My First Querry is that i want to file income tax return and i am paying rent anually 80000 /- and i also have the receipts of the same so can i claim it u/s section 80-C.

Can i claim tution fee as deduction u/s 80-c more than two child.?

In a contract of guarantee, whether forbearance by the creditor to sue the principal debtor discharges the surety.

I am new to Audit work,how we have to start the audit when we visit the client place.
If any one can help me about the procedure of Audit, how to start and how to end and what are the steps involved in it,what ever the Audit it may be but standard format to do Audit.

* Mr. A is holding 25% shares in XYZ Pvt. Ltd.

* The company has Rs. 20 lacs in its Reserve and Surplus on 31.03.2008 which includes Share Premium of Rs. 5 Lacs.

* Mr. A is also partner in M/S ABC & Co. and his share in the firm is 60%.

* The said XYZ company gave a loan of Rs. 18 lacs to ABC & Co. out of which the firm paid Rs. 16 lacs to Mr. A.

(a) Will the provision of section 2(22) (e) of the Income Tax Act be applicable for this transaction?

If yes, what will be the amount of deemed dividend in the hands of Mr. A?

In another situation XYZ Ltd. has repaid of Rs. 18 lacs against loan taken by it from ABC & Co. and ABC & Co. in turn gave loan to MR. A by debiting his capital account.

Whether the department is right in arguing that XYZ Ltd. Co has given Loan to Mr. A via conduit and hence the provisions of sec. 2(22)(e) are applicable and Mr. A is liable to tax for amount received to be considered as deemed dividend ?


Whether TDS provisions are applicable for deemed dividend.?

First of all Ram Ram Everybody!

We are authorized dealer of Kirloskar oil engines for spares & service. We provide warranty service to Kirloskar Genset customer. Work charges of warranty claims to KOEL labour cost and material replaced within warranty. Also we purchase spares from KOEL. KOEL gives us a credit note of warranty charges. We reduce the same from our purchase value and remaining amount paid by bank. Also they calculate service tax on labor charges 12.36% Tell me how the above transaction enter into tally.

Hi,

As per Rules, Revised Return under Service tax can be filed within 60 days from the date of filing Original Return.

Whats the Provision / remedy in case we have found an error and need to file a Revised Return for HY ended March 2008, for which Original return has been filed in April 2008.

Theres no additional tax liability arising due to Revision.

Ramya

One of our client has paid a huge sum towards participation of Exhibition conducted by CII. Whether the maoney paid as exhibition fee is subjected to FBT

AS PER WEST BENGAL TENANCY ACT, THE RIGHTS OF A TENANT ARE NOT HERITABLE.

WHAT WILL BE THE POSITION IF HUF IS MADE THE TENANT

CA. MANISH SARAOGI

is there any difference between ACA and FCA considering Audit point of view? DOes ACA in practice have any restrictions for conducting any audit? or Else ACA and FCA are at par and has same status?

Comrades,

Our CA CLUB has given various clasification in sharing the files.

But I personaly feel that the following categories are also to be added; which is need of the day..!!

a) HR Legal - to share thoughts, information and files as per ESIC Act, PF Act, Factories Act, Bonus Act etc.

b) Copy right, Agmark, Branding etc.

Though all these can be classifed under others...
It is practicaly difficult to locate especially HR Legal..

Hope CA CLUB will accomodate the request..
I am sure you all expecting the same..!!

U may also make a post - for immediate attention.

visuiyer@yahoo.com