If an employee is getting HRA from company and he has bought a house in the same localty but the purchased house is not used as self occupied it is a let out property. Can he awail HRA and also take the exemption on house loan for the let out property in his name.

hi i need to clarify doubt in cenvat tell me with example what is cenvat

Bad recovery by successor is not considered as an income under the head PGBP p.k kaimal case. But sec 41(1) clause b clearly states that any trading loss incurred by the first person and recovered by the successor shall be considered as his income. Why then bad debt recovery not considered as income for the successor?

Dear All,

If I.T.Return of commission agent for A.Y.13-14 is filed after due date u/s 44AD, what will be its consequences?????


Will refund be issued by the Department????

Kindly guide about the concept of amortisation (of assets). Thanks.

Hello everyone

I want to ask about marginal relief? I understood what is marginal relief but at the time of calculating I am getting confused with the upper limit of marginal relief.
To simplify,say marginal relief is available for 1,02,00,000 but not for 1,04,00,000. How is it calculated? I want to know how marginal relief's upper limit is decided or is it restricted by some percentage or something else ?? Please solve my query.

Thanks in advance.

I wanted to join articleship under Direct entry scheme I have completed my M.com also with good percentage of marks but i still find in Chennai where i reside there are some firms they don't take articles under direct entry scheme they take people who have passed IPCC both the groups any particular reason for this policy which these firms are having.

according to bombay high court decision....indexation can be claimed from the year in which assets are acquired by the previous owner..... but according to study mat of icai.....cost are indexed from the year in which assets was acquired by the assesse.... pls tell me what is applicable for exam... pls

sir,

if any profession income is stop when he retired from this profession then if he don't file return that year IT return & next year he get income form other sources then he can file IT return for only that source? P.Y. return also file or not I mean to say one year he could not file return

I think (not sure) while registering for ipcc I made a dd for rs. 12000 which probably included articeship fee... moreover I don't remember the dd no. and date... I am in a huge mess.. is there any way of assuring myself now ???