Smartness of ca

This Shows the Smartness of CAs..:P
REALLY HILARIOUS, MUST READ...

CA Student after passing his CA Final Exams goes to purchase a Property via Broker.



Broker: "How can I help u Sir??"

CA: "I'm an individual & said to be resident in India in any previous year. I’m interested to buy a House Property in Mumbai, India."

BROKER: "So u r interested in purchasing a home for self residence?"

CA: "I already have a Self occupied property (SOP). Now I just want to purchase a new House property (Refer Income Tax Act, 1961 for definition) to make it Let-Out Property (LOP)."
Broker: “So Sir u want 2Bhk or more???”

CA: “I’m interested in Land (Refer Indian Property Act for definition)”

Broker (in anger): “So u want Agricultural Land or Non-Agricultural??”

CA – “By profession, I’m Chartered Accountant & hold COP issued by ICAI (Set up under the act of Parliament) so if I buy Agricultural Land, I wont be able to earn much income until I do not receive a certificate u/s 7(12) as per Indian Property Act, So I’m interested in Non-Agricultural Land.”

Broker (pissed off): “Sorry Sir! No Land available in 90 km diameter, u can get it only near Karjat, Asangoan or even more far.”

CA: “That’s not fair! I think u r hiding records & not giving true & fair information to ur clients. I can Sue u for this.”

Broker (????) – “What??? U can check my Records.”

CA: “Chal ok! From now onwards, u are my client & I will Audit ur Books, My Fees will be Rs.25000+ST (at the rate prescribed)."

Broker: $%^?! @ $%? @ #!%

CA: Ok Thank u, I will start my work from tomorrow. Gud Bye, See U tomorrow!” :D
Replies (1)

what the section 7(12) of Indian Property Act says?

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