My husband works in a private firm in Mumbai. My father-in-law runs his own auto spare parts firm, it is a partnership firm with my mother-in-law where her name is there only for records purposes, but for all practical purposes, the firm is run by my father-in-law. The firm has made huge business losses in the past 4-5 years. The creditors are calling up constantly and my father-in-law has decided to sell his house and assets to pay the creditors. However the amount will still not be enough to repay all the creditors.

I am concerned if my husband's assets can also get attached. He is not involved in the business and is a salaried employee in a firm. Please advise.

Hi all...
I want SBI TT Buying Rate for several date in last F.Y. I tried to serch on SBI Site but it provides only current rates. So pls let me know from where I can get SBI TT rates during previuous years..........

wat if two different companoies have issued me 2 form 16 for same financial year with different returning data

Sir I have a query about the tan no. We have a client who is individual and providing the technical consultancy in the name of a sole-proprietor firm.
Sinch his turnover exceeds Rs 10 lakhs therefore he is liable to tax audit and also need to deduct tax(TDS). My question is that if I have to apply for the TAN no. then whether TAN no should be taken in the name of soleproprietor or in the name of individual.??
Plz reply ....

if a concern is doing business relating to construction,and when they acquire any government contract, then whether they can claim the works contract tax as expenses, which is deducted and paid by the government on behalf of them

If a trust is not registered under sec 12A of Income tax Act, having gross receipts of Rs. 3,50,000 and expenses of Rs. 2,50,000 on the objects of trust for the year 2008-2009,
1) is the trust liable to tax under the income tax?
2) if so on what amount ? ie, on net income or gross receipts.

if the property is registered in the name of husband and a joint loan taken by husband and wife for construction of such house property and both are salaried employee. Total inerest for the year is rs 350000. now they both want to take deduction @150000 each. is it possible?

please help me.

is interest income from post office saving a/c is exemt or not?

i m zenab ca final student.I wnat to go for practise .please guide me that how I work out and what r preliminary requirements before going in this field

Under section 40 A (3), as it has been given that there is a 100% disallowance of "expenditure" if payment exceeding Rs. 20000 is made by any mode other than a/c payee cheque or a/c payee draft, does "expenditure" cover revenue expenditure only or capital expenditure is also covered within its meaning?

Also, i have heard that depreciation on assets acquired by making payment exceeding Rs.20000 by any mode other than those aforementioned will be disallowed. is it true? kindly explain.