A friend of mine had sold a residential house property 1 year back, the property was in joint name of his and his cousin.
Now he lives in joint family, their bunglow being in names of his elder family members,He is planning to construct a floor in this paternal property of his.
My question is whether this construction would be eligible for deduction under section 54 of the income tax act as construction of residential house property??
Please reply asap.

Thanks.

We have filed ITR 7 for A.Y 2013-14 but failed to file form 10B audit report for trusts for A.Y 2013-14. What is the remedy available now?

Dear sir,


Can we issue the Form C to party for purchase capital goods for R&D unit

An assessee sells more than one land and earns LTCG out of the sale.He invests the proceeds in one residential house property.
Whether he can claim exemption u/s.54F? Please cite me with a case law..

Thank you

Dear Sir,
I m doing audit of a pvt. co.
i m checking Salary Registers of the Co.
But I have no Idea about It.
Can u please tell me How To do Audit Of Salary Register Of a Co.????

Dear Sir, myself Savan Kasliwal.

My query is " I have borrowed loan from Non-banking Financial Institute of Rs. 3 crore in Pvt. Ltd. Co." I am paying more than Rs. 4.00 lac per month as an Interest.

Whether any TDS shall be deduct against the interest amount?

If TDS shall be deduct, please answer with valid evidence like under which section of Income Tax Act?

If no then also provide valid legal justification.

Awaiting for your positive and prompt reply.

Please do the needful at the earliest.

With Best Regards,


Savan Kasliwal


Thanks for your positive & prompt reply.

Please provide valid evidence for no deduction of TDS in above query.

Awaiting again your positive & prompt reply.

With Best Regards,


Savan Kasliwal

If i wrongly deducted TDS more than actual for the Last Quarter of 2013-14.And it is adjustable.So what would be the TDS Payable amount that should i make show in Balance sheet for year ending 2013-14.Is it be on actual basis or the amount which I've deducted earlier.

Whether revised schedule VI is applicable in branch accounts and departmental accounts i am asking this because in institute study material it is given in old style (not following new format, making the trading and p & l A/c not statement of p & l)but many teacher like Praveen Sharma Sir is using new format i am little confuse about it what to do because by following new format how will we give journal entry of trading accounts...

Dear Sir, myself Savan Kasliwal.

My query is " I have borrowed loan from Non-banking Financial Institute of Rs. 3 crore in Pvt. Ltd. Co." I am paying more than Rs. 4.00 lac per month as an Interest.

Whether any TDS shall be deduct against the interest amount?

If TDS shall be deduct, please answer with valid evidence like under which section of Income Tax Act?

If no then also provide valid legal justification.

Awaiting for your positive and prompt reply.

Please do the needful at the earliest.

With Best Regards,


Savan Kasliwal

hi there. thank you all who are solving queries of mine. i want to ask that i am working as a cuatomer service manager. i want to think to resign now because i am preparing for cs executive and appear for dec exams. if you can suggest me about my decision. am i right or wrong. should i continue? pls help me to take decision.