hi everybody, i have heard that institute is issueing a new circular restraining transfer during articleship ..i have interacted with various people on the subject but nobody has exact wordings of the circular if anybody has the exact information ..please share

thanks in advance

Dear friends,
This is CA. sachin gupta recently qualified in Nov,2007 attemept.I want to know that Is there any fund/organisation available whether from Our CA Institute or any other bodies for the help of family member of CAs when they are in need in terms of money due to accident.

Warm Regards,
CA.Sachin Gupta
ca.sachin_gupta@yahoo.com

An assessee, an employee in a private concern, purchased in May, 07 a house property in his wife's name (for personal reasons, say future security). Property is let out. The wife is unemployed and has no source of income and is dependent on husband. Document of purchase is in the name of wife only. Loan is availed for the purchase and the loan a/c is in the names of both husband and wife, with wife's name as first obligant. Repayment of loan (monthly EMI) is made by husband only, with wife having no source of income.The assessee has not filed return so far and is filing return for the first time in FY 2007-08 (ie, A.Y 2008-09).

For deducting TDS u/s 192 for F.Y 2007-08, the employer is not considering housing loan repayment u/s 80C for the reason that property (document) is not standing in his name. Similarly, for the same reason, the employer is not considering housing loan interest u/s 24, though the assessee volunteered his rental income to be considered for TDS u/s 192 alongwith salary (the net income from property after interest is a loss).

Is employer's action justified? Please quote decisions / circulars / material, if any, to support assessee's claim.

The assessee cited "CIT v. AJIT KUMAR ROY [2001] 252 ITR 468 DATED 28.06.2001", which the employer ignored holding that the issue there is not TDS u/s 192. The wordings in CBDT Circular No. 8 of 2007 dt. 05.12.2007, cited to employer, are also such that it does not prohibit such a claim. The employer says that circular does not openly provide consideration of such a claim.

Though the assessee can get back the excess tax paid thro' tds as refund by filing return, he wants to avoid tds, since it has heavy impact on his take home pay now.

Please clarify.

AN AMC Contract for the period of Jan 07 to Dec 07 was taken and the same was expensed out entirely in the previous year and the statutory auditor was unable to recognise it, wherease in the current year the same is recongnised by another auditor, then what will be the accounting treatment for such rectification

We want to produce Dense Bituminous Macadam(DBM) that consists of mix of Stone Chips, Bitumen. It is used for road work. Bitumen is supplied by the client(Govt client) on chargeable basis and stone chips is either produced by us or procured. If DBM attracts Excise Duty ?

Hi all,

Friends If someone cleared pe-2 in nov 2007 then His final attempt will be due in nov 2010. (Under new scheme)

But on the other side If a student cleared pe-2 in may 2007 then he will be elegible for final exam in Nov 2009. (under old Scheme)

Friends Its totally unfair for all those who cleared pe-2 in nov 2007, so I want to know-

1. Who will be elegible in May 2010 ?
2. Is There any Students union which can request to Institute, to save the important time of students ?.
3. How can we tell these things to President and other honorable members of the institute.

Please if any body can provide me the E-Mail IDs of CA's 0f All India(State Wise).

My mail ID is vpps08@gmail.com

what is the treatment of cash discount allowed to customer . it is shown in credit side or not in branch debtors account

SOS CALL
KINDLY LET MEKNOW OF ANY GOOD TEXT BOOK TO DO INDIRECT TAXES

Friends ,
I am Akash gulati student of ICSI ........ I have cleared my finals of company secretary December 2007 I am also a student of MBA and have been selected as a business analyst in a very reputed company (One of the leading IT company),I want to take your's opinion as to whether should I go for the training of 15 months or should I join in the company as an MBA in finance is it worth yto leave a job now in expectation of a good job after becoming ACS considering my current pacage is 300000 per annum.....