Hello Professionals & Experts,
i'm a student a charted accontants of India.i's presently undergoing my internship due to some personal reasons i'v taken transfer from the office of my registered.
it would be great help if u can guide me on the fact that from whome will i have to get my examination form signed,as i won be able to join a office shortly due to the effct of my personal problems.
it'll be great help if i could get a reply back from u soon.
thankyou.

Hello,

As you all know, Central Govt. employees received arrears for the years 2005-06 till August, 2008 as a result of 6th CPC implementation. I request you to kindly clarify on the following points for calculating relief u/s 89(1)

i) Will there be relief even to Gr.A officers who have already been paying maximum tax?

ii) The taxable income figure will be before edu.cess or after for the past years?

iii) If you can show me an illustration for calculating relief u/s 89(1) for the above-mentioned period, I shall be very grateful.

iii) Transport allowance, over and above Rs.800/- is taxable. is DA on TA is taxable? If so, is DA on TA taxable for TA less than Rs.800/- viz., the exempted amount?

iv) If a husband/wife is in joint possession of a house, then against loss of interest on house property, is it necessary that this amount should be equally shared or the ratio can differ? Can I take 70% amount for husband and 30% for wife and simultaneously, in the deductions on principal, take 50% for husband and 50% for wife?

Can I expect a reply soon?

Thanks a bunch.

Regards

Ramaa

Hello Professionals & Experts,
i'm a student a charted accontants of India.i's presently undergoing my internship due to some personal reasons i'v taken transfer from the office of my registered.
it would be great help if u can guide me on the fact that from whome will i have to get my examination form signed,as i won be able to join a office shortly due to the effct of my personal problems.
it'll be great help if i could get a reply back from u soon.
thankyou.

In a company PT is deducted for 12 months & additionally on Bonus also ie., one month Salary. Is it correct for the purpose of Profession Tax (Karnataka Tax on Profession, Trades. Calling and Employment Rules, 1976) ? & what is the impact of the deduction in Income Tax Law?

Sir,

There are 3 seperate partnership firms. I need to convert them in to a New Private limited Company. how to do it without attracting Capital Gain.

When is the next batch for ITT Training for students of PCC?

My attempt is due in Nov 09. Bt I am having coaching classes. So i wanted to know abt the month of next batch so as to join it quickly!

M/s LB is a compny registered in USA.
M/s ILS is a company registered in India.
They are into the same business.The president of LB is infact the son of CMD of ILS.

Now, the family wants to open another company (different business line). Regarding funding, view of the experts is sought.

Whether it would be better if a new company is opened in India? Can LB invest in the new company direct ? What would be the case if the new company is opened as a (a) subsidiary of ILS or (b) the subsidiary of LB? What should be best modus operandi to transfer funds from US to India?

SKG & NG are the directors of ILS. AG (son of SKG) is the NRI & president of LB.
Can AG be appointed as Driector in the new Company and bring in funds as "unsecured loans by director?

Clarification required for One of my Clients

My Client is doing business of General Commission Agents. His Gross Receipts during the financial year 07-08 is Rs.2.50 lakhs and Net Profit is Rs.1.00 lakhs. During the year he purchased a Car in the month of June 2007 for Rs.2.00 lakhs and used fully for business.

Gross Receipts 250000.00 Less: Overhead Expenses:
Administrative Expenses 120000.00 and Depreciation on Car 30000.00 Nett profit 100000.00

Under these circumstances books of Accounts will not be required to maintain u/s 44A of the IT Act 1962, since the Gross Receipts is less than Rs.10.00 lakhs and the Profit is also less than Rs.1.20 lakhs.

Can he claim depreciation on Car of Rs.30000/- since the business without books of accounts.

Determination of Taxable Income of Rs.1.00 lakhs by the assessee is after Depreciation Rs.30000/-, whether it is correct or not.

what are the steps in formation of a HUF? And also what are legal formalities to complied with for the formation of a HUF?

hi,

any body having d latest position for above, please let me know :)