MY QUERY IS AS FOLLOWS

I HAVE A HOUSE IN MY NAME IN GURGAON AND FOR BUYING THAT I HAVE TAKEN LOAN FROM BANK AND PAYING INSTSTALLMENTS. BUT I AM RESIDING ON RENT IN GURGAON .

I AM CLAIMING RENT RECEIPT OF RS 8000/- PER MONTH AND RS. 1,50,000/- AS INTEREST ON HOUSING LOAN.
PLEASE CLARIFY ME THE SAME AS MY IT DEPARTMENT OF COMPNAY DENY TO ACCEPT THE BOTH THINGS AS THEY SAID YOU HAVE TO CLAIM ONLY ONLY ONE BENEFIT. PLEAE SOLVE THE QUERRY AS EARLY AS POSSIBLE. WITH DETIAL OF SECTIONS AND CASE IF ANY.

My friend has cleared PEE - 2 in Nov. 2007 and has been enrolled in the new scheme. Wherein she has to undergo a training of 3.5 yrs. Therefore, wud the CA final attempt be due after 2.5 or 3 yrs of training?
However, I have even read a post saying that the student who have cleared PEE - 2 in Nov. 2007 can appear for finals in MAy 2010.

Further, is the CCPT exam very tough?
And if the student is not able to submit CCPT certificate within 3 months of training then what are the consequences?

what are the importance of SAP in CA.
can any one give me detail of SAP which is related to CA. and also the which as not related to CA...................?

thank you.....................

I have open a PPF account on 13 March,2001 and deposit Rs 25000. Upto March 2007 I have deposited Rs 25000 per year. From thia year ending March 2008 onwards I would like to deposit Rs 70000 per year till 2015. Now if I withdraw Rs 70000 per year in the begining of the financial year say April 2008 and deposit the same by February 2009 will my balance affected.

Hello,
Respected collegues,

One of my client is a sub broker and having commission income.For the income tax purposes his commission income will come under professional income and for audit pupose limit of 10 lac is to be taken in to consideration.But if he is doing daily trding then the turnover of shares will be more than 40 lac .then audit is require or not?.
Being the sub broker ,his main business is buying and purchasing shares on behalf of client,but if he is doing trading of shares in his personal demat a/c then what will be the consiquencies?whether the turnover of shares which are done in his own demat a/c will enough to consider the audit limit of 40 lac or the in the case of subbroker only commission receipt is taken in to consideration.(10lac limit for audit)
Please clarify the query,

Thanking You in advance,
CA Pranesh Agrawal

hi,
Sec 68 of the Service Tax Act of 1994
explains the collection and payment of Service Tax by a Service provider.
But the Financial Act of 1998 Modifided this section and it explains only the payment of Service Tax by a service provider on taxable srevices but not collection of the same from the servuice receiver and it is silent about the collection.
Is it mandatory to collect the Service Tax from the service receiver and which section of the Act explains it defnetly?

Hello,

I work in a renowned media house. We are
publishing a monthly magazine in which various authors all over the world write articles. We have to pay them charges for
the articles. Is it necessary to deduct TDS on this payment to NRIs ? At what rate ? What is the procedure ? Pl anyone clarify ?

Can a person claim 80 C deduction for the fees paid to ICAI to register himself or his son?

As the act says fees paid to any university, college, school or any other educational institutions is eligible for deduction.

In addition, ICAI is Institution of Chartered Accountant of India and it is very well authorized/approved.

i am a artice in a ca firm. we recieved a new audit of a pvt.ltd. co during the f/y2007-08.
i did the audit.
i found that in f/y 2006-07, the co. made a advance payament of rs 500000/- for a machinery and debited under the machine a/c.
in the current f/y they realise that mistake they rectified their mistake by crediting the machine a/c by rs 500000.but before that they have claimed the dep. on that amount. and their income tax return has been submited in income tax. now what should i do?

dear sir one of my recent clinet has paid t.d.s A.Y. 2005-2006 (accounting year 01.04.2004-31.03.2005) on 8/5/2005 even though the same was deducted during the year ended on 31.03.2005. under scrutiy for the same a.y the ITO disallowed all the expenses line contractor & subcotractors payments, payment of salaries etc. he has not deducted T.D.s. on rnet and sponsorship charges the same is also disallwed. The assessee has lost toally in business venture of prmotion business and his business was closed from 1.04.2005 and even not filed return for a.y 2006-2007. I want to file and appeal for him since he is in no condition to pay Rs.26,00,000/- tax charged on him becasue of the above disallowance. in fact he has paid T.D.S. and interest due thereon. Please advice on this case at earliest since my freind/client is working on salary of Rs.20000/- P.m.
please help me in this generous cause.