manoj kumar saraswat
21 April 2018 at 23:21
a property wrongly shown in balance sheet of a assessee (capital also increased accordingly)since 4-5 years which is not really exists.his/her books of accounts are audited first time for A.Y. 2017-18. what are provisions of income tax act in this regard.
PURUSOTTAM PANDA
19 April 2018 at 18:57
Respected Sir / Madam,
An employee is getting INR 30,000.00 p.m. But, the employer is not deducting professional tax. Can the employee apply for enrollment u/s 6(2) of the relevant Act of Odisha Professional Tax? Will he / she pay the tax annually @ INR 2,500.00? If he / she does so, what will be the impact on the employer.
Thanks in advance.
Munish Kumar Garg
13 April 2018 at 19:06
Dear Sir,
I could not able to find the definition of Term Loan, so can anyone help me in this regard. As where I can find its inception and other related information as it is found in Union List, as per Constitution of India, 1950, as per Item No.38. But i failed to obtain its official Definition, so please help me in this regard.
Regards
Munish Kumar Garg
Rakesh
11 April 2018 at 18:11
Hi Team,
I need your help to understand that my bank has charged interest despite the cheque was not issued to the builder. As per bank, they have credited the loan amount to my home loan account, but they have not issued the cheque to the builder. Physical transaction did not happen from my home laon account to builder's account, Can bank take interest charge?
Best Regards,
Rakesh
Archana
07 April 2018 at 21:51
Hi,
I am a salaried person, working in a private organization. I want to borrow money from one of my friend who is a government employee. I am afraid if the tax will be deducted on this amount once I receive the money in my account. Kindly suggest how the tax will be charged.
Kumar
04 April 2018 at 12:35
Sir Trade unions are exempted from payment of income tax under section 10(24). Can Banks give exemption from TDS recovery on interest earned by Trade unions based on this section
Anonymous
01 April 2018 at 07:41
I am planning for purchase of a flat in the name of my wife,who is homemaker. The loan will be in the joint name. Whether I will be eligible for claiming the income tax benefits on interest and principal amount on home loan, as the EMI will get deducted from my account and my wife is not having source of income or taxable income.
Srinivas
30 March 2018 at 19:25
I am a salaried employee and my company deducting tax through salary. In 2016 October my father gifted amount Rs 15 Lack which I invested in Reliance bond funds. In March 2108 I have withdrawn that amount and given back to my father. My query is who needs to pay the tax on short term gains. Is it me or my father or anyone can pay? If I pay then I am in 20% slab so the amount will be huge. If my father has to pay his income is within taxable income limit. Please suggest.
Madhu Mittal
28 March 2018 at 15:39
An case named DEPUTY COMMISSIONER OF INCOME TAX vs. GIRNAR INVESTMENT LTD. ITAT, DELHI ‘F’ BENCH Sikander Khan, A.M. & Y.K. Kapur, J.M. ITA No. 4330/Del/1998 17th July, 2003 (2005) 92 TTJ (Del) 711 :(2004) 88 ITD 419 (Del) that belongs to Section 45, 48, 55(2)(iiia), Asst. Year 1995-96, in which it was stated in last para:
“This brings us to the last submission of the assessee that the amendment carried
out in s. 55 by incorporation of sub-s. (iiia) clarifies the grey area as by virtue of the amendments the cost of bonus shares has been mandated to be taken as nil. The submission of the assessee was that on account amendment which has been carried out to clear doubt, the benefit of same should be given to the assessee. When we examined this contention of the assessee, we found that the amendment is operative from 1st April, 1996. It has no retrospective effect.”
From this can it be easily deduced that if the A.y. had been 1997-98 or later years, the benefit must have been given to assesse and there will not be any tax on short term
capital gain on shares in the said Girnar Case?
Girnar case is attached http://www.lawyersclubindia.com/forum/Intepretation-of-case-of-deputy-commissioner-of-income-tax-v-174796.asp
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Can government employee hold other post?
My parents run a school of which my mother is a principal. She is also working in a government school and earns 1.8lacs per year.
My father is working in a government aided college and earns around 4lacs per annum.
The problem is that we have to show the school imcome in ITR but as my mother is a government employee I think she cannot show it in her income.
But can my father, who is working in government aided college, include the income from school in his total income?
Actually I need to show their income taxable as I need some study loan.
There is one more option, please tell if its possible. We have some agricultural land also. I know agricultural income is not taxablw but is there any way by which we can include it in taxable income?
Please tell if any of the two ways is possible. Thank you.