how it will be shown in financial statement ?
For individual can we create Provision for tax ?
if no please mention the section which deals with provision.
In www.incometaxindia.gov.in/questionbank.htm (Qn 94), I find "The net taxable income from the property must be calculated first and then apportioned between the co-owners. In this process of calculation maximum interest payable of Rs.1.5 lakh can be considered only once."
I found contradicting views expressed in the following:
(1) As per www.outlookmoney.com (Let debt play its part) "Opt for a joint home loan with spouse. This will ...give you more tax-breaks... up to Rs 1.5 lakh each under Section 24 for interest repaymentsince both would be entitled for them"
(2) As per www.apnaloan.com/taxtips, "The maximum limit of Rs.1, 50,000 will apply individually to both of you (i.e. the total deduction will be limited to Rs.3, 00,000). The relevant sections in this regard are, the explanation to Section 26 as well as Section 23(2) and Section 24 (b).
Please enlighten on the above
What should be kept in mind (from the Company's perspective)while giving festival bonus?
What are the tax implications?
a) For Company
b) For Employee
Dear Sir,
Pls guide me, what are the notifications under which we can claim exemption of service tax or service tax refund. We are the manufacturer & exporter of steel castings.
Thanks,
Sanjeev Shrivastava
What are the conditions for vat refund in case of exporters ?
Respected Sir,
I had following doubt related to PEE-II exams to be held in Nov 2007.
1) What is the relevant assessment year including relevant and updated
finance act for IT& CST paper of PEE-II Exam to be held in Nov 2007?
2) Where can i find the material for the same
Thanks in advance for solving my query and guiding me.
Thanks & Best Regards
Tarun Jain
I have to pay arrangement fee for securitisation to 'DSP Merril Lynch' and 'Deutsche Bank'. Whether there is any TDS liability on this payment.
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Deffered tax