Section 80-C permits the deduction for the payment of the amount (including the repayment of the principal component in the Housing loan from the specified persons) towards the purchase/construction of the House property.
The query is whether this deduction for the repayment towards the principal amount is available even if the possession of the property is not obtained during the Previous year?
Unlike for the deduction of the interest on the housing loan u/s 24 of the Income Tax Act which allows deduction in two parts (pre-construction and post construction) means the date of possession is relevant.
Thanks.
Hemendra
please let me know if the service tax is applicable for a laundry services other than dry cleaning?
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We have prepared Excise Invoice as per one of Our Customer and later on he has cancelled the Order & we have not delivered material as on today
How to cancell the already prepared Excise invoice date 19.04.08 & filled april month return.
Please help?
For calculating FBT,Use of telephone (including mobile phone) other than expenditure on leased telephone lines comes under tax net
Does it mean that wired telephone connections taken from for e.g.BSNL,Tata Indicom do not come under the tax net ..i.e. Telephone exp. incurred on these connections
Plz elaborate
company has 2 divisions.for 1 division MAT is getting attracted.
for other division regular tax is attracted.when consolidated it is attracting MAT.
In this case how to provide tax for individual divisions required for provisional balance sheet for bank loan
Section 40A(2)(b)