CA.ViVeK M ACA's Expert Profile

Queries Replied : 1188

MY SELF VIVEK M

FACE TO FACE CLASS FOR THE SUBJECTS AUDIT AND ASSURANCE, ADVANCE ACCOUNTS (GROUP 2) DIRECT TAXATION, GST. @ COCHIN

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Member (Account Deleted) says : advanced accountancy
I want to know which book is most suitable for studing advanced accountancy at PCC level

Santhosh Poojary says : pls help me
hi sir, i am giving my IPCC attempt at nov-2009. i cant go for clas because of wrking hrs(BPO).i can give hardly 4 hours daily, is it enough for passing IPCC/PCC at first attempt? pls give me some idea regarding self study. making notes is very time consuming is there any alternate? pls help me sir,i am in very pressure situtation.i hope u will give me some proper direction... THANKS IN ADVANCE.........

Vinod Savla says : 80 IB (10)
The concerned section under I.T. Act is 80 - IB. The assessee has carried out a housing project consisting about 127 bunglows on a piece of land admeasuring about 5 acres. All other conditions under section 80 IB are duly fulfilled. Every Bunglow has a "Porche" of around 180 sq. ft. All bunglows are sold and sale documents are registered wherein the built up area of each bunglow is less than 1500 sq ft. The Architect has given the certificate that the builtup area of each bunglow is less than 1500 sq. ft. The Local Authority (Grampanchayat) has given the certificate that the built up area of each bunglow is of less than 1500 sq. ft. According to Bye Laws of Nanded Muncipal Corporation (The Grampanchayat is in the vicinity of the Nanded Muncipal Corporation) the "Porche" area is not to be included in the built up area. Now : Out of 127 bunglows the total built up area of each of 17 bunglows will increase the prescribed limit of 1500 sq. ft. if the area of "Porche" is included.. The A.O. wants to include the area of the Porche to these 17 bunglows and reject the entire claim of deduction u/s. 80 IB. The query is : 1) Whether the A.O. is right in his approach of disallowing the entire claim of the project 2) Whether a proportionate claim can be allowed as the scheme exceeds the prescribed limit of 1 acre. Can you give any specific case law or suggest any reading.

Ankeet Vora says : GMCS Course
thank u sir for ur kind reply.....looking forward for ur responses to guide me ahead

Sreedhar Atchutuni ACA,GradCWA says : Sec 80JJA of Income Tax Act.
a company is collecting and processing organic manure into organic fertilizer and claiming dedction u/s 80JJA. can the company claim the deduction as that section contempaltes collection and processing of bio degradeable waste into bio fertilizers.please submit ur answer soon and iam also a member of this. thanking you have a good day