Tax questions on Income Tax

I had opened e-nps with atal pension yojana

Hello sir Actually I have Opened online Pension account with Atal pension yojana through SBI Netbanking six month ago when i was in business and now i am state govt employee and today i got message and Email like this could you please help me undertsand whats it for and what should i do now ? Subject:  Self-certification of Permanent Retirement Account Number (PRAN) under National Pension Sy...

F.Year 2013-14 returns not filed

Dear Sir, Good Evening. Thanks in advance. I have 2 queries. 1) I have filed my income tax returns up to financial year 2012-13. I have received scrutiny for the F.Year 2011-12, and subsequently it was replied and got order too. Now the audit committee asked some queries for the same year. After issued assessment order is it possible to raise a query for the closed file. 2) From the...

How to file itr for only epf & eps withdrawal...?

Hi, i have withdrawn my epf & eps money in fy 2016-17 (exactly july-2016 to be precise). in fy 2016-17 i do not have any other income apart from epf and eps (since i didn't joined any other company after feb-2016). my epf came with 10% tds since i withdrawn my epf before 5 years (4.8 years to be precise). after referring to many documents i got somewhat confused so i request the ass...

Regarding itr 4s

I have 2 cases: 1. A case having receipt from advocate profession is 7.10 Lacs. No any books of accounts are maintained and profit shown more than 8 % of receipt. Can I file the ITR 4s only providing the amount of receipt, Net profit after claiming expenses. Although statement of income and expenditure & Balance sheet prepared and kept for record purpose. 2. A house wife is running embroide...

Guidance regarding transmission of Demat account

Dear Sir/Madam, I am not sure if this is the right forum to raise this but I need advice and guidance regarding a question I have about transmission of shares in a demat account in the event of death of the sole account holder and the nominee. My grandfather held a demat account in his solo name, he had included my father as a nominee in the said demat account. My grandfather passed away a...

Query on Let Out properties

Hi Team, I need some help from you, its related to Let out property. Actually I have two flats one I have purchased in 2014 and got the possession for the same in April 2016 and in Aug, 2016 I purchased another flat. Both the flats are in outskirts of the city so both have been rented out. This time I was able to declare only one flat in Let Out Property as for the other flat I am yet to pay t...

How to claim retention bonus tax refund?

I was given a retention bonus lets say Rs X (post Tax received approx 0.7x) in Dec 2015 (FY 2015-16) with the condition that if I leave the organization during the next two yeras I would need to return the amount. i'm moving on from my organization in March 2017 and I need to now return the pre tax amount to the company. The organization is saying that since this is in the next FY they will n...

Questions for an informative interview assignment.

Hello, I'm doing a informative interview assignment for a course towards my Bachelors in Business Administration with a focus in Accounting, and I was hoping you could answer some questions for me. I only have ten to ask, and I'd appreciate it if you would be able to take the time to answer them. Question #1: Tell me about a typical day? Question #2: What do you do? What are the duties/fu...

Income from Sharing trading not disclosed so far

Hi, I am a salaried person. So far, I have been filling my income tax basis the form-16 from employer. At the parallel, for past 5/6 years I have some bit of direct investment in share market. I have never reported this income/loss from share investment in my annual ITR. Somehow, the annual assessment from department has been positive all the time. Now, how to get this straight since this...

Tax rebate for the losses in the Ponzi schemes

I have invested a sum of around Rs. 10 Lakh in this FY in couple of campanies (Ponzi schemes). But I only got some of the returns from those companies and rest is all loss. So, Is that possible if I can show that investment or payments towards those companies as capital loss or Theft loss in this FY. I have invested this 10 lakh in mine and my family members name. So, we all got some amount ba...