When we are calculating the MAT does it require to make adjustment to arrive book profit in addition to said adjustments(ie positive and negative)in the Income Tax Act???

If the books reflects wrong treatment of expenses (in accordance with the Act,1956 and ASs), do we need to make such adjustment to get correct profit(as per above provisions).

If it is given in examination (of FINAL CA PAPER) a problem which contains some wrong treatment, can I made such adjustments or am I need to continue (assuming the profit is inaccordance with the above provision( -act & as)with adjustments given in the Income tax Act itself?????

Case will go for assessment either to ITO, CIT or Add.CIT is depends on which criteria. is there any Total Income slab which decides that this case will go to the ITO or CIT or Add.CIT

Some partner take mortgage loan ag.property in their personal saving account ( i.e.disbursed in their personal saving account ) and then immediately transfer the fund in the firm in which they are partner by issuing a cheque from their personal saving account. What can be the reason thereof ?

What is the effect of changes in prices (i mean sensex changes) on the respective company.
Is it effect position of the company in terms of ficance and other positions like credit ranting of the company etc,.

WHAT IS THE MEANING OF ARBITRAGE BENEFIT.

There is a query on Income Tax.

The employee is provided with a company leased accommodation in the city of employment and at the same time his family is staying in a rented accommodation different city in the same State / different State. He is owning a house which is vacant and the loan installments are being paid. Prior to shifting he was staying in that home.

1) Can he claim the HRA even if he is provided with the leased accommodation?

2) Can he claim the interest on housing loan as a deduction even when he is having a company lease house and the rented accommodation in a different city where his spouse and the family stays and visit s them on week ends?

Please confirm as CLA is in the nature of perquisite and the HRA in the nature of allowance.

Thanks.

Hemendra

dear experts,
I am a qualified CA ,,I am working in a company in finance dept.i got my membership no. also. Can i sign/attest the examination applications of students appearing for professional CA exams?
If yes, then whether i should maintain a round SEAL,,, and in what should be on that,,
plz answer this,, thank you ,, regards,,CA.JEELANI AHMED

dear experts,
I am a qualified CA ,,i got my membership no. also. Can i sign/attest the examination applications of students appearing for professional CA exams?
If yes, then whether i should maintain a round SEAL,,, and in what should be on that,,
plz answer this,, thank you ,, regards,,CA.JEELANI AHMED

in the case of unrealised rent, whether it shall b deducted from actual rent or from gross anual value????
as per provision it shoud b from actual rent but return of income shows it as deduction from gross annual value?!!!!!!

There is a query on Income Tax.

The employee is provided with a company leased accommodation in the city of employment and at the same time his family is staying in a rented accommodation different city in the same State / different State. He is owning a house which is vacant and the loan installments are being paid. Prior to shifting he was staying in that home.

1) Can he claim the HRA even if he is provided with the leased accommodation?

2) Can he claim the interest on housing loan as a deduction even when he is having a company lease house and the rented accommodation in a different city?

An early response by the experts will be highly appreciated.
Please mark a reply to my ID varshney_office@yahoo.com

Thanks.

Hemendra