The query is regarding Sec 80E
One of my friend is doing his MBA from IESE
Business School, Barcelona through distance learning .
He has got his loan financed from Sabadell Atlantico,
a foreign bank. During the year he has paid interest
on loan amounting to 2050.17 sterling pound which is
mentioned in the certificate given to him from bank.
According to section 80E interst on loan is deductible
which is paid from income chargeable to tax.My query
is the loan taken from foreign bank eligible for
deduction as per the provision of sec 80E. Also are distance learning course eligible.
Also ,please let me know about the rate of conversion
reg the interest amount.
Kindly clear my doubt

Dear All,

Pls update me about the VAT rate on Lubricating oil in the state of Up after the introduction of VAT w.e.f. 01-01-2008.

Dear All,

I just want to know about the introduction of Entry tax in the state of Haryana.My company is registered in Haryana and paying VAT regulary. Whether we are liable to register under haryana entry tax act. Actually i came to know taht the stay order has been taken againt it's applicabilty but not sure about the legal formalties which we are sopposed to comply with.

if a person(not a CA article) is recieving a stipend from co. say RS.75000 pm whether it is taxable or exempt.
plz provide the section
and what about if CA article is recieving this

An Articled trainee has completed two years of Articleship.
He has been offered Industrial Training by a reputed company.

Now, the CA whom the student has been undergoing Articleship Training is not allowing the student to go for Industrial Training.
The student informed the CA 6 months back that he is in search of industrial training offers. At that time itself, the CA cautioned that he would not allow the student for Industrial Training.

Whether the CA can refuse to allow the student for industrial Training?
Whether the Industrial Training is only at the mercy of the Principal CA?

What is the Maximum Limit for deduction from Sec80c-80U

There is Pvt. Ltd. Company. Its director withdraw some amt. for his personal purpose and ledger of that director on Co's books of a/c is under loans & Advances then whether it is taken to be as deemed dividend. If yes then whether company is liable for deduct TDS under section 194 on that amt.

I have to prepare the CMA data of a petrol pump. Now the land for the petrol pump was purchased by the owner a few years ago for 6 lacs only now the market value of the land is Rs. 2 crore appl. now while calculating project cost whether bank will assume historical cost or present cost of land. owner can contribute only the land as capital. other capital cost on project is appx. 1 crore. how the financing will be done by bank plz suggest. how should i prepare the CMA.

i have a query regarding issue date of tds certificate to salary/ non salary party.
acc to law the date of issue for salary is 30-04-2008 and for non sa;ary 07-06-2008 but my query is that if last quarter tds is deposited on 14 june then how can we give the 7th date as issue date for certificate
also if in case of salary 30april is last date but if tds is deposited after it what date sholud be for certificate

PLS RPLY ASAP

Please give brief information about deferred Tax & about its calculation.