HI suggest me some good reference books for all the subjects in CA Final.

Dear Sir / Madam,

I am an NRI from U.S. I have the following questions related to Income tax.

1. I have purchased property (Residential flat) in India by taking home loan and now, I want to show this on my tax returns for tax exemption. Do I need to request bank for certificate with details of all EMI-payments (principal & interest seperately) for this?. Please tell me the exact procedure on this.

2. If I get below 1 lakh / Annum rent income from above said property which is rented out to a private party then
is it taxable (I don't have any other income in India other than this and of course I have overseas income(salary))?
If it is taxable how much percentage? Is there any way to get tax exemption on this?

3. I will get Rs. 500 (approx) as interest for the year April 2007- March 2008 from my Savings A/C in India (I usually remit the money to this savings A/C from my Overseas Bank A/C). Is it taxable? Do I need to furnish these details in my tax
returns? If so, Do I need to get the Interest certificate from the Bank seperately?

Thanks a lot for your valuable information on this.

Regards,
Srini.

Dear Sir / Madam,

My Provident Fund got settled ( both the Member & Company contributions), Rs. 47, 293 after resignation with my previous company and the amount, Rs. 19,903 (more than 40%) has been deducted on this as per Rule 10 of part A of Schedule IV of the Income Tax Act, 1961. I would like to know whether this settlement has been done correctly or not.

Thanks a lot for your information on this.

Regards,
Srini.

Is there any restrictions on holding audits under Section 44 AB of the Income Tax Act, 1960 ?

Is it clash with the number of company audits, under the Companies Act, 1956.

Pls assume the case may be for an individual practising Chartered Accountant.....

In what situations, a Balance Sheet may have Capital Account " Zero ".

Please assume it only in the case of unregistered individual concerns.....

What is " SELF AUDIT "? I think it is most popular in Bank / Branches

sir, can i adjust the excess amt of ser tax which i paid in last quarter?

my client has letout his ricemill (HUF property) along with the machinery on a monthly rental lease

Assessing officer wants to assess it as income from House-property
I am of the view that as the property is letout along with the installed machinery and power it is assessable as income from business
Please clarify along with caselaws if any in my favour

sir, I am desperately looking for a C.A firm near palam and I have no idea about the C.A firm near Palam, Dwarka etc. As it becomes very difficult to do a area to area search. Is there any directory or website where I could find the detail of C.A firm in these areas.

sir,
i have cleared my PE II in Nov 07 and registered as article on 6th feb 08, i have received my registration letter, according to which my final attempt will be when i have completed 21/2 year of articleship i.e. in Nov 2010.
but earlier i have been told that my attempt will be in May 2010.
please clarify when will be my Final attempt.
thanks