I have filed I.T.R of Rs 3.5 Lacs last year (A.Y. 06-07). If file I.T.R. of Rs 1.0 lacs this A.Y. 07-08, is there any chance that my case can be come under scrutiny due to drastic reduction in Income bcoz the business has been shut down inspite of being in reasonable profit because of articleship.(Business is of Trading in 'Share & Security')

My father bought house property i his name, iam paying the interest & principal for loan, father don't have income above taxable limit so he is not claiming, whether i can claim the interest as house property loss and principal as a deduction U/s 80C

Sir,

I had passed CA-Inter and I want to pursue my career in Financial Markets. Please suggest me the way so that I can enter the market in an early stage. I had experience in Project finance.

Thanking You


Regards
Pradeep

I'm appearing CA PE-II(both Groups) in the month of November,07.I'm facing problems particularly in Auditing.I'm following Std.mat,Kamal gupta as reference.How will I prepare case laws?
Also advice me to score high in Accounts and Laws so that I can minimise the risk incase I score less in Auditing.-rennie05.tapan@gmail.com

hi dere
i hav passed my PE-II this may in my first attempt.i live in lucknow,UP. i dont know is it good option to do articleship in delhi or elsewhere in big firm or go for firm in lucknow itself,which is the best firm here. please guide me as soon as possible

Public Charitable instt, running educational instt, Donation received with specific direction towards Corpus Fund of trust, can such fund be used for revenue exp such as salary, conveyance, printing, repair & maintenace, etc.,

Sir,
whether ST is applicable to a Contractor who enter into contract with the builder to complete the construction work of the building e.g.Tiling work, by supply of skilled labour only. Here the contract receipts are exceeding 8Lac.

Thanks V much

Sir,
Do sec 44AD of IT Act is applicable to a Builder who buys plots of land & deploys his own resources (without subcontracting) to construct the buildings & sell it?


Thanks

IN FINANCE ACT 2007, THERE IS CHANGE IN VALUE OF RENT FREE ACCOMODATION WITH RESTROPECTIVE EFFECT FROM ASSESSMENT YEAR 2006-07.. BUT RULE 3(1) IS NOT AMENDED. I HAVE TO FILE RETURN FOR THE ASSESSMENT YEAR 2007-08 HOW I VALUE MY PERKS. WHETHER I WILL TAKE RATE 20% , 15% OR 10% & 7.5%. IF I HAVE TO TAKE 10% OR 7.5% , THEN CAN I REVISED MY RETURN OF ASSESSMENT YEAR 2006-07.

The firm is arranging finance on behalf of finance company and getting commission from the finance company for the services rendered. The total commission received during the year is 17 lacs. whether tax audit is applicable for the firm? if so is there any circular/notification from the Income Tax Department