CAclubindia

Queries Replied : 2116

hi this is CA Devanshi Gandhi from ahmedabad and cleared my CA in May 2008. I am practicing since 2009 as a partner in Ajani & Gandhi

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CA SUNIL GOEL says : Proprietor having 3 businesses
Hi One of my client is an individual having 3 proprietorship firms in his name. The total turnover from all the three firms is less than Rs. 1 crore. He wants to adopt 44AD for 2 of his firms and wants tax audit as per 44AB for the 3rd firm. Is it possible. How ?? Plz reply. Its urgent. Read more at: http://www.caclubindia.com/experts/modify_message.asp?entry_id=880605

kfgfgdfgffdfd says : please reply
rm purchase-1000(20 kgs) vat-4 other expenses-5 total-1009 journal entry purchases dr 1009 party cr 1009 purchase cr 4 vat receivable dr 4 while recording consumption the avg rate (1009/20) ie 50.45 is used. please let me know if the aforesaid journal entries are correct.Also let me know if the issue price(50.45) for consumption is right or wrong

sarah says : Hello my dear
My name is miss Sarah, there's something very serious and important about me that i will like to share with you send a massage directly to my private email (sarahbaby649@yahoo.com) thanks Sarah.

pramod says : loan exp
DEAR SIR, I HAVE A INTERESTING CASE HERE, 1. I AM TRYING TO GET LOAN AGAINST PROPERTY, 2. THEY ARE GIVING ME LOAN TOP OFF , AS THEY HAVE ALREADY GIVING HOME LOAN AGAINST THE SAME PROPERTY AND HOME LOAN IS GOING ON, EARLIER. 3. I WISH TO INVEST THIS LOAN AMOUNT SAY 10 LACS TO MY COMPANY, THEY CAN GIVE US CHEQUE IN THE NAME OF COMPANY AS BEING PROPRIETY FIRM, I WISH TO ENQUIRE, CAN I CLAIM ANNUAL INTEREST OF LOAN AS COMPANY EXPENSES WHEN, I WILL USE THIS MONEY FOR COMPANY EXPENSES AND BANK CAN ALSO DEDUCT THEIR PRINCIPALS A S PER THERE CALCULATION, AS IT WILL HAVE A FIXED TENURE TERM LOAN. 4. SECOND CASE – IF I FURTHER PURCHASE AN INDUSTRIAL PLOT WITH THIS MONEY, IN SUCH CASE, CAN I CLAIM ANNUAL INTEREST AS COMPANY EXPENSES WHEN, I WILL USE THIS MONEY FOR COMPANY EXPENSES. 5. THIRD, SINCE HOME LOAN IS ALSO GOING ON, IN SUCH CASE, I WAS TOLD BY MY CA THAT EITHER YOU CAN CLAIM INTEREST EXEMPTION OF HOME LOAN OR YOU CAN GET INTEREST EXPENSES IN COMPANY EXPENSES, CAN I CLAIM BOTH, INTEREST EXEMPTION AGAINST HOME LOAN UNDER IT RULE OF HOME FINANCE AND FURTHER AMOUNT OF LOAN INTEREST THAT IS ISSUED TO ME IN COMPANY NAME, I CAN SHOW ITS INTEREST EXPENSES AS COMPANY EXPENSES, PLEASE ADVISE. PRAMOD kumarin06@rediffmail.com

ACCOUNTS USS says : Cash Gift
Dear madam, i received cash of Rs. 5,00,000.00 from my uncle as a sale of house plot which is bought by grand-father. because of my father is past-away i received the same.So, it is the cash gift for me. So, 1. can i show this fully amount as a gift ? 2. and if yes then what type of paper need for the proof? Kindly guide me ASAP.