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...
Dear Sir,
The matter doesn't fall in any of the categories mentioned above.
It is basically fraud matter.
My Son, a PR & daughter in law, a Canadian citizen, have a financial dispute owing to credit card fraud by her foster parents on her credit of six years before marriage in Canada, not revealed and learnt at home loan application stage, seven months after marriage.
Our son asked ...
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 ...
Infosys & SNCF have decided to form a joint venture for providing specialized IT solutions in the Urban and Regional Transport space. SNCF has a deep understanding of the urban, regional and long distance transport business which it brings to the table. Infosys believes it can bring to the table the best in the industry practices from an IT & ITES perspective. It is with this background that th...
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 ...
Sir....I have started working as Life Insurance Agent (LA) with Kotak Mahindra Old Mutual Life Insurance Ltd. since 14th June 2016. Kotak while making the payment of Commission, first Kotak have paid me the Service Tax Component (14+0.5+0.5%) on my Commmission earned with my Commision.The Income Tax @ 5% was deducted over the Gross Commission inclusive of Service Tax component & then Service Ta...
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...
First of all .. I would like to thank you all for making everyone aware of financial knowledge and answering queries and helping all of us.
Let me start with my query about Short term capital gain tax, I have booked a flat in Jan 2013 by paying 10% amount of flat. Then Registration completed in Jan 2014 and Possession letter was given in Dec 2014. I have taken a home loan for the purchase a...
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...
Dear Sirs,
My name is Karim, I'm the owner of Russian company.
I want to:
- export fly ash from Indian supplier to customers in Asia;
- resell fly ash from Indian supplier to Indian customers.
Please give me an advice on how to establish this business.
RE: Exporting of fly ash from Indian supplier to customers in Asia
1. Legal jurisdiction.
Do I have to setup a subsidiary in India, jo...
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...
Dear Sir,
I am employed in abroad.
During free times, I tried searching opurtunities giving HR service to companies. I have emailed to many companies asking opurtunities for HR services and I could get many orders also.
Then, I asked my friend india to register a company and get bank account. He registered one company (as he is the sole proprietor) and got TAN no & bank account etc.. I ask...
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...
Hi,
I have a question regarding the laws concerning taxes and regulations regarding processing a payment.
I am the administrator of a platform enabling two sides: the provider willing to provide and the client in need of a service. The provider can set a price for the service in which case we take a certain procentage as a commission for enabling this user to make money through our platform...
Dear Sir,
We (me and my wife as co-applicant means 50:50 ownership) have booked an apartment of Total value Rs 1,40,00,000 from a Builder. We are NRI and my wife is a housewife . We have NRE/NRO joint account from which the booking amount is paid and rest of the amount will be also paid from our joint account. As per our understanding, each of us has to file 26QB form separately. My question...
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...