Hi..
Is gift in Kind is exempt from a non-relative.
If Yes then, what if i gift gold worth Rs 5,00,000 to my frnd. Will that be exempt?

If No then at what value tax will be levied.

wat is the minimum and maximum amount of wages on which PF and ESI shud be deducted...according to latest amendment?

Dear Expert,
Whether all the definations of (Sevice tax) taxable services given in the Module of PCC has to be studied from the exam point of view. Moreover when the alloted marks are only between 15 to 20, Is it justifible to study 100 definations along with the list of exceptions, exclusions, conditons etc.

I would also like to mention that the latest edition of V.K.Sighania has not given any definations but have only mentioned the names of the taxable services.

Iwould also sugest to get the clarifiaction from the board of studies (BOS) (Noida) in the matter as V.K.Sighania is in the list of text books recomended by BOS-ICAI

Plz comment.

If a figure of Excise duty paid thru PLA in a particular financial year then should it be tallied with the amount shown in P&L of the same financial year and any balance if there is in PLA should be shown in Balance Sheet's Assets side. The assessee is not able to avail and utilise any CENVAT credit.

ONE PERSON BORROWED A SUM OF RS.300000 ON 1/6/1998 ON INTEREST @ 12% P.A. TO CONSTRUCT HOUSE PROPERTY. AS THE HOUSE PROPERTY WAS STILL UNDER CONSTRUCTION, HE BORROWED ANOTHER SUM OF RS. 200000 ON 1/4/1999.@ 12% P.A. THE PROPERTY WAS COMPLETED ON 31/8/2002 AND "IF" IT WAS SELF-OCCUPIED W.E.F. 1/9/2002. THE FAIR RENT OF THE HOUSE IS 10000 P.M.

Q.1 ] WHAT WILL BE THE INCOME UNDER THE HEAD INCOME FROM HOUSE PROPERTY FOR THE A.Y. 2008-09.

Q.2 ] WHAT WOULD BE INCOME IF THE AMOUNT BORROWED ON 1/4/1999 WERE RS. 1200000 INSTEAD OF RS. 200000.

Q.3 ] HOW MUCH INTEREST CAN BE DEDUCTED FROM "NAT ANNUAL VALUE" (WITH KEEP IN MIND THAT UPTO 1/4/1999 ANY PERSON CAN GET DEDUCTION OF INTEREST UPTO 30000
IN CASE OF SELF OCCUPIED PROPERTY).

THIS PROPERTY IS ONLY LET OUT [LOP].

Procedures in VAT Audit in Karnataka

Pls do the needful

one of my frn is CA,has a office in chd,due to heavy load of work, he opens another office jst 70 km from chd. for running the new office he appointed 3 retired ITO's for his office... my question is that is he guilty of professional misconduct???

earlier response will be highly appreciated...

Rajan Kapoor

What is Share warrants ? Explain in simple manner.

Respected Sir,
during the audit I observed that company written off excess balances recived from customer.as an auditor should I ask for some approval from management?

thanx regards

Ghanshyam

we invested in weekly dividend income plan mutual fund on 01-04-07 and redemed the amount on 30-06-2007. we earn dividend income during the period april to june. Whether the dividend received is exempt or not. please confirm.