Anonymous
25 December 2011 at 23:39
Income derived from Exports of Organic soybean & its by productsfor Individual of India is taxable?
Anonymous
25 December 2011 at 13:20
HOW can i get the income tax returns of 2002 t0 2004 of my FIL?i donot have any his document like pan card no. etc.actually i need it to break their false d.v. case.thanks in advance
Anonymous
24 December 2011 at 19:41
guys I wanna know that
If the property used for the purpose of business ,then in which head it is chargeable?
n
what does it means "annual value of house property will be charged under head income from house property when it is held by assessee as stock in trade of a business"/.
pls reply as soon as possible ......
Anonymous
24 December 2011 at 18:56
Hi
I have been NRI living in UK, since last 5 years and I have been investing through savings a/c in PPF, NSC, Fixed deposits, Mutual funds which is incorrect. Honestly I have not been guided correctly by my advisors and partly my mistake as i did not search the web for more information. Is there any way I can correct it? I have been filling my returns since last 5 yrs and my interest on investment has been 1.2 lakh, hence no tax. I have sold few mutual funds this year and created fixed deposits but through saving a/c.
Below are my financial investments
I have a property worth 50 lakhs. (Loan all paid off through NRE a/c), Fixed Deposits 27 lakhs in saving a/c, NSC 1.4 lakhs, Corporate deposits 6 lakhs, Bank balance in UK 8 thousand pounds, PPF 5 lakhs
Below are my questions
I have invested in PPF 70k each year since the last 5 years(3.5 lakhs), what needs to be done to correct it, in sense it is wrong to invest in PPF, going forward I shall not be investing but how is there any way I can correct it ? I would rather pay tax and do it correctly.
I have made fixed deposits worth 27 lakhs all created this year but from NRE to saving a/c and few from sale of mutual funds. How do I correct it as fixed desposits will mature in 3 yrs but in my saving a/c and I want to close my saving and open NRO?
Do I also need to notfy the corporates with whom I hold fixed desposits ? I am completely confused.
Your help is very much appreciated
Thanks
Anonymous
24 December 2011 at 17:53
dear sir, i want expert opinion on taxatiion of salary income of indian citizen taking job in forigen merchant ship crew ,salary is credit to his HDFC NRI A/c open at mumbai Branch.he is having NRI status from past three financial years.he files return in india as nil income as his salary income earned outside india being NRI. No return /TDS/Tax in any other country filled or paid by him in any years.
what about whould be the implication of DTAA or any such law /regulation in his income and what he has to do now and in next years .
viswanath
24 December 2011 at 17:50
I have gone through the replies given earlier by panelists on pre-emi interest. However, I have a specific query. I have taken a housing loan during June 2010 and I have paid pre-emi interest from June 2010 to Nov.2011 and since Dec.2011 I am paying regular EMI as the construction has been completed and handed over. My understanding on reading the Act is that the pre-emi interest for the period from June 2010 to March 2011 is to be aggregated and claimed as deduction over a period 5 years, commencing from the year 2011-12(AY 2012-13) The pre-emi interest for the period from April 2011 to Nov 2011 and the regular EMI interest for the period from Dec.2011 to March 2012 to be aggregated and to be deducted from the total income for the year 2011-12. The explanation given in section 24 clearly states that Where the property has been acquired or constructed with borrowed capital, the interest, if any, payable on such capital borrowed for the period prior to the PREVIOUS YEAR in which the property has been acquired .......... shall be
deducted under this clause in equal instalments for the said previous year and for each of the four immediately succeeding previous years:
- In my case - the year prior to the 'Previous Year' is 2010-11 and hence any pre-emi interest paid during the year 2010-11(i.e., upto March 2011) will have to be claimed as deduction over a period of 5 years.
The reason for posting this query is - the IT website contains a publication"tax payers information book" where in (in page no.12) it has been mentioned that interest paid/payable before the final completion of constuction will be aggregated and allowed over a period of 5 years.
Members may peruse the above and may offer their views.
Anonymous
24 December 2011 at 15:46
Hello Experts,
Q1.Can Tailoting business income & Mobile repairing income show u/s 44AF/AD gross receipt basis either 5% or 8%?
Thanx..
Anonymous
24 December 2011 at 14:29
my company filed income tax retun for the period 2005-06 on 2-11-2006,with a delay of 2 days.it was filed through registered post.on 31-10-2006 there was a sendoff function in the it office and the couter accepting retur was closed by 5.pm instead of the usual 5.30 pm.commissioner denied carry forward of lose as return was not filed properly u/s 139(3).we filed appeal .before it commissioner ,appeals.he dismissed the appeal.we filed second appeal before the tribunal which allowed unabsorbed depreciation but rejected claim of carry foward of lose.high court also dismissed our claim of carry forward.carry forward comes to 2.40 crores.what is the remedy avilable.will supreme court entertain our claim of carry forward?
Asha
24 December 2011 at 13:30
We have not filed DIN-3 to ROC in the year 2007 when the company was formed, now the site is not allowing us(giving a message like "company default in filing DIN-3/Form.32") to see 'View Signatory Details' under register digital signature corner of MCA portal pls suggest us the remedy. Can we file the DIN -3 now ro pls suggest us what went wrong and remedy. thanks in advance to all the members here.
© 2026 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Service tax
we are doing job contract work of manufacturing animal feeds for another company.job contract was entered in 2005.cattle feed is a non-excisable product.are we liable to pay service tax under notification 7 /2008.are we exempted?