Dear Experts,

An assessee has taken a Mortgage Loan(as recorded by bank)against his house property form a bank amounting to Rs. 1 crore, out of which Bank paid Rs. 50 Lacs for paying of his existing House property loan and remaining 50 Lacs has been given to him in cash.

Bank has issued a interest certificate mentioning that Rs. 500000 has been paid by assessee during the year. Noting has been mentioned that this interest is eligible for deduction u/s 24b.

The purpose of taking this mortgage loan that assessee wanted to pay his existing housing loan and remaining amount for his business expansion.

However, Bank has taken it as fully mortgage loan and they are denying to issue any interest certificate u/s 24b for the protion of the loan amount which was used to pay off his existing housing loan.

Now please suggest me that where assessee will get deduction of the interest paid and how and on which amount?

I(resident individual)purchased house property and in sale deed only my name is there and my wife is not the co-owner but i have taken housing loan in the name of my wife(resident women assessee)and i am also a co-applicant and repayment of loan is made from my S/B A/c. So loss under house property(interest payment)and deduction u/s 80C(principal repaid) is to be taken by whom?? myself or my wife??? plz quote similar judgement if any...

One of my friend is a (bachelor)handicapped person and working as a bank employee.He wants to file his return.
Can any one of u guide me under wht sections he himself can claim deduction.

One more his father pays a premium on his name and his father claims it as he is also an employee.

So now the handicapped person can also claim the deduction of premium while filing return or only u/s 80U and any more....
Thank u

I am M.Com, LL.B. Now in Govt. service. Interested to pursue a recognised course in Corporate Law - six months/ one year duration through distance learning. Pl. suggest important recognised institutes/universities. Thanks & regards.

Dear Sir/Mam,

My Client has got a Demand from Sales Tax to pay amounts claimed as Input Credit on basis of Purchase Invoices of Vendors with Invalid or cancelled tins. My client was ignorant of the fact that the TIN no was invalid/cancelled. He has made payments of all bills on which he claims credit.

Is there a legal provision which can save my client from paying this demand???

Please help.

C.A. Supriya Kalwar

Dear experts,

I have following query regarding giving loan to wife .
This i am asking as i am earning saving bank interest in idle amount in bank and for that i have pay incometax at my tax bracket.

1) I am in 30% income tax bracket
2) My wife do not have any income

Can i give Loan to my Wife (around 1 Lakh) and make loan agreement in plain paper saying that loan is interest free and will be payable on demand.

The Loan amount will be invested in Fixed deposit in bank and as she is not having income , she will not be liable to Income tax.


Thank you.

Helo to all,


our company has export as well as domestic sales.

till not the company was giving annexure from excise dempartment for purchase bills. but now they are saying to take input credit in domestic department.



now my question/confusion is:

whether the company should take input credit or it is advisable to give annexure in all purchase bills of export?

what is the impact of the same in costing of products?

Do we need to include cost of excise in finding out the per unit cost of product or because we are taking credit, we shouldnt add excise in cost calculation?



Please let me know your views.

Thank you.

Thankyou for the reply regarding excise duty payment but Central excise Inspector is not agreeing, he is telling the 6th is the duty payment.

Ours is a PCB manufacturing unit, which comes under chapter no. 8534 , turnover less than 4 , please let us know whether our unit comes under SSI unit? what is the chapter NO. 7,7a,7b,7c and 7D. Please clarify.

will the sanction to the companies bill 2012 by the parliament have an effect of repealing/ rendering the Companies Act 1956 non-applicable ??

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