) EXCEED RS. 20000 /-
THEN SUCH EXPENSES MAY BE 100% DISALLOWED AND NOT DEDUCTIBLE.
[ AMENDMENT IN FINANCE BILL 2008]

[ UPTO THE FINANCE BILL 2006 IT MAY BE ONLY 20% DIS-ALLOWED]

NOW , FOR A BUILDERS ( AN ASSESSE ) POINT OF VIEW LAND BEINGS ITS STOCK IN TRADE . IF IT MAKE A CASH PAYMENT IN A PREVIOUS YEAR 2008-09 ( ASSESSMENT YEAR 2009-10) FOR REGISTRY OF LAND TO A REGISTRAR OF RS . 65000.00 . THEN IT BEING A REVENUE EXPENDITURE AND IT REFLACT SECTION 40A(3).

SO, PLEASE TELL ME THAT WHETHER SUCH EXPENDITURE ARE TO BE ALLOWED AS DEDUTIBLE EXPENDITURE OR NOT . UNDER THE INCOME TAX ACT 1961.

If for a regular vendor, as on b/s date balance appears to be -ve i.e. debit, is it to be shown under "Advances recoverable" separately from creditors list ??

Is the same treatment we have to show by segregating the -ve balance in case of debtors, showing them as "Advances from Customers"??