P V SASEENDRAN
23 July 2013 at 16:41
Dear Sirs,
One of my friends is working in a limited company on retainership basis and his remuneration is paid after deducting TDS @ 10% U/S 194J.
He has got no other income this year excepting Bank/PPF Interest and Long Term Capital Loss. All these are exempt income under relevant clauses.
Until last year he has been filing his ITR in form No.2 and his remuneration is shown as "Other Income". However, as his TDS is deducted u/s 194J, his income is to be treated as professional income and professional income return cannot be filed in ITR-2. For this, as I could understand, his return is to be filed in ITR-4 which appears to be a wastage of stationery (ITR-4 comes is about 40 pages) and time consuming.
Can anybody advise whether there is any provision which allows him to file his return in ITR-2 ?
Thanks and regards,
P V SASEENDRAN
Dinakar C Korishettar
23 July 2013 at 15:23
Is it a 44AB case?
Please guide me,
1) Whether a Tax Consultant can file ITR4 for this A.Y 2013-14, if…
Assessee is an individual or HUF, having…
a) Total business turnover less than 1 Crore,
b) Maintains his books of accounts regularly.
c) Profits & gains from the business are not more than 8% of his total turnover.
d) Net profit from the business is bellow basic maximum income tax exemption limit, i.e., Rs 2 Lakh and
e) Agricultural Income is more than Rs 5 lakhs.
2) Whether an assessee or a Tax Consultant can file ITR5 for this A.Y 2013-14, if…
Assessee is a partnership firm, having…
a) Total business turnover less than 1 Crore,
b) Maintains his books of accounts regularly.
c) Profits & gains from the business are not more than 8% of his total turnover.
d) Net profit from the business is bellow basic maximum income tax exemption limit, i.e., Rs 0 and
e) Agricultural Income is more than Rs 5 lakhs.
Thanks with regards,
Dinakar C Korishettar.
Shaishav
23 July 2013 at 00:59
My father had a self earned property. He died without making any will. The property got transfered on my mothers name and all legal heirs(my brothers
And sisters)of my father relinquished their rights.
Now my mother wants to gift me that property. Can my brothers sisters challenge the gift deed? And can in future my mother revoke the gift deed?
Anwar
22 July 2013 at 16:23
Dear All,
I am registered dealer with dvat department currently i have generate & download c-from from dvat website
my query is that whether this form should be verify from concerned department or not
vinoj pjoseph
22 July 2013 at 12:35
Sir,
I am a Central govt employee and I received approximately Rs30,000 as Transport Allowance for the Financial year 2012-2013. But the departement considered only Rs9600 for the allowances exempted under Section 10 for Transport Allowance. Is there any upper limit for the exemption of transport allowance u/s 10. If there how much.
With Regards
Vinoj
Bhaskar Dey
22 July 2013 at 07:18
Respected Experts,
If someone sells a house through Power of Attorney, and if the Attorney rents it, who will be accountable for paying Income on House Property? The Executor or the Attorney?
Thanks in advance,
Regards,
B.Dey
Sudheer J. Sarvate
20 July 2013 at 22:04
Actually I am a salaried employee.
But instead of showing salary and issuing me Form 16, Company has shown me as a consultant and issued me Form 16A for the F.Y. 2012-13.
My total Gross Professional income for F.Y. 2012-13 is Rs. 3,50,000/- as per Form 16A.
Now while filing Income Tax Return, how should I compute my income and how should I show the same in ITR.
If I show as income from Profession, then whether I have to prepare and submit the Balancesheet.
and if I disclose full amount as receipt without claiming any expenses and shown only deduction u/s 80C, then also I have to prepare the balancesheet.
JAGANNATH RAO PARINAM
20 July 2013 at 21:08
Dear Sir,
I had sold one plot of land on 5/07/2012 and sold one house in may 2013. I am thinking to invest the sale proceeds from land in Capital gain a/c before 31/07/13.My queries are as under:
1. Can I buy a single residential house against both the capital gains as mentioned above.
2. or I have to invest separately in two different residential houses to claim the capital gains .
3. Can I purchase two or more residetial houses against sale of one property. i.e against one capital gain .
4.If yes, Can I purchase two houses in two different cities
I had ealier sent mail for this query but no reply from your experts
Thanks and regards,
PJRAO
Students
19 July 2013 at 16:46
If a person books a Flat in an under construction building in the year 2007 by paying Registration and Stamp Duty and gets his Flat Registered in 2007 and gets the Possession (by paying final Installment) of the Flat in 2012 and sells in the year 2012 ....Whether in the present scenario Profit on sale of Flat is Long Term Capital gains or Short Term Capital Gains.
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Exemption under it act
will you pl clarify whether i can claim exemption for notice pay paid to previous employer which was not bought back by new employer. If so, under which section? many tks for yr prompt response