* Ours is a Housing Co-Operative Society(147 members). * One Member has donated one Ambulance Van. * We have debited Asset A/c. and Credited Donations A/c. * Our only income is interest earned from Fxd.Deposit in Bank which is a meagre amount. * The P & L a/c shows NET LOSS when Depreciation on Van (5% on cost) is transferred to P&L A/c. Is there any way out to carry Book adj. between Asset a/c and Asset Revaluation Reserve a/c (by transferring cost of van from Donation a/c), thus avoiding the P&L A/c ? Please suggest.

Mr. X made a gift of Rs. 300000 to his daughter in law .she invested that amount in p.o. mis .
Whether clubbing provision is applicable? Deduction is available u/s 80c?wheather she can jointly share the income with her husband?

How should I prepare for I.T. & S.M. for PCC November 2008?

A assessee has a service tax registration no & files the service tax returns in last year but in current year his gross receipt is less 10 lac rs. WHETHER HE CAN FILE THE NIL RETURN ? AND IS IT COMPULSORY FOR HIM TO FILE THE NIL RETURN ?

I registered a flat in Feb 2006 and did not take any benifit of the amount paid towards registration in income tax. I am getting the possession of the flat in April 2008. Can I claim any benifit in year 2008-09 for the amount I paid for house registration in Feb 2006? If yes, what kind of exemption allowed and is there any limit on that?

For the year 2004-05 I paid income tax in excess of Rs 5000. I filed the IT return in Pune, Maharashtra. I got my PAN number from Bangalore in year 2002.
Till now I haven't received my refund. What can I do get my refund?

What are the documents needed to claim the exemption on income tax on Leave travel assistance?
And what is the limit for LTA that can be exempted from tax?

1.Employer owned Car Facility provided to employee and exp incured(Maintannce+Car Driver) by employee,can employee dudcut Maintannce+Car Driver expnses form Gorss Salary to arrive Taxable Salalry?
2.Is anything different if employer hire such car?

DEAR SIR,
PY : 2007-08
AY : 2008-09


An assessee have the following income.


1. Income from salary - Rs 72,000/-

2. Income from Bank Interest on Deposits Rs 1250/-

3.STCG from trading in securities listed in BSE and NSE - RS 25600

Total Income (1+2+3) = Rs 98,850/-

Q : whether he is exempt from tax since his total income less than Rs 1,10,000/- or tax on STCG by trading on shares will be Rs 2560(Rs 25600 X 10%)

CAN SERVICE TAX CREDIT ON MOBILE BILL BE ALLOWABLE . THE CREDIT FOR THE FIXED LINES ARE ALLOWABLE BECAUSE THEY ARE CONSIDERED THAT THEY ARE USED IN RELATION TO THE BUSINESS,BUT BEING THE MOVABILITY OF MOBILE PHONE THEY ARE NOT CONSIDERED THAT THEY ARE SPECFICALLY USED FOR THE PURPOSE OF BUSINESS.PLEASE CLARIFY AND GIVE REFERENCE IN REGARD TO ANSWER