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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varathu.anuraj says : query
Pl clarrify me. If a Director of Pvt ltd., takes an amount of Rs. 5lakhs from company for his own use. The assessing officer, treat it as deemed dividend u/s.2(22)(e). So, the company has to pay dividend distribution tax. After some period, the director repay the same amount to company(say 7 months). at the end of period the company declared regular dividend to the shareholders. so, once again the company has to pay the dividend distribution tax for regular dividend. The company can deduct the earlier tax from paying the subsequent tax. is it possible?

Venkateswara Rao Sapare says : A Request
Dear Core Team and Loyal members of CA CLUB INDIA Kind attention : Hall of Fame. It is pathetic on us to see the socalled “RESOLVED QUERIES” in (1) Expert Section (2) Forum Section and (3) Blog Section. There are queries just attempted with no substance, are categorized immediately as ‘RESOLVED”., which leads our community to wrong direction. The (1) Core team and (2) Loyal members of “CA CLUB INDIA”, need to give their precious time and analyze the “RESOLVED QUERIES”, and see that the members of CA CLUB INDIA are on right path. Else with wrong/misleading RESOLVED QUIERIES / ANSWERS, many may be at ECONOMIC LOSSES, in turn may see this CA CLUB INDIA at an awkward situation. I request you all to focus your attention on this issue, if you feel this grievance is genuine. Pardon me, if it hurts the sentiments of some of our fraternity. Thanking you. Venkateswara Rao Sapare Hyderabad.

K. meharnath says : section 54F
Hi, I have invested 75% of the net consideration amount in purchase of a new house & I plan to invest the remainign 25% of the net consideration for the improvement, repair of the new house bought. To what extent is the exemption vide section 54F avaialable to me. Kindly reply to meharnath@gmail.com.

Rohit Kumar says : Exp.
Dear Sirs. This the matter of a charitable trust. I have an estimate for purchase of painting material for the building of trust, on the basis of estimate i have made an advance payment of Rs. 2lac on 26th March, 2010 against the full amt. of Rs. 4 lac, but material was supplied in the month of April, 2010,and bill has also made in the month of APril, 2010. Now the problem is that can i claim the exp.in the financial year 2009-10. Kindly reply at your earliest.

Member (Account Deleted) says : Home Loan 80 C Deduction
Whether loan from Relative for House Property eligible for 80 C Deduction, also whether Loan from Public Limited Co. who is my Employer eligible for deduction?