CA PARAS BAFNA's Expert Profile

Queries Replied : 9397

I am a practising CA from Surat

Sharing the knowledge is my hobby.

Favourite field of activity is Income-tax .

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Devanathan says : Thanks and need clarity
Sir, thx you very much for your response. have further query, if I let out the new property i am buying, the net interest of rental income i can claim as interest tax deduction?

Harshita Pahuja says : audit
Case Study-firm name=ABC, where A, B, and C are partners. A, B, and C are chartered accountants holding certificate of practice. B is also a partner in firm XBY where X and Y are also chartered accountant holding certificate of practice. Also B does practice as a CA in his own identity. Now C purchased an equity share of reliance company. Therefore can B become an auditor of reliance company, and can firm XBY become an auditor of Reliance company ?

Harshita Pahuja says : audit
Case Study-firm name=ABC, where A, B, and C are partners. A, B, and C are chartered accountants holding certificate of practice. B is also a partner in firm XBY where X and Y are also chartered accountant holding certificate of practice. Also B does practice as a CA in his own identity. Now C purchased an equity share of reliance company. Therefore can B become an auditor of reliance company, and can firm XBY become an auditor of Reliance company ?

KETAN MEHTA says : Service tax exemption
Dear Sir, Pl advice as exemption limit of Rs. 10. Lacs will be applicable in financial year ? suppose in first year if turn over complits at 7 lacs then in next financial year again need to wait till 10 lacs or wait till 3 lacs.

SHIV MOHPAL says : Sorry for using short term
I am sorry to confuse you. RAK is Ras Al Khima which is one of the emirates or part of UAE(United Arab Emirates). Here in free trade zone foreign nationals can own a company with 100% ownership.Thank you.