Q1) Should an assessee required to satisfy the following pre-requisites for claiming interest on capital borrowed from father u/s-24(b)?
i) Loan Agreement with the father in non-judicial stamp papers of Rs.50/- or Rs.100/-
ii) Taking & repaying of loan from / to father through banking channels
iii) ITR of father should be filed showing the interest income even if GTI doesn't exceeds maximum exemption limit
Q2)In case the assessee doesn't bothers about claiming interest deduction u/s-24(b), can he /she gets an interest free loan from the father as i have read in some legal websites that for charging interest the lender should obtain a license as a moneylender?
Respected Sir,
In which head of income the following incomes of a property dealer should be taxable (selling & renting of property both are his main business)? Please correct me if I am wrong with satisfactory legal reasons.
i) Rental income from property owned by him – Though property is held as stock in trade but income taxable u/h “House Property” u/s-28
ii) Commission income from property given on rent on behalf of its owner – Income u/h “PGBP”
iii) Sale of owned property – Income u/h “PGBP” as block of assets as it is held as stock in trade & thus cannot be taxed u/h “Capital Gains”
iv) Commission income from sale of property on behalf of seller / owner - Income u/h “PGBP”
If due to any reason if student has not added any other degree in articleship and after completing the same if there is any provision to add it or what will be the consequences for the same
Trust having no 12 A registration received donation of Rs. 15 Lakhs(details of donors available) during the year. Total amount spent towards charity (with proper proof) 10 Lakhs. Surplus Rs.5 Lakhs. On which amount tax is calculated since the trust has no 12 A registration? On 15 Lakhs or 5 Lakhs?
i m having my attempt due in may 2016 and i just want to know in detail about what will be the applicable syllabus for it and i know that finance act of 2015 will be applicable for dt and idt but should i start preparing law audit and iscaa and from where which books ??????????
Is a pvt ltd company compulsorily required to get its books audited u/s 44 AB even if its turnover is below Rs. 1crore. I mean, is section 44AB is applicable to limited companies also ? plz consider section 44AD also while answering.
sir what is meant by duration of a bond and how is it different from maturity of a bond.
Sir, Lic deducted my tds but tds returb filed in wrong pan no? So it is not showing in 26 As ? when i got tds certificate , name was correct but pan no was wrong? So my question is that should i file my return and should claim tds amount ? OR should wait until the tds correction... pls guide
i am giving executive exam on dec 2014 ..n i am really confused regarding modules of law...icsi has uploaded new module with amendment of company law 2013... so form which module i should study??? the one which was supplied to me during admission or the one which is uploaded on icsi site
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
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