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what all are the aspects to be covered in tax audit

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student
48 Points Posted on 01 October 2007
please specify me what all are the aspects to be covered during tax audit..what is the limit for loan to be recieved in cash?..whether an let out property can claim interest on loan upto 150000..and wht is the limit? when do a person can claim interest on loan in house property..any amendent has came into consideration in those cases???
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On 01 October 2007 at 21:16 Report
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Profession
46 Points Posted on 01 October 2007
hi, the limit of loan should not be more than Rs.20000/- as per sec.269SS. On let out property interest on housing loan not limited to Rs.150000/- but on self-occupied house property the limit of interest on loan is limited Rs.150000/- i think this will solve ur query.....
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On 01 October 2007 at 22:17
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Chartered Accountant
4772 Points Posted on 02 October 2007
See files section .......search taxaudit ........you will get enough of knowledge about these
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On 02 October 2007 at 14:51
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Chartered Accountant
3847 Points Posted on 02 October 2007
Caclub files section will silve the problem. Above all read carefully the relevant sections in Income-tax Act, 1961
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On 02 October 2007 at 15:22


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