Sir,
1. The assessee is Partnership Firm, engaged in the business of manufacturing activity.
2. However, during the year there is no business activity.
3. Further the firm has let out its property and in receipt of rental income.
4. Therefore, letting out income is treated as Income from Other Sources.

So,
1. Is Interest on Partners Capital and remuneration allowed as expenditure, even though income is taken under the head Income from Other Sources?
2. what about applicability of provisions of Sec. 40(b), 269SS, 269T of the I.T. Act, 1961?

Thank you.

hello every one i am so much dipressed... i am ca pursuing... and my family & study & personal life is too much disturbed.... unable to find the solution...which is to fix on priority.?like the dialouge, gf wo pareshan krti ha, pdhai wo disturb krti ha nd family ke internal problems bhi mind focus nhi hona dete ha..? may b it is not a professional query bt it is a query?

Hi, There is three companies involved. Comp A, B & C. Comp A sources job works from Comp B and transfer it to company C for execution. Company A does not execute any work itself. Company B releases material to Company A with a challan. At the time of payment Company B pays to Comp A , and Comp A after deducting its agreed share passes the balance to Comp C. What should be the challan and excise rules applicable to Comp A. Its really very urgent.

My cliet is a rice mill. They have paddy purchase from brokers. For 50% of the transactions they dont get purchase bills.How to account such transactions. Cash payments are made for such purchases. How to deal with the situation???

CAN CAPITAL GAINS ARISING FROM THE SALE OF TWO RESIDENTIAL HOUSE PROPERTIES BE CLUBBED TOGETHER TO BE INVESTED INTO A SINGLE RESIDENTIAL PROPERTY OF GREATER VALUE? DO WE GET CAPITAL GAINS EXEMPTION AS PER SECTION 54 IN THE ABOVE CASE WHEN GAINS OF TWO HOUSES ARE COMBINED AND INVESTED INTO A SINGLE RESIDENTIAL PROPERTY?

we received the notice for following addition made in at the time of assessment:

1. Addition of Rs.1,50,000/- was made on account of dis-allowance of commission.

can income tax department send the notice u/s 271(1)(c)for above expenses.

What should be the done for not to pay the above amount.

I an taking a transfer so am I suppose to fill form no 112 again?
During the initial registration last year I'd given all my details in form 112 (that i'm doing B'Com course along with CA).
That time I was in 2nd Year B'Com.

Now is it compulsory to again fill form 112 and mention in it that I'm a 3rd year B'Com student?

The reason I'm avoiding this is because I have to again to college and get Principals' stamp and signature which is a very tedious task.

I stay in a rented apartment. I executed a rental agreement wherein it is agreed
that rent will be paid to the landlord and the maintenance charges (security, club
house, park, etc)to be paid to the Society directly by me. My question is that can
I consider maintenance charges paid to society as rent amount paid and claim
income tax benefit under Sec. 10 (13a)

Dear All,

in a partnership firm, there are 4 partners, viz.. Mr. A, Wife of Mr.A, Mr. B & wife of Mr. B

As per Partnership deed no salary will be allowed to any of the partner but Interest on capital is allowed @12 p.a.

My query is: Interest on capital paid to Wife of Mr. A & Mr. B is liable to clubbing provision with Mr. A & Mr. B respectively or not??

All the partners are income tax payee and invested the capital at their own.

Dear Sir/Mam,

I am working in a company as a trainee. My company is engaged in the stock broking business. How ever due to financial constraint my company wants to move out from the business and planning to start a plantation business.

For this i need to change my company name as well as entire object clause of MOA.

Kindly help me in this regard. What is the procedure needs to follow.

Thanks
Sambit