1. IF HUSBAND & WIFE BOTH ARE WORKING WHO CAN CLAIM THE HRA EXEMPTION WHETHER HUSBAND OR WIFE OR AT WHICH PROPORTIONATE THE EXEMPTION WILL BE CLAIMED.

IF THEY ARE PAYING THE RENT FOR ACCOMMODATION

IF THEY ARE WORKING IN SAME COMPANY OR OFFICE

IF THEY ARE WORKING IN DIFFERENT COMPANY OR OFFICE

Respected Seniors,

My PCC exams are due on May 2009.I want to buy some good reference books but somewhat confused as which one to buy.Many books are available in the market which increases my confusion.I would also like to mention that I firmly believe in Self Study.

Please do suggest me good books.
Thanking you.

The assesse is partnership firm engaged in the business of construction of apartments and real estate. During the Financial year 2006-07 they have acquired a piece of land at a cost of Rs. 1,84,00,000 in order to construct a commercial complex. Subsequently, during the financial year 2007-08 they have entered into an Agreement of Sale to sell this piece of land without any construction for a consideration of Rs. 1,92,00,000 and received Rs. 45,00,000 as advance in the month of December 2007.They have registered the Sale Deed in the month of Feb. 2008.By this time the market value of the land for the purpose of Stamp duty was enhanced by the Government and the assesse firm was forced to adopt the market value of Rs. 2,30,00,000 for the purpose of stamp duty.

What is the remedy available to the assessee to avoid the provisions of 50C

1] one advise is to round off to nearest rupee - as per sec 288
2] TDS chart developed by CA says round off TDS to nearest 10 rupees

pl tell me whether point 2 is correct, if so, give me section reference
my friend CA also suggested to round off to nearest 10 rupees, i am not getting section reference, pl help

i immensely thank CAs for quick respone on my previous service tax and TDS query

awaiting your response

from my NSS withdrawal,an amt. of Rs.10000/- was deducted as TDS in JULY 2007.
my advance tax instalment due on 15 sept was paid up which was Rs 500/-or so short of 30%.
but taking into a/c the TDS amt. it works out more than 30%.
i am charged with interest u/s234(C)
is this justified?
pl.guide

Generally exemption for HRA is allowed to all employees except those specifically stated in the Act i.e.. employees who are staying in their own house.One of my client who is a state govt. employee who is residing in the quarters provided by the Department and he claims for HRA exemption in respect of rent paid to the Dept.But the Department has not accepted his stand and stating that when the quarters is occupied by the employee he cannot claim HRA .
STATE WHETHER IT IS CORRECT

due to frequent modification of tarrif by the statutory body i.e. central electricity regulatory commision,the current bills being raised by the different generating units include the energy charges for the previous years also.it is to mention that estimated or actual liability can not be determined at end of the purchaser on the basis of tariff order. whether the energy charges for the previous years included in current bills shall be accounted for as prior period expenses or current year expenses.

One Partnership Firm has paid many times Rs. 1500 as weighing charges which amount to total Rs. 55000/- during the year. All these payments are to the same person. Is it liable to TDS u/s. 194C or any other section ?

One partnership firm has got its motor car repaired at XYZ Motors P. Ltd. Bill amount is Rs. 39,000/- which includes Spares parts charges also. Should that firm deduct tax at source u/s. 194C ? Pls. give answer by considering the following supporting Circular of CBDT.

Maintenance contracts - Routine maintenance contracts including supply of spares would be covered under section 194C. However, where technical services are rendered, the provisions of section 194J will apply in regard to tax deduction at source—Circular : No., dated 8-8-1995.

Restriction on cash payment > Rs. 20,000 : FM has proposed to disallow cash all the expenses incurred other than by account payee cheque or demand draft in excess of Rs.20,000 or more in a single day as against earlier provision of Rs. 20,000/- per transaction.

pl clarify the effect .. means if any single day pmt under whatsoever head is made exceeding rs 20,000/- the same shall be disallowed.