Sir
I have the following query with me.

IF a person has two properties constructed with loan from Bank.

One property is self occupied and the other is letout for others

Can he claim the interest on borrowed capital on both the houses u/s 24.

And the other query is:
Is the deduction of loan repayment, Principal deduction is 20000 for each house or 20000 for all the houses taken together

Please resolve my query
Awaiting expert responses

why the TDS is to be Deducted?

Is all Applicable( IFRS, GAAP and IAS )
from 2010-11, I heared only GAAP and IAS is applicable... Is that true..Please inform me which among these are comming compulsory....

hi,
Can a person claim hra exemption and at the same time claim loss from house property (in the form of interest)?

hi

Is commission/ profit on sale of lottery by a whole sale lottery distributor is subject to service tax? If so what is the taxable service?

please reply

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Is it that exam form release date is posted on ICAI.ORG or How would a person come to know when form is out otherwise than by word of mouth?

Do i have to pay Income tax for NSC interest acuring every year or can i claim the rebate under section 80c

Recently I read that:


Study of Bank statment with its reconciliation with books of accounts gives an idea about "Incidence of devolving of LCs".



Please let me know the meaning of "Devolving of LC.s"

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Bank Had credited our account with interest twice on 31.03.2008, which was reversed on 01.04.2008, what will be the accounting treatment as interest received will be shown in books.
1)Should i show the interest amount as per bank or i should treat it as an extraordinary items as per AS 5