a property is owned by tw people , however the housing loan is in the name one person only. There is an understanding b/w the parties and half the loan is shown in the 2nd parties books in the name of the first party.
Is this correct, the 2nd party is claiming an exemption u/s 24 as half the interest is being paid by this party to the 1st party in cash.

what will be the formula for calculating personal net worth of an individual?

in our previous year (06-07) balance there is showing work in progress Rs.7 Lakh, my query is : that Rs.7 Lakh will reduce or not from the current year income, pls clarify.

If a salaried employee is having an income from trading in shares which ITR he has to filed, if he has already declared the income from share and included in the form 16 under the head income from other sources

Dear Sir,


My query is regarding interest received on fixed deposit with bank. I made an FD with ICICI Bank as on 15/07/07 and it matured on 14/07/08.The FD was for Rs.150000 and its maturity value was Rs.160184.On this bank has also deducted Tds @10.30 percent. My question is whether the interest income on FD is income for the A.Y 2008-09 OR FOR A.Y 2009-10.

Secondly If the interest income is the income for A.Y 2008-09 can I claim refund of TDS deducted by the bank on interest income of Rs.10184, since my net taxable income is less than the taxable limit i.e. Rs.110000.


Can I now submit to bank form 80G,When a TDS has already been deducted though I havn't encashed my FD as yet.

I want to know the accounting treatment of F & O transaction. As i hv read in Expert Query that difference of receivables & Payable regarded as Turnover.

Then, How it should incorporate in Books of accounts.

pls tell the procedure Regarding the Change of Pass Ward

what is the full form of CST NO. & meaning ,uses & benefit of it? To what kind of companies it is applicable?

Hi

I have the problem regarding filing of income tax return, i was submitted address of my native place during PAN application, i got PAN according to my native place address, but now can i file my return from Pune temporary residence address.