Hi,

My father received Rs. 80 lacs as beneficiary of life insurance policy of my brother last month. My queries are as under.

1. Can he gift 20 lacs to each one of us i.e. my mother, my wife and myself?

2. If yes, can each one of us invest this money in bank tds and the interest earned be treated our individual income?

3. My daughter will be 18 yrs on 15th Sep, 09, in which financial year her interest income will start being assessed in her own hands?

I would be highly thankful to the community here for the help in answering my queries.

Regards to you.

Kumar

Hi,

I need a clarification on the articleship.I worked as a paid assistant with the CA when iam pursuing my PE2.I worked as a paid assistant in a firm for 2.5 years .I have completed my PE2 recently.Do i have any option of switching off those years to my articleship .Please help me in this Regard.

My friend would like to buy a apartment, he applying for housing loan.
Example now interest rate is 11.5%. In future interest rate will grow, that interest rate will applicable for my loan and it’s come down it also applicable for my loan.
* At present it is right thing to buy an apartment,

would you please answer to my question

Thank & regards
VASU

HELLO FRIENDS,
tHE INDUSTRY IN WHICH I'M WORKING IS SUCH THAT WE HAVE TO FREQUENTLY MAKE PAYMENTS TO TRANSPORTERS HAVING BILTY/GR OF SOME TRANSPORT UNIONS.
1. THE MAJOR PROBLEM IS THAT THE DRIVERS DONOT PROVIDE THE PAN NO OF UNION/SELF.
THE REASON FOR THAT THE TRANSPORT UNIONS MIGHT BE FAKE/TEMPORARY. MOREOVER THEY SAYS THAT THEY DON'T NEED FORM 16 FOR TDS DEDUCTION.
SO WHAT IS THE SOLUTION TO THE PROBLEM.
2. THE DRIVERS DEMAND CASH PAYMENTS AS THEY DON'T HAVE BANK ACCOUNTS.
BUT, WE CAN'T MAKE CASH PAYMENT EXCEEDING 20,000 IN CASH.
SO WHAT IS THE SOLUTION TO THE PROBLEM

if Mr. A transfers a house to Mr.B only by writting it on Stamp Paper and without registration, than can this transfer will be considered valid for income tax purpose ? Will Mr. B become the owner of the house ?

if house is taken on 31st july 2008 and loan on house(not mortgage loan) is taken on 31st october 2008, than whether interest on such loan is allowed as deduction under section 24(b) in Income from house property ?

whether interest on loan other than bank i.e. any other person, is allowed as deduction under section 24(b) ?

Dear Sir
Can we change the balance sheet & p&l figures while filing the ITR revised return?

pls help me

a friend of mine is having her cs final attempt in dec 2008 she is also pursuimg llb in first year now plus she cleared her peii in this july her llb is regular course and college timing is from 7:10am -12:15 pm she has not yet registered for articles what is the remedy when one needs to submit form 112 and is it compulsory to disclose that she is pursuing cs shouls she quit law screwed??????????????????????

i have cleared my peii this july have not yet registered for aricles i got news that after completion of two years of articles i can appear for final exam is it true?
secondly what would be the last date to register for articles if i want to appear in nov. 2010