CA Abhey Gupta

The current government has focused a lot on affordable housing through its various schemes. The government is providing affordable housing loans at less rates. Then the principal paid on loan can be claimed under section 80C and interest under Section 24(b) upto Rs 2 lakhs and a further deduction of interest of 50,000 and 1.5 lakhs under newly inserted section 80 EE and 80EEA respectively. builders government has provided them 100% deductions in profits under a Ti bi a letter study it in detail who is covered 80ib a applies to a builder or developer of the affordable housing society who himself sells the units therefore if a builder is just working as a work contractor then he will not be eligible to claim the deduction Quantum and years hundred percent of the profits generated from that project will be allowed as deduction for other there is no time limit for which the benefit of the deduction can be claimed that is deduction can be claimed for an unlimited number of years general co...

Peer Review consists of two words i.e. peer and review. The word 'peer' means a person in same standing. For example Mr. A and B are CA. They both are peers to each other. The word 'review' means to re-examine and retrospective evaluation of the subject matter. In simple words , review means to inspect the work done by a CA Firm in current and past years. Therefore the term 'Peer Review' means review of the work done by a CA Firm by another CA ( From now onwards will be called Reviewer). Now a question may arise in your mind that who has appointed him to review the work ? The answer is a board setup by ICAI. ICAI has constituted a Peer Review Board. The board has maximum 12 members in which minimum 50% must be CA's. Remaining members can be outsourced but they must be expert in their relevant fields. Now a further question will arise in your mind that why is ICAI through its Peer Review Board reviewing the work done by its own members ? The reason...