Hello
I want all the rules regarding ding manual accounting and also doing audit and vouching of manual maintained accounts?

dear all

one of our client has paid rs. 2,00,000(2 lac)to the owner of the flat as heavy deposit which is without interest & it is refundable after L&L period, . the agreemnt for leave & license is of 11 months. every month he is paying rs.800(approx)maintenance charges to the owner.

my query is will the tenant will be allowed deduction u/s.80gg of rs.800 pm?

what will be income for the owner ?

I HOPE MY QUERY IS CLEAR

Status : Individual Previous Year Ended: 31.03.2008
Assessment Year : 2008-2009
-------------------------------------------
Gross Salary - 503,551
Less: Exemption U/s 10 56,850 Less: Professional Tax 1,945 Gross Total Income 444,756

Deductions Under Chapter VIA Under Section 80C
Life Insurance Premium 103,018
Provident Fund 16,128

119,146
Restricted to 100,000
-
Total taxable income 344,756
or
344,760
Tax on Income other than STCG 52,428
Education Cess @ 3% 1,573
54,001
Tax Deducted at Source 36,805
Interest U/s.234A -688
Interest U/s.234B -1,376
Interest U/s.234C -636 2,700

Self Assessment Tax 19,896


The interest which i calculated is correct or not. if it is wrong what is the correct interst amount for the assessment year 2008-09

We are registered for 6 (six) services. At present we file separate return for each service manually.

Is it possible to file separate return if we go for e-filling ?

Please help me.

Regards
Parimal A.Patel

Why even the successful practicing CAs are not encouraging the new CAs to go in to the Practice.

Is individual practice failure these days? because one of senior CA i met few days back he told me you will not be able to exist in the market unless and untill you join any experience CA like him.
Please express your views specially practicing CA's.

If the service tax department has issued the notice under section 77 (c) for the clarification of the payment made to a contractor towards construction contract and if the party does not reply within period allowed what are the consequences.

Is there any chances of getting waiver of penalty applicable.

IS the TDS towards VAT in case of works contract an expence to the contractor? whether it be allowed in computation of taxable income of the assessee for the year?

I submitted this question 30 hrs before. i could not get reply. i think question is not understood. so this details
We are pwd contractor and get contract reciept(sales) from govt for work done. In said contract receipt they deduct 2% to 4% towards TDS VAT as agreed upon. Is this an expence for us? can it be claimed as an expence in computation of our taxable income of the year?

MY Assessee has 6 trucks, is he applicabile to sec 44AE.

Hi

I completed my CA training just 3 months back & joined a MNC on a handsome package in Chandigarh.

Now I am thinking about leaving the job & starting Practice in Chandigarh.
Can you plz suggest me if its worth to leave job for Practice??

Also People says that Practice will definately run good if I keep patience.
In case Practice does not get successful & again I have to do job, will I be having same worth in market as I am having today?


Regards
CA. Paras Gupta

WOS of a US company has incurred share transfer expenses on behalf of Parent Company. The expense does not relate to Indian company. It has to be definitely debited to the US parent company. But, how could we do it? Is it by way of raising a Debit Note or is there any other mode? If invoice is to be raised for the same, is margin to be included as per Transfer Pricing?

The issue is pending since long. Could you please give us the best recourse .