Service tax /income tax/accounts
This query is : Resolved
12 February 2013
1.one of my client is starting a new HR consulting firm (HR sourcing - proprietory biz). Is it necessary to register for service tax number and will he be an input service distributor
2.same client has bought 2 computers on his friends credit card for the purpose of his business. how can this be shown in the accounts as assets of the his business
3.if three people take a loan to buy a house,will the deduction for interest paid towards house be 4,50,000.
Thanks in advance
2.same client has bought 2 computers on his friends credit card for the purpose of his business. how can this be shown in the accounts as assets of the his business
3.if three people take a loan to buy a house,will the deduction for interest paid towards house be 4,50,000.
Thanks in advance
13 February 2013
Q.2 - You can show the amount as loan to friend and corresponding Asset as fixed Assets.
Debit Computers (Fixed Asset) and Credit Friends Loan Account.
Debit Computers (Fixed Asset) and Credit Friends Loan Account.
13 February 2013
Q.3 Each individual will get deduction of up to a limit of 1.5 lacs in case of self occupied property and without any limit in case of let out property.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Gift of mutual fund units to daughter
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- TDS ON CASH WITHDRAWALS...
- Not able to file ITR
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
