Hi Friends,

An assessee has purchased a commercial property and let it out for commercial purpose.

Whether the rental income should be shown as income from house property or as income from the business? The assessee is having other business also.

What i understood is that the department is always insist for house property income rather than business income.

What difference it makes if the assessee let out its property along with furniture

Pl. Let me know your views.

Whether Debit balance in Profit and Loss account is reqiured to be set off against General reserves or it can be seprately shown in Assets side under miscellaous Exp.
As its effect in computing Net Worth would be different .

can a company issue shares below its face value?
if co. can issue than what is the procedure to issue share on discounted rate?

I am article and get stipened. whether i can do part time job that is only on saturday or sunday basis. if yes, whether i can show this income under head 'salary'..

As per ammendment in 2007,valuation mechanism in perquisite in respect of rent free accomodation.The tax on basis of population cut by old rate calculating 15% of salary.In what way refund can get by filling in I-TAX return?As there is no specific column for the same in form ITR-1.Please guide me.
DINKAR PANDYA

My query is SH Edu.Cess is applicable for excise duty.

In the previous year, I have raised bills of Rs.1600000, out of I have received payment of Rs.400000 in the P.y., on which I have piad Service tax. In the current year, I have issued bills of less than Rs. 800000. In the current year I am expecting receipt of payments less than Rs 800000 including P.Y. My query is weather i claim exemption from payment of S.T. from C.Y.?

Sir,

I am working for an S/W Company 100% EOU, registered under STPI & Service Tax, we have 2 units (1 Opend recently), I want to know what is procedure for caliming credit on Input Service of newly opend unit.

Sales Billing is centralised (2nd unit registration of Service Tax not required)

Please guide me

Shares transactions are done through out the year. The assessee is a salaried employee. Sale of shares during the year exceeded Rs. 1 crore. Should the assessee go for tax audit. Whether the I. T. Dept. can say that dealing in shares is his business and not his investments.