Husband was constructing Residential House Property on a piece of land registered in his name & construction of ground floor was completed. His wife agrees to pay amount for construction of second floor subject to condition that she would receive the rent which would be received from letting out the second floor of that RHP. On this condition wife gave amount to her husband by cheque.
Now what will be the tax treatment (& Tax Benefit) in both of the assessee ? (Please also state your reply along with reason & References, if any)

gift inkind received by an imdividual (suppose residential house valued more than 100 lacs) from non relative person whether covered u/s 56 sub para (vi) of the income tax act 1961, if not-
(a) how the documentation be made to avoid registry expenses twice?
(b) what format be used to show the registry with gift deed?
(c) is the assessing officer can taxable this amount in any other provisions of the income tax act 1961?

kindly send your suggestions on my email-id.
my email-id is skg_asso@rediffmail.com
sunil gupta
9312267411

today i paid rs 8000 as my first emi for the housing loan hich was sanctioned to me on 19/1/2007 for the construction of my house,of which rs 2500 is towards interest,now I would like to know that can I claim this uder the ay 2008/2009.
i.e Rs 2500 u/s 24b & rs 5500 under chapter VI A deductions.please let me know immediately.if not pls suggest me the proper solution.

Company paid upshare capital is 15 lacs

Accumulated lossed 9.5 lacs

Cash and Bank Balances 5.5 Lacs

Share holders want to withdraw the cash and bank balance.

What is the easiest option available for closing the company ?

what is meant by "COMMERCIAL ESTABLISHMENT" under Section 2(ea) of the Wealth Tax Act.

A building is used for business purpose.... whether land around the building is an commercial establishment. Portion of Land is 75% to that of building

R/SIR,
TELL ME WHICH DATE IS CONSIDER FOR HOUSE SALE/ PURCHASE.

DATE OF REFISTERY,
OR DATE OF MAKING PAYAMENT
IF PAID IN SOME INSTALLMENT.
OR TAKING POSSESION OF HOUSE

I want to know that if i taken a home loan deduction ( for intt. and repayment)
after some time i sold my house
then what is the consequency.
plz tell me in detail

I want to know that if i taken a home loan deduction ( for intt. and repayment)
after some time i sold my house
then what is the consequency.
plz tell me in detail

Sir,

We are the manufacturer of Gasket Sheet, The Scrap generated in sheets are being send for job work for grinding of scrap,
after grinding we use in our manufacturing process.
The job worker issues their bill with Service Tax and we claim the service tax as our input services.
The dept. denied to give the claim of Service tax since the job worker should not charge the service tax for the scrap of same manufacturer.
Our contention is that since the Service tax is charged by the job worker , hence we have claimed.

Pls advice and how we can get benefit.

Regards
divaker

A partnership firm is to be converted to company in January 08. How shall be deduction of depreciation claimed for FY 07-08?
1. Total by partnership firm
2. Total by company
3. Proportionate on no of days
4. Full by both entities