I am finished my loan on first property and then i took second property. If i repay the loan for second property also

will i have to show the income from second house in income tax return for life time. or there is no need to show anything once all the loans are over.

I just want to ask three questions, regarding the unlisted limited company:-

1) First of all, Whether any antique Sculptures bought for the decoration in the office can be shown under Furniture or not???

2) Secondly, if there is any increase in the market value of that sculptures(shown under Fixed Assets in the books), then can we revalue that asset? If yes, then what is the full procedures of Creating revaluation reserves?
3) And Lastly, What effect would be on the Income Tax, of that revalued asset?

hi,

I want to know about process of Ledger Scrutiny?

Please explain me in step by step process for conducting scrutiny of each transactions.

what should i do if any transaction/ledger i find not proper? how can i record it?
please explain

Dear Sir,
I am service tax receiver with liable to payment of service tax under category Transport of Goods by Road. What is the Accounting Code for payment of Service Tax. & Educ. Cess.

Situation - Father sells self acquired proerty (aquisition to selling period - 15 years) and gives a share to his son. Son utilises this money to partly finance cost of his second residential property. Now,
(a) Can this money qualify as a deduction while computing capital gain for the purpose of ascertaining income tax at the hands of the father?

(b) If the answer is NO to the above question, then in addition to Father paying 20% tax on LTCG, whether son will also have any tax liability?

As I understand, if I have two housing property, I will be able to do the following:

1) Property 1 Loan - 1 Lakh principal deduction and 1.5 Lakh interest deduction (self occupied, no income)
2) Property 2 Loan - No principal deduction and no-limit interest deduction + add rental income

I would like to know, if I do not have any outstanding loan against Property 1 (closed by making pre-payment), can I still consider Property 2 as second property and take no-limit interest deduction?

So, from the following, will it be 2.A or 2.B?

1) Property 1 - No loan, No deductions, No rental income, self occupied
2) Property 2 -

2.A) No principal deduction and no-limit interest deduction + add rental income (as this is still second property)

2.B) 1 Lakh principal deduction and 1.5 Lakh interest deduction (considering I have only one home loan)

Thanks in advance for your replies.

hi this is satish i wana know is there any type of tax on direct milk delivery from village to customers in haryan

Our company has received the services from an Advocate.Now we are liable to make payment for Service Tax . Kindly guide me considering the following data :

Bill amount of Services = Rs. 1,00,000/-

Now plz guide that what will be the Service tax on this and what will be the amount of TDS and Final Paymentt to the lawyer ?

whether benefit of sec. 54 EC can be claimed on deposit of rs. 1.00 crore i.e. rs. 50 lacs each in two F.Y. Property is sold on 01/01/2013

hello sir kindly guide me I m studying executive CS in corporate world is CS not enough to work as company secretary is LLM and CA is required
thanks in advance