Rupesh
07 April 2014 at 20:01
Hi,
My mother is housewife and has no any other income source except interest on FD of 20 lakhs in a bank at 9% p.a. pls let me know is my mother liable to pay income tax on this interest income?
Thanks.
YAGNESH HASMUKH DAVE
07 April 2014 at 19:42
i have taken servicetax no in propriator concern as huf whether i am liable to pay service tax monthly or quartely and return also monthly or quartly pl explain
s.k.majumdar
07 April 2014 at 18:32
Dear sir
i)My parents expired in 1999 leaving one no. two storied House(1200sq ft) and agricultural land(20 bigha) in West Bengal without making any will.
ii)The above properties were purchased by my father in and around 1947 from another person.
iii)We are two brothers and three sisters being the legal heirs.
iv)Recently in the FY year 2013-2014 the said properties were sold for a total sum of Rs 30 Lakhs and the sale proceeds were distributed equally between the legal heirs i.e two brothers and three sisters.All of us submitted Pan card no at the time of sale.
v)Whether the above transaction will attract capital gain tax in the hand of the recipients? If so,how to calculate the tax in view of the acquisition of the properties made by my father in 1947 and the same sold in 2013-2014.
Kindly help and guide us.
s k majumdar
Audit Manager
D K Singh
07 April 2014 at 18:13
How we come to know that service tax paid to the builder or promoter has deposited the same against the same property.
Bibek Agrawal
07 April 2014 at 10:14
I had booked a flat on 19/02/13 by making a payment of Rs one lakh. after that made 30% payment on 25/04/13. balance 70% on 31/05/13 which in funded by bank. registration of my flat was made on 12/06/13. After one week of registration we started living in this flat. now the builder ask for payment of service tax. Are we liable for payment of service tax?
dinesh kumar
06 April 2014 at 15:01
HOW MUCH AMOUNT I CAN GIFT TO MY 65 YRS OLD PARENTS?IF MY PARENTS GIFT SUCH AMOUNT TO MY WIFE AGAIN.WHAT WILL BE THE TAX LIABILITY TO MY PARENTS AS WELL AS MY WIFE & MYSELF.CAN IT BE POSSIBLE TO DO SO FOR LOWERING THE TAX BRACKET. I AM IN 30% RANGE.MY WIFE NEEDS 50 LAC AMOUNT TO TAKE A PROPERTY.IF I CAN GIVE HIM DIRECTLY ,RENTAL INCOME OF THIS PROPERTY WILL CLUBBED.I HAVE MONEY. HOW IT CAN BE MANAGE IN MY WIFE NAME TO REDUCE THE TAX.
Rupesh
06 April 2014 at 09:46
Hi,
My wife and i have a joint saving account in a bank. My wife is primary account holder and i am the secondary. Pls let me know who is eligible to pay Income TAX if any in this condition, primary or secondary holder?
mohan sehgal
04 April 2014 at 20:13
what type of lawyer services are covered under Reverse Charge...
Which type of constitution of Lawyers Body are exmpet from Reverse Charge
suren
04 April 2014 at 16:45
Dear Experts,
Our housing Co-op society proposes to invite Maintenance Fund Deposit ( Interest free ) from its member.
The Society further proposes to keep the same in a Co-Operative Bank in the Joint Name i.e. Society will be at First Name, Jointly with concerned member at second place.
The interest accrued on such deposit will be credited to the society's account directly by bank and society in turn will adjust the same amount in the maintenance fund payable by the member from time to time.
further, at the time of maturity, the fund will go back to member's account as per the terms and conditions laid down while putting the FDs with Bank.
Query :-
What will be the Income Tax Liability of such interest income generated.
Interest is credited directly to Hsg Society's account (exempted being co-op to co-op).
Or, will it be liable to member ???
Thanks and Regards
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Tax on fd interest
Hi,
My mother is housewife and has no any other income source except interest on FD of 20 lakhs in a bank at 9% p.a. pls let me know is my mother liable to pay income tax on this interest income?
Thanks.