Letting of Commercial Property is taxable w.e.f. 01/06/2007.There exists a provision that if the value of aggregate taxable services provided in the previous year does not exceed Rs 800000, service provider would enjoy exemption in the current year upto Rs 800000 of receipts. There is a Company in whose case,rent charged during the year 2005-2006 exceeds Rs 800000.
Will the Co still enjoy exemption in the current year 06-07 since the services were not at all taxable during 05-06 (Services became taxable w.e.f.01/06/2007)

Interest on recognised provident fund was exempt earlier to the extent of 9.5%. It has now been changed to 8.5%. I would like to kmow this change would be applicable from which previous year/assessment year ?

I have subscribed for a Chit of Rs 100000/
I have participate in bid and succeed in draw.I received cash of Rs 80000/after deducting premium of Rs20000(chit Kasar)

I utilised that amount to construct the house.Can I claim that chit kasar as interest under head HP income?

Can I take HRA & Housing Loan Interest Exemption both.

HELLOW SIR
I WANT TO KNOW ABOUT DIVIDEND DISTRIBUTION TAX OUR COMPANY HAS DECLARED DIVIDEND I WANT TO KNOW THAT FOR THE PURPOSE OF PAYAMENT OF DIVIDEND DISTRIUTION TAX WHAT TYPE OF CHALLAN REQUIRED FOR THE PAYAMENT OF DIVIDEND DISTRIUTION TAX.

FURTHER OUR COMPANY HAS TO APPLIED FOR INITIAL PUBLIC OFFER AS CORPORATE APPLIER AND I WANT TO KNOW THAT FOR THE SAME PURPOSE THE RESOLUTION REQUIRED I WANT TO KNOW ANY FORMAT FOR THE SAME.

dear kapil sir,
my problem is that i syudy well in starting but later on it as the time passes on it deteriorates. i have not made any shedule for the study, i study he which i like. actually i dont know the revision technques. some says u should revise fast. but at the time of revision i dont reember anything at the time of revision. so i make starting from the very beginning which take alot of time. i confuses and i leave the study. i was preparing for the first group, my preparation of the corse is about 80 % complete. if i revise. i have chances of passing. but i have lost the zeal required. i am wasting my time.suggest me how to revise. how to revise fast. make me a shedule for the study and revision of II group . i think i can pass that. suggest me a book or notes on INcome tax to study fast it should contain only the relevant matter. help me out!

We are engaging experts for conducting Safety Audit and Training in Mumbai and outside Mumbai which is done in the factory premises. They are used for 3 to 4 days in a month and their payments are as under.

1. Honorarium per day basis -payment by
Account payee cheque.
2. Local conveyance from residence to airport and back Rs.700/ per trip by cash.

3. Daily allowance to meet the expenses on
food,snacks,tea etc Rs 300/per day by
cash.

The air ticket and stay arrangements are done by the company.

Since the item no. 2& 3 are actually incurred by the experts for performing their journey from residence to airport and for the expenditures on the way &stay period, kindly clarify whther TDs is applicable on the local conveyance and daily allowance.

surendranath

As per The Payment of Bonus act,1965., we have to compute gross profit and available surplus. How we have to compute it.
For computation of available surplus , we have to deduct income tax , depreciation as per income tax rule and other sums. Which amount is related to other sum.

If allocated bonus amount is mor than bonus payable , then what is rule of balance set on c/f .

Please help me asap.

Dear sir,
i have been giving ca fianl exams from 2005 may. 5 attempts have gone and this is my 6th attempt. i was preparating for the exams from sep. but due to lack of my Strategy i have in this time too. i have not read for the past 5 days. i have not managed to make a study shedule. can any one give me some useful shdule how to complete the course and how many times revision should be made. tips how to revise the full course within the limited time. i am much depressed.

Suppose X is living in Mumbai and having a Bank Account in Dehli and Y deposit 25000/-
(in respect of any expenses) in his dehli a/c and through core banking X received the payment. Will Y will be disallowed for such payment Under Sec 40A(3) for paying in cash.