Tax questions

Nri property sale transaction - tds query

Hi, I am planning to buy 2 bhk flat in Pune from NRI for cost of Rs 63 lakhs. NRI has Indian PAN card(Mumbai address) currently lives in Dubai. He purchased this flat from his NRE account as investment in year 2008. Address mentioned in property documents agreement between seller and builder is his Dubai address. I will be paying 33 from my own saving and 30 lakhs from home loan. Amount f...

Capital gains tax liability of legal heir

A residential property in Delhi in the single name of my mother (father expired in 1991) was sold in April 2013 and the sale proceeds (received through Pay Orders) was deposited in her savings bank account. Me and my younger brother are the only two legal heirs of our mother. Some portion of the sale proceeds received was utilised in purchasing a built up residential property in Delhi in August...

Sale of apartment in Gurgaon

- I bought an apartment in Gurgaon March 2004 for Rs. 16.5 Lacs from Army Welfare Society (AWHO) through a sale agreement - For purchasing the apartment I took a loan from IDBI Bank. The loan was only in my name - I was the sole applicant - In February 2008, the sale agreement was registered in Gurgaon court through a conveyance deed. The conveyance deed was executed by the AWHO in favour of ...

Arrival day ( around 1020 pm) to India to be counted as full day

We arrived late into India around 10.20 pm to 11 pm in the night. And we have e-tickets showing passenger names, name of airline, the flight number, the confirmation number or record locator number, departure and arrival time shown on e-tickets and immigration stamps in our passport both before boarding at Frankfurt and arrival in Delhi for the day of travel and second and third time for travel...

It claims

My husband is a doctor who relocated to India this year with an income of 24,00,000 per annum. His TDS deduction is 10percent per month from salary. 1) He has invested 1.5 lakhs in PPF, one under his name and one under my(wife) name each. Please suggest what amount of tax exemption will he get from this investment. If the tax assessed for the year 2015-2016 is 5,45,000 for instance, is 3 la...

Tax on PF withdrawal

I retired from a PSU at the age of 60 yrs and withdrew my entire PF then (that was maintained by Trust). After four months of my retirement from PSU in 2013, I joined a private firm in regular role and retired from this company after attaining age of 62 in July 2015, as per policy of this private organization. I am continuing to work in this private organization as an individual consultant and ...

Regarding outstanding tax demand which I see after I login

After I login today (23-09-15) at IT site I see "my pending actions" flashing. Clicking this shows me details of out standing demand. "Date of notice u/s 235" is written on top: AY is given as 2011-12; "Section Code" is given as 1431a; Next a DIN number is given; Date when demand is raised is given as 13/01/12; Outstanding amount is given as Rs 400/-; Under "uploaded by" Jurisdictional AO is st...