Can any one please explain me the following:?

_1_ In a house belonging to Mr.X, his cousin is living without paying any rent. He says that since his relative is residing there without paying any rent, there is no rental income chargeable to Income Tax. Is he correct?

_2_which of the following assessee is charged to income tax in the assessment year following the previous year:
(a) a non resident business firm which shipped goods on 1.5.08 at vishakapatnam port in Andra Pradesh;
(b)An employee left India to USA on 1.8.08 with no intention of returning;
(c)ABC firm which discontinued its business on 1.9.08
(d) An employee-assessee of a University who worked during 1.4.07 to 30.03.08.

Here Assessment year is not given so how do we answer this? And what would be the answer?Please help Sir.

hey is it true that ca pcc exams are postponad to june from 1 to 15th june

hi this is shreya from bangalore.
can anyone tell me which is the best coaching centre for cpt in bangalore. plzz m badly in need oif it. urjent!

I have 2 queries:-
(1) For an assessee who is engaged in trading of shares, whether transactions of derivatives (F & O) should be considered for calculating turnover for the purpose of Sec 44AB ?? Take an example:- Turnover from trading in shares is Rs. 35 lakhs, Turnover from F & O transactions is 10 lakhs. Then whether Sec. 44AB is attracted ?
(2) F & O is not delivery based. Therefore only the profit or loss is recorded in the books and not sale / purchase. In that case how to compute turnover of F & O transactions for the purpose of Sec. 44AB ??

Sir,

If the housing loan is in joint name what is the percentage of it exemption each individual can claim pls let me know

dear sir/madam
I have passed pcc nov 08 and my final is due on nov 10 and I want to start coaching classes in may 09.so plz advice me which subject to start early MAFA/AC/COST.
thanks
aakash jaiswal

Sir,

If the housing loan is in joint name what is the percentage they can claim as incometax exemption pls let me know

A private company(WOS) wishes to take club membership on the name of the company or on the name of the Managing Director. The Membership Fee is around 2.00 lakhs. Please advise me how to show in the books of account. Can it be written off as expenditure in the year of payment?

Actually i want to expertise in the Service tax filed in my Chartered Accountancy practice.

What i had to do to gain such knowledge.
i mean please suggest books to be refered.

CA Suresh Choudhary

What is WCT (Works Contract Tax)
Please suggest any site for the detailed understanding of the WCT.

Thanks.
Suresh Choudhary.