Manikanta Raju CA,CWA,(CS)'s Expert Profile

Queries Replied : 75

About me

I am a qualified Chartered Accountant and Cost Accountant too (All india ranker in CWA Inter and also in Final). Now I am pursuing Company Secretary Course ( Cleared 3 modules (Out of 4) of CS Professional Programme). My hobby is to learn something new every day.

I believe success of a good professional is possible only by way of constantly updating his knowledge.

I did my article ship in a reputed firm where I was specialized in taxation matters and now I have joined an MNC in finance department but still the crush on Income Tax is going on………..

I am here for updating my knowledge and sharing things which are useful to all the members of the community and more…

Thanks for visiting my profile, have a nice day……..!!!!!!!!!!!!!!!

Catch me @ MrTriplet (twitter account)

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Ratan Sharma says : 148
Sir, I have submitted my clients Revised Return of Income for the A.Y. 2007-08 on dt. 5/5/2008 claiming refund of Rs. 85000 on account of relief u/s. 89(1) & deduction u/s. 10(10C) as my client has taken voluntary retirement from SBI. Request letter for issue of refund filed from time to time. The ITO has not processed the return u/s 143(1) till date. Now as on today he issue notice u/s. 148. The time limit of processing the return expired on 31.3.2010. What is the recourse available with me. Plz guide. Shall I challange the notice u/s. 148 as the return is not processed u/s. 143(1)? Wt should be done?

Harsh says : Joint House property
I have taken a home loan for self occupied property, jointly with my father and brother. The property also register with name of all three borrowers but there is no clear ratio has described in registry. but all EMI are paying from my account . Requested to please clarify on taxability on interest and principal repayment. Can I can claim 100% deduction or required to claim in equal ratio i.e 33.% It will more beneficial to me if reverted with reference of any case law. and can we now define our share by aggrement. Pls revert on hchaturvedi@rediffmail.com my employer is not accepting my claim.