Dear all

I TAKE LOAN FROM BANK ON 01.06.07 (2007-08) FOR RESIDENCE HOUSE , RESIDENCE HOUSE COMPLETED ON 01.02.08 , WHICH AMOUNT I CLAIM FOR INTEREST ON HOUSEING LOAN ?

INTEREST FOR 2007-08 = 71600
PRINCIPLE AMT. FOR 2007-08 = 10000

CAN I
1- CLAIM INTEREST ON HOUSEING LOAN FOR 71600 IN FY 2007-08
OR
2- CLAIM INTEREST ON HOUSING LOAN 71600/5

PLEASE CLEAR

I m a PCC student & have completed 13 months of articleship. i have my attempt in May 2009. Can i get leave before completion of 15 months of articleship?
OR
is it mandatory to complete 15 months articleship for appearing in the exam and then take the leave?

Please let me know the provisions of leave.

X isd having Rs. 15 lacs in his superannuation fund. She EITHER wants to transfer 2/3 of balance to LIC annuity plan and rest want to receive as commuted balace OR transfer whole to LIC annuity plan.
What is Tax and TDS liablity in either case.what should she do

Please tell me VAT on Fixed Assets my Register on work Contractors ,
fixed assets for business not for sale

My client is converted from parternship firm to company as on 15th april 2007 and its partner capital was converted into share capital of the company.
For the purpose of calculating average working capital turnover ratio,as on 31st march 2008,should i take WC of partnership firm as on 2007.

Hi all,

Acutally bank charges a commission on collection of amount through credit cards. Furthur on that commission plus ST is also charged by the bank.

i)Can we avail the input credit on ST charged by bank?

ii) Do we need to deduct TDS on Commission paid to the bank?

Dear Experts,
Greetings.

Can your goodself reply for the query
1) an organisation have more than 20 employees out of which less than 20 employees say 15 have gross remuneration upto 6500/- and others have remuneration more than 6500/-

PF Act apply or not?

Regards

R. 14 (2)(c) of Schedule III to wealth tax Act reads as follows:

"the value of an asset not disclosed in the balance-sheet shall be taken to be the value determined in accordance with the provisions of this Schedule as applicable to that asset"

Doubt:

i cant contemplate an asset which is not disclosed in the Balance sheet.

can u help me? Please.


Another doubt:

S. 2 (ea) of the wealth tax Act defines the term asset. It is an exhaustive definition, since it uses the word 'means'.
Life interest is not covered there.

Then what is the need for R. 17 of Schedule III of wealth tax Act.

This rule talks about the procedure for valuation of life interest.

please provide me knowledge in these areas.

R.Soumyanarayanan FCA Grad CWA.

sir
ihave to fill form for ca articleship . i am also doing MBA from symbosis. (correspondence). i want to know whether i have to get permission from institute. plz answer.

Hi Friends...
If i receice a gift in cash from spouse of brother/sister of parents, is it exempt or taxable? If exempt, then upto what limit is it exempt?

What formalities do i have to fulfill to show that amount as gift (like any affidavit or any thing like that & what will be the text of that affidavit)?
Plz reply...

Thanx...