We know that while Housing Loan is preclosed, there would be preclosure interest charges @ some% of the principal oustanding on the date of pre-closure.

My query is that whether the same can be treated as Interest under House property in the year of sale of house property as it is necessarily a interest cost on the housing loan & deductible under Sec 24.

If YES, please confirm as to whether there are any decided cases on this?

IF NO, Please confirm, whether it can be treated as COST OF TRANSFER of the capital asset (house property) and be taken AS DEDUCTION in computing CAPITAL GAIN

Sir,
How a final student becomes a member CA after the completion of Final exams and GMCS

a) if there is a provision that this time only 300(suppose) can be qualified as CA; then the students in the top 300 in ranks will only become CA; rest have to give final next time(even though they have secured marks more than pass marks)
b) Or, those who clear the final exams and gmcs can apply for membership.

I am a PCC Student & want to Pursue MBA (Finance) Correspondence with CA ? can i pursue MBA From ICFAI. If yes, then is it necessary to inform the institute ?

Dear sir,

Can a firm give guarantee or surety on behalf third party to a bank or financial institution evenif there is no such clause in the Deed.If not what is the requirement to be fulfilled.Does the partnership act speak anywhere regarding guarantee given by the firm. Please let me know this soon.

THANKS ALOT for ur concern. I will be taking up ajob in future as a CA. LLB & MBL are on the whole good for those who want to work as CS ( I THINK SO). i thought of pursuing an international course as i think in todays time an international degree is of worth.I thout abt CPA but then again goin to USA not possible for me...so please suggest me something which will actually compliment my CA.

How much a person can earn immediately after becoming Chartered Accountant?

and

Is there any provision or rule in the Chartered Accountants Act, 1949, stating that a CA should accept only a certain amount of remunaration from his clients as audit fees?

Respected Members,

I wants to know about Work contract sale under within state sales without composite scheme. I am having some query regarding this as below;

1. What would be tax rate for seller or excutor or contractor of work contract.

2. Which form should the seller get from the principal for TDS & what rate applied by the principal.

3.Is seller can reduce the TDS from sales tax liability.

4.Is seller can get input tax credit on purchase of input supplied on work contract.

5.What steps must followed by the seller or contractor in this case.

6.How to represent the selling amount and TDS amount in Section G of Form 704.

Please reply it as soon as possible.

Regards,

Prabhakar

i have registered for the cpt of ICAI on 30-11-2007 when i can apply for the test ?
what is the date of issue examination form and submitted the same?

i would like to know in detail about the cma data. can anybody help me?

i would like to know about the exact date of the applicabilty of 1% higher & secondary edu cess on tds? pls also quote relevant link or supportive text.