I am a semi government teacher and for this financial year/(2016-17) applied for refund(My oral cancer detected in feb 16 and operated on mar 16 so applied refund due to deduction under 80DDB).
I got a mail from income tax department yesterday that there was some due on previous years so my refund will adjust if i'll not reply within 30 days.
When i check attachment then they calculated t...
During year 2009, our Housing Society got the ownership handed over by the Builder (promoter) via Sale Deed (Conveyance Deed),
The housing society is a combination of 6 sub-societies, each one having their own Chairman and Secretary
In the conveyance deed, it is mentioned that a certain sum of total amount is paid by all flat owners to the Promoter.
The conveyance deed is signed by all the S...
Hi,
I was a designated partner in an LLP firm for the period 15 Sept 11'- 1 Sept 13 with a capital contribution of Rs.50,000. The annual filing of statements with ROC + return filing was completed for FY 11-12 on 30/08/12.
I resigned from the firm on 1 Sept 13. I did not get the fair share of my profits / assets on resignation / exit, and further I did not withdraw my capital contributi...
hello,
I’m working for an IT company in India who has sent me ( Temporary transfer with local contract) to EU for 2 yrs ( from Dec 2015) , Now my question is I’ll be finishing my two year tenure in DEC 2017 and will return back to India, so will I’ll be treated as tax resident for India in 2017 ?and I need to pay tax in for entire 2017 in India ? as i saw the below rule and is 180 days rule ...
I bought an Under Construction property from a builder in April,2012 under Construction Linked payment plan.Since then we are paying instalments through Home Loan disbursed through Bank.Since June,2013 new law became applicable for deducting 1% tds on every instalment being paid to the builder if property cost is more than 50 lakhs.We paid the instalment of August 2013 due to the builder after ...
Hello Mr Sridhar,
I am a retired senior citizen, living in an apartment in Bangalore.The apartment is registered under society act and has a PAN number also.
The apartment has an indeterminate association with a managing committee of 3 members of which I am one member.
The apartment has interest income from the savings account and FD ( Nationalized Bank) created under mutual contribution...
My situation is as below:
-- I came to USA in Nov 2013, since then I have not visited India (as of today July 2016), my company also filed form 30C for me, I have the acknowledgement, but the expected time to stay abroad was mentioned as 1year.
-- For in year 2014 july, my company filed tax return in India for me, but did not show the foreign income.
-- In 2015 I got some TDS deductions a...
Hello,
i have a question regarding partnership return filing. Let me tell you the situation.
ABC is a partnership business having turnover of 18,30,000/-
Gross profit is 6,04,077/-
Expenses 2,76,108/-
Int on capital 80,310/-
Profit before partners remuneration 2,47,659/-
Partners remuneration is 2,22,000/-
Net profit after partner's remuneration is 25,659/-
No books of accounts a...
Hi,
Recently I received a notice from Income Tax department, which said since I did not file the return in FY 2012-13 so i need to fill compliance options on their website.
My details of FY 2012-13 are as follows:
1. Salary of from Feb 2013-March 2013(since I joined in Feb 2013 only) Rs 20,000
2. Loss from Intraday equity stock trading Rs. (8,000)
3. Loss of short term capital by sho...
Well, as my friend is from a small town where women don't really go to banks so his mother had a part of his father's salary every month and she saved it at home. 2 years back they got transferred in Mumbai and because they were going to need that money so she put that in her new account in Mumbai (but without pan card because there wasn't any big transactions and all). So now because she had t...
how i calculated Salary arrears for AY 2016 -17.... and Need form Form 10 E because my employer did not provide Form 10 E and i provide you info abt my Income below.
Information :-
Salary Arrears slip April 2013 to Dec -2015
Earnings :-
Basic 83140
DA 94672
**Diff. in DA (1067*24) 31080
HRA 25655
CCA 3956
Vehicle allow 79123
Professional allow 29671
Medical allow 2909
Overtime ...
Dear Sir/Madam,
This is w.r.t my income tax for the assessment year 2012-13. I got a notification in the income tax online portal about outstanding demand of around 40,000.00 and I contacted a CA for this. He told me that since the IT returns filed hadn't considered 'deductions under chapter VI-A', it was showing this demand. Hence we filed a revised return in October 2013. However, I am sti...
Hi, I have one very urgent query:
I live in India and my brother lives in Canada and is a Permanent resident over there.
We have to transfer him some funds abroad roughly Rs. 50 lac in a day or two.
These funds are required to buy a house over there on his name.
I have some fixed deposits on my name which are getting matured in July end.
This money was gifted to me by my mother 1.5 years b...
Hi,
I stayed abroad for more than 260 days in last financial year. Being my company is an Indian IT company, and I travelled on business VISA not on work permit, so I received my Indian Salary in India and company paid my allowance in USD dollar (Axis Bank dollar account) to managed my overseas expenses.
Points to remember:
1. I was on Business VISA not on Work permit in last financial...
Sir, I play online lottery through a website called playhugelottos.com. I mailed them and asked whether playing international from india is legal or not. And i also asked about the remittance of the funds if i ever win the huge amount. As i m aware of the FEMA regulations.Below are their reply Thank you for your email.It is important for our customers to note that PlayH ugeLottos.com, and its a...
Sir,
My mother is bed-ridden following cerebral stroke. The authorities of the district hospital have certified her disability extent as 80%. She has a monthly family pension of Rs.6075/- which falls miserably short of the expenses for her maintenance and treatment including frequent doctor visits, medicine, physiotherapy, nursing by engaging attendants round-the-clock. Although my brother co...
Sir,
I am a farmer(61 yr old) and have agricultural income, my son is abroad who generally send money to my bank account to support family expenses.
Yesterday I received letter from income tax department sub "Non-Filling of income tax return" with details like income tax department has received information on financial transactions/activities relating to you and you do not appear to have...
Hi Team,
Thanks for your support always.
I don't have much knowledge about taxation rules.
This if my first onsite assignment. I have been deputed to client location Denmark (Copenhagen) on 25th October 2015. I have been getting indian salary without deducting tax and onsite salary+allowances both into danish bank account in DKK. The onsite salary which i get is after deducting all the...
I have my residence in Noida taken 10 years back and I am planning to close the housing loan of the same immediately. The property is in joint name of myself and my wife and we have been claiming the deduction of 1.5 lacs each for interest paid on this property.
My wife has taken another residential property nearby and possession of the same has been taken 3 years back. Since she had taken loa...
My name is Sandeep Mallya. I live in Bangalore. I have purchased an under-construction apartment in Bangalore. I have taken a home loan, which was sanctioned in oct 2012. First disbursement happened in Jan 2013. There has been delay from the side of the builder in handing over the possession of the apartment. I will be getting possession in July 2016 or later.
In 2015, I purchased a plot in ...