Housing Loan Interest:
In case of Housing Loan to Bank employees generally two accounts are maintained
• One for Principal
• One for Accrued Interest
First principal is adjusted from the repayment and after wards, interest is reduced.

Now, what would be the treatment in Income Tax return:

• Should we take the deduction of total repayment amount as principal repayment in 80 C ( Up to Rs. 1 Lac ) and the accrued interest too U/s 24 B ( Negative income up to Rs. 1,50,000).

Or

Some other treatment.
Please Clarify.

CA Alok Goel
M - 9837080659

Hai,

A company is incorporated on 13/11/2012. how can i treat the following items, paid in the month July 2012 , in P/L account and Balance Sheet?

1. rent paid for 6 months from July 2012 to Dec 2012 Rs 10800 each
2. rent deposit paid Rs 40000
3. electricity charges before incorporation months
4. advertisement expenses Rs 6000
5. Tally software charges, audit and inspection fee RS 39000
6. franchise fee Rs 100000
7. training and travelling expenses
8. registration and filing charges of MoA, AoA and Form Rs 7355

Pls help me

Suppose Xyz Ltd. co. received a renting or hiring motor vehicle service from Mr. A who is an individual. In the books of Co. if company recorded this transaction as: Conveyance Exp a/c Dr. To Cash. a/c So in the hands of company service tax reverse charge liability arise or not on this cash transaction. (Party name does not arised anywhere in the books ) Please reply me for proper guidlines.

As per new companies act, casual vacancy of auditor office due to resignation can be appointed by board within 30 days but such appointment is also approved by members in general meeting within 3 months of reccomdation by board. my question is whether ADT 1 is to be filed within 15 days from board approval or general meeting approval. any views?

Hello I want to know if anyone has filled form for ca final both group but unwantedly if he/ she unable to appear for exams not even single paper , will it b counted as attempt?? That I am aware of ki mark sheet won't come .Please aware me of all details regarding this.
Thanks

please reply in brief for following Case

Service tax on out of pocket exp.
intercontinental consultant technologies P Ltd. what fact of the case please reply with appropriate answer,

Hi
I wanted to know that can a non-commerce student apply for CPT directly or must I read some books before going for CPT?
What other books must I read before I go for CPT?

I doing job in a company on contract basis for 3 months which may be renewed for further 3 months and so on. Monthly payment is Rs. 20000/-. Is company liable to deduct TDS u/s 194C?

Dear All,

Is a CA Final student is eligible to do CISA course conducted by ISACA? Or is it only for qualified Chartered Accountants?

Thanks & Regards
S Menon

whether interest income charge service tax also as apply in 194 J and 194 C section.while issuing bill.