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Recent Posts

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Discussion / Re: Deduction u/s 54
« Last post by camanoj2104 on April 28, 2016, 08:56:28 pm »
DEDUCTION ALLOWABLE EVEN IF BORROWED FUNDS ARE USED
CA MANOJ GUPTA
JODHPUR
09828510543
2
Discussion / Re: corpus donation
« Last post by camanoj2104 on April 28, 2016, 08:38:43 pm »
IF U FILE ITR 7 THE CPC WILL LEVY TAX ON MMR ON THE ENTIRE CORPUS DONATION
CA MANOJ GUPTA
JODHPUR
09828510543
3
Discussion / Re: deduction of Interest on unsecured loan u/s 24b
« Last post by camanoj2104 on April 28, 2016, 08:37:38 pm »
section 24(b) talks of interest on borrowed capital only. Is does not talks about from where to borrow so u will get deduction .
CA MANOJ GUPTA
JODHPUR
09828510543
4
Discussion / Re: corpus donation
« Last post by Shubham Gupta on March 17, 2016, 01:11:23 pm »
please as the matter is urgent for me
can anyone help me out..... ?????
5
Discussion / corpus donation
« Last post by Shubham Gupta on March 17, 2016, 01:09:02 pm »
please if any member can help me
i've got a case in which a institution not registered u/s 12 has received a corpus donation of Rs. 50,00,000
the institution is also not attracting section 10(23)(c)
what will be the tax calculation
is there any way by which we can save the tax...???
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Discussion / Good news for professionals
« Last post by brettlee on February 29, 2016, 05:51:31 pm »
Professional having receipts up to 50 lakhs can opt for presumptive taxation and there is no need for maintaining tedious books of accounts. This insertion is impact of Justice Eswar Committee report.
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Discussion / deduction of Interest on unsecured loan u/s 24b
« Last post by priyankargada on February 29, 2016, 04:19:49 pm »
Hello all,

I have borrowed funds from my sister to acquire a commercial property which was subsequently rented out. Can i get the deduction u/s 24b for the interest paid to her? if yes, is there a judgement supporting the same?
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Discussion / s.203(3) amendment w.e.f. 1/10/14
« Last post by rajul5234 on February 19, 2016, 01:23:14 pm »
Gujarat high court. SCA 1623 / 2015. Dt. 5/2/16. Tata teleservices and others

Held, s. 203(3) amended by Finance No. 2 Act w.e.f. 1/10/14 is NOT retrospective in nature.

R K Patel
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Discussion / Deduction u/s 54
« Last post by kinjalpandyaca on February 13, 2016, 05:56:36 pm »
Sale of residences House Long term capital gain arise.
For deduction u/s 54 purchase new residence house by borrowed fund only than deduction allow?
 
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Discussion / Depreciation
« Last post by Myitat on February 05, 2016, 02:42:49 am »
Dear all
Plz give your views on the issue that when an asset forms part of a block of assets.
An asset is purchased but not put to use during the previous year of its purchase then whether its actual cost be taken as "actual cost of assets falling in the block of assets acquired during the previous year" u/s 43(6)

Take an example
Opening WDV Rs. 13000 with X asset in block
Actual cost of Y asset acquired but not put to use even for a single day Rs. 6000
Money payable on sale of X asset Rs. 20000
Now whether to consider cost of 'unused' asset in wdv u/s 43(6)?


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