I have a query on house property.

There are two assessee X and Y. Both own the property equally. But EMI on loan is paid by X and the benefit was claimed by Y on the Interest and Principal amount in his return of income. But Y haven’t claimed Stamp duty charges and registration fees U/s 80C. Now X who haven’t filed the return can claim such expenses u/s 80C.

My Client is doing business of Travel Agent. His Gross Receipts during the financial year 07-08 is Rs.5.00 lakhs, Administrtive Expenses Rs.3.25 lakhs and Depreciation on Car Rs.0.75 lakhs and Net Profit Rs.1.00 lakhs. Under these circumtances the books of accounts will not be required to maintain u/s 44AA of the IT Act since the Gross Receipts is less than Rs.10.00 lakhs and Net Income is also less than Rs.1.20 lakhs.

He purchased a car for Rs.5.00 lakhs during the financia; year 07-08.

Can he claim depreciation on Car Rs.75,000/- since the business without books of accounts.

sir
A govt. servant joined his service in Nov.2006. He has received his arrears this year as per the 6th pay comm. recommendatoins. since his total income for the year 2006-07 is less, can he show his arrears in his 2006-07 income to decrease his tax liability.

Thanking you
Rajinder Singh

My annual income is not taxable. My father transfer rs. 5 lac to my account and I paid it to contractor than is that amount taxable?

If my father transfer rs. five lac to my account for the payment to contractor,then is it taxable portion for me?

WE ARE A PROP. FIRM AND WE HAVE ALSO AUDITED OUR ACCOUNTS IN THE PRECEDING YEAR (2007-2008) SO, THAT'S WHY IN THIS YERA WE ARE LIABLE TO DEDUCT TDS ON EVERY PAYMENT BUT WE DID NOT DO THAT, NOW IN THE END OF DECEMBER 2008, WE ARE APPLYING FOR THE TDS NO. AND WILL START TO DEDUCT TDS. NOW WE HAVE TO DEPOSIT OUR ALL FINANCIAL YEAR'S TDS WHICH WE DID NOT DEDUCT OR ONLY THE FUTURE TDS OF JAN. FEB AND MARCH.

PLEASE REPLY ME SOON.

Pls help me in my difficulty,

I want to know what is the treatement of Debit And Credit note in the accounting system?

When debit and credit note is being sent
ans by whom it is being sent?

If u have a example regarding said difficulty pls explained it by way of
accounting entry?

And what is the entry of Debit and Credit note in the books of account?

Pls help me.................

Sir, If an Indian Company imports goods by chartering a flight and the agent for this is outside India and payment is made to the agent by remittance in Foreign Exchange. Is Service Tax Applicable for the Importer as a receiver of service ??

HONOURED MEMBERS...PLZ RESOLVE MY QUERY.

I M A CA FINAL STUDENT AND DOING ARTICLESHIP.THERE WAS MY COLIGUE , PCC STUDENT UNFORTUNATELY DIED IN A ROAD ACCIDENT.SO PLZ SUGGEST US WHAT ARE THE PROCEDURES WE MUST FOLLOW TO TERMINATE HIS ARTICLESHIP.....?..ITS VERY URGENT!

Sir, I want to know the procedure of application for industrial training.

Can I go directly to the company which is eligible for this purpose and hand over my CV to them?

Sir Plese do tell me that what is the procedure on ''ground reality''?