My father has a house in his name, which we wish to demolish and reconstruct.For this purpose, I and my wife would like to join my father as copartners to apply for a loan from the bank.Can me and my wife be elligible for taking the tax benefit for the interest paid on the share of home loan taken by us? If it is not permitted then what is the cheapest & legal option to go for if me and my wife wish to enjoy tax benefit available on home loans.

arun

A person sold a house and with in the said period he invested in oder to get exemption u/s 54. But he bought a house not in India, but outside India. Can he get exemption? If no.. is that particularly mentioned/stated in the Act, that the newly bought residential house must situated in India?
Also what if the house sold situated outside India and the bought house was in India?

Note: Assuming all the relevant claims have satisfied by the Assessee.

I want to start up a company. I am seeking information on how to start up a company and if there is a list CAs available who could help me with this start up - in terms of registration. Also typically what would e the fee for getting the services of a CA engaged with registration of a new company.

Section 165 provides that a statutory meeting has to be held within a period of not less than one month nor more than 6 months from the date on which the company is entitled to commence business

how does it differ from saying that statutory meeting should be held within 6 months from the date on which the company is entitled to commence business?

The reason for rise in price in any case is of course its demand.But for demanding something there should be a use to it.For example when one demands land, it may be for building a house in it.But in case of shares what is the inspiration for a person to buy it.Dividend is never an inspiration because that comes to just one percent or slightly more of the market price of stock exchange listed shares.Please do not say rise in share value itself is the reason for the rise in share value.Can anyone please explain then why this rise happens?

I hv given an interior decoration contract to one person in Karnatka. He is supplying material as well as providing labour services. I want to know that what is the rate of tax he should charge from us.

Presently he is charging 4% composite tax. As per him I m not able to take credit for the tax paid by him.

The assessee had made defalult in deducting TDS for payment made to a contractor. Subsequently the co had debited the expense a/c and credited TDS payable a/c with the TDS figure for avoiding disallowance. Whether the co is eligible to claim such TDS payment as their business expense

Is retrading or rebuttoning of tyres not on franchise taxable? If yes pls let me know under which category of service it is taxable.

When the exemption limit of 8lakhs is crossed is service tax payable on entire services rendered or only that part which exceeds 8 lakhs?

A supplier received central sales tax declaration form "C" from his customer after nearly six years. The reason for delay in issuing the form was due to suspension of factory activities on account of labour problems. During this period the supplier had completed his sales tax assessment by paying the difference tax for non-recipt of "C" form. Now that the form has been received, is there any way for refund or for adjustment of the difference tax paid? Is there any time limit? If so what is the maximum time allowed? I request our valued experts and esteemed club members to advise. - Vishvesh

I want to receive Rs.100000 as gift from my married daughter.Does the term lineal descendant include female child also as per section 2(41). Infact the word any has been used in section 2(41) but is it necessary to examine the provisions as per Hindu law.