Hello friends,
i am having a query regarding the loan taken for tution (private classes) for child can the interest on the same can be claimed under income tax.... if i am salaried person and if in case,if i am self employed.
fro e.g.,
if i am taking a CA coaching classes and for which i hav taken education loan to pay off fees of ICAI as well as classes e.g.80000 to classes and 22000 to institute.In this case how much amt will be eligible for deduction(interest) under which section.
reply ...

thanks ..............

i am a proprietor

i am not maintaining books of account. now i want to file income tax return.

can i file ITR-4 & use No Account Case...?

how can i check articleship status

Suppose Mr. A is receiving commission income from Amway after deduction of tax at source (TDS). What will be the accounting entry in the books of Mr. A?

Is the following entry correct?

Mr. A (Capital A/c) .......Dr. 9,000
TDS receivable..............Dr. 1,000
To Amway 10,000

If not, what is the correct entry?

is it necessary to deduct tds u/s 194j on amount of rs exact 30000 given to professionals by a company
pls confirm

thanks

We are Manufacturing company producing solar water heater. we import Evacuated Glass Tube from China for the purpose of manufacturing of Solar Water heater, on which Special CVD levied @ 4%. So, this Glass Tubes are Raw Material for us and which are used for producing Solar Water Heater.

My question is whether can our company entitle for Refund u/s 3(5) of Custom Tariff Act. for goods imported from China on which special CVD was levied @ 4 %

Please clarify whether amount received under LIC's Jeevan Arogya Policy is taxable. In this case, amount received is Rs.600,000; premium paid for 2 years is Rs.30,000; actual hospital expenditure is only Rs.85000.
I'm afraid, this query is NOT resolved. While I am quite aware that premium paid is deductible u/s 80D, my query is about taxability of amount RECEIVED under the policy.
Please clarify

Dear All ,


We have purchases a new computer software for accounting work and software Valve Rs. 25000.

pls advise these expenditure deductible under revenue exp. or capital exp. and claim depreciation . and which rate ?
pls also mention Section.

Thanks

Hi,

I aquired a commercial property by taking a loan against property (LAP) on my residential house. I want to claim income tax rebate on the principle and interest of this LAP. Is this allowed and if yes then to what extent?
Note: I have rented the commercial property.

Sir
One of my client is going to sell his Long term Capital asset , a flat, which will earn him a LTCG of Rs 10 Laks.Now for availing the exemption should he invest in Rs 10 Lakhs in new residetial Building or the full amount of sale consideration
Please clarify
Rgds