Hi guys,

I have one query regarding house property .

I have recently purchased flat and taken loan from bank in joint name of father who is retired govt employee. Loan got sanction on the basis of income and eligibility of mine. Now i want to register the house in name of father only. Can any one tell me that whether i can claim deduction of Interest and principal of Housing loan since payment are being made by me only .

Few investor in dubai want to invest in India wherein they want minimum return on their investment. They want someone in India to manage their investment in return for fee, a kind of portfolio management but not in equity market, in the area of corporate finance. How to structure the deal /understanding? What are the laws and limitation to consider?

hi
I am in ca practice for 6 years and now I want to join the industry so should I surrender my COP before hand or I can practice till I get the job and what is the status of my membership fees Am I reqd to pay it even if I join my job before Sept?

is there a way to merge 2 different company data (branch offices) in tally?

Dear all
I want to make a sale in Transit using Form E1. Please suggest at what stage the invoice from the first subsequent seller is required?

BASICALLY FORM ITR-1 IS FOR SALARIED EMPLOYEES. BUT AS PER CBDT GUIDELINES FORM ITR-1 CANNOT BE FILED FOR AY 2013-14 IF THE ASSESSEE HAS EXEMPT INCOME MORE THAN RS. 5000/-. NOW ALMOST EVERY EMPLOYEE HAS EXEMPT INCOME BY WAY OF HOUSE RENT ALLOWANCE, MEDICAL REIMBURSEMENT, TRANSPORT/CONVEYANCE ALLOWANCE ETC. THEREFORE THE SALARIES EMPLOYEES WILL NOT, NOW, BE ELIGIBLE TO FILE FORM ITR-1 BUT INSTEAD FORM ITR-2 WHICH REQUIRE CUMBERSOME AND AVOIDABLE DETAILS. ANY SOLUTION OR ANY OTHER OPINION?

Dear Experts,

Our client is providing packing services to Agarbathi manufacturers. Is this service falls within the ambit of "taxable Service"?
Whether service tax is applicable? Any notification in this context?

Dear Fellow Members,

Please advise me in following scenario-
XYZ is a public listed company. Local government has taken 10% of its land due to the local government's road extension project without giving any compensation. The company follows cost model for its fixed assets.

And now the question is simply passing an entry of derecognising the proportionate amount of land assuming a disposal of assets while charging profit is must or there are any other way out is here?

Please note standards for impairment is not applicable here due to carrying amount is much lower than the fair market value.

Laba Khatri
Member

I'm started my articleship but i'm the 11th article so is there any rules that a CA can have only 10 artilces and yes then what shud i do?

My query is regarding the treatment of sale and lease back in case of operating lease,
why do we compare Carrying amount with Fair value , why not selling price, if compensation is given by lessor?