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CA PARAS BAFNA's Expert Profile

Queries Replied : 9397

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About me

 

I am a practising CA from Surat 

Sharing the knowledge is my hobby.  

Favourite field of activity is Income-tax .       

 

    What kinds of questions I can and can't answer?
    Direct tax related queries may be addressed. This is my pratice area and I am always interested in handling practical problems of tax-payers.

    My area of expertise
    Income Tax

    My experience in the area (years):
    21 years

    Organizations I belong to:
    Partner ; Bafna Jain & Co. Chartered Accountants,

    Publications or writing which has appeared :
    None

    Educational credentials:
    BSc, FCA

    Award & Honors:
    None

  • karthik says : HRA for two home
    Cuntly am workng n bglr stayng n rented hostel paying rentAlso my parents stayng n chnai which is rented and i am paying rent for that too[Chenai agremnet is in my name oly with lndlrd My question is can i able to claim HRA for both location since both rental agreemts are in my name

  • karthik says : HRA
    Cuntly am workng n bglr stayng n rented hostel paying rentAlso my parents stayng n chnai which is rented and i am paying rent for that too[Chenai agremnet is in my name oly with lndlrd My question is can i able to claim HRA for both location since both rental agreemts are in my name

  • Sunil Kumar Sahu says : Salary Paid Late
    If salary for the Feb &Month2014 of March will receive in the month Of June 2014 how FoRm 16 will be prepared either For 10 month Or 12 month

  • atul says :

  • pramod says : loan
    DEAR SIR, I HAVE A INTERESTING CASE HERE, 1. I AM TRYING TO GET LOAN AGAINST PROPERTY, 2. THEY ARE GIVING ME LOAN TOP OFF , AS THEY HAVE ALREADY GIVING HOME LOAN AGAINST THE SAME PROPERTY AND HOME LOAN IS GOING ON, EARLIER. 3. I WISH TO INVEST THIS LOAN AMOUNT SAY 10 LACS TO MY COMPANY, THEY CAN GIVE US CHEQUE IN THE NAME OF COMPANY AS BEING PROPRIETY FIRM, I WISH TO ENQUIRE, CAN I CLAIM ANNUAL INTEREST OF LOAN AS COMPANY EXPENSES WHEN, I WILL USE THIS MONEY FOR COMPANY EXPENSES AND BANK CAN ALSO DEDUCT THEIR PRINCIPALS A S PER THERE CALCULATION, AS IT WILL HAVE A FIXED TENURE TERM LOAN. 4. SECOND CASE – IF I FURTHER PURCHASE AN INDUSTRIAL PLOT WITH THIS MONEY, IN SUCH CASE, CAN I CLAIM ANNUAL INTEREST AS COMPANY EXPENSES WHEN, I WILL USE THIS MONEY FOR COMPANY EXPENSES. 5. THIRD, SINCE HOME LOAN IS ALSO GOING ON, IN SUCH CASE, I WAS TOLD BY MY CA THAT EITHER YOU CAN CLAIM INTEREST EXEMPTION OF HOME LOAN OR YOU CAN GET INTEREST EXPENSES IN COMPANY EXPENSES, CAN I CLAIM BOTH, INTEREST EXEMPTION AGAINST HOME LOAN UNDER IT RULE OF HOME FINANCE AND FURTHER AMOUNT OF LOAN INTEREST THAT IS ISSUED TO ME IN COMPANY NAME, I CAN SHOW ITS INTEREST EXPENSES AS COMPANY EXPENSES, PLEASE ADVISE. PRAMOD


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