Usha Siddharthan
16 April 2012 at 19:33
I am a widow and am 56 years old getting family pension. I get my pension as a sole beneficiary after the sudden death of my husband during his service. He was serving as Class I officer in Central Govt employment in civilian capacity. He passed away in May 2006. My pension per month comes to around Rs. 29000/-. I have no other source of income. My queries are:-
1. As a pensioner am I liable for paying income tax in the receipt of family pension?
2. Am I entitled to any deductions like medical expenses etc.?
3. Am I entitled to any standard deductions like other tax payers?
4. As I am staying alone in a rented premises, is the the rent paid is entitled to exemption from gross income?
Gaurav Kumar Gupta
16 April 2012 at 15:52
dear sir
my client is shoe exporter and he is getting money against export, and he pay more income tax on export income,
pls tell me how can save income tax on foreign exchange money ?
what is Fema , can i register in fema act?
what's the process of registration in Fema?
what's more registration in which Department for exemption or subsidy on this income
pls tell me more details on this query
Thanks & regards
Gaurav kr Gupta, Advocate
mob. 09897645774
Agra
jagdeep
16 April 2012 at 14:13
our custome have head office in up and sales billing area is up.they purchase the material from singhapur.
but now they are opening a ware house in delhi and now they want to sale material both places so shall they can mention both address on the invoice copy and could they continue the selling from both places.
if we made the registration in delhi than can we write both address on the invoices.
Please provide the section for the reference.
Rohit Telang
16 April 2012 at 12:25
I along with my wife,son and widowed mother stay in a flat in a cooperative housing society in Mumbai since 1973.The flat was purchase by my late father who died without a will.My mothers name came on share certificate as she was the nominee.I have a married sister who is claiming a share in the property.
My name and my sisters name are now shown as nominees with 50% share.
We want to sell the flat.My sister wants to purchase the flat and give my share as 60%.My sisters husband is going to finance
her.They will use my mothers share also to
pay me.It will be change of name on the share certificate amongst the family.
How can we save tax on these transactions?
Can we do it by way of Gift from my mother to me?Can my brother in law gift money to my sister to pay me?Can my mother gift her share to me?How to do it?I believe there is nil or minimum tax on gift.Can we save on stamp duty and reg.charges this way because there will not be any selling but only transfer of name.Please advise urgently.
Anil Pawar
16 April 2012 at 10:57
Dear Sirs
I was working for the company in Rajkot from Jan 2006 to Jully 2011.During the first year company paid my did not deduct TDS from My Salary,but they paid it to IT dept on my name, and when my return for Assessment year 8-9(financial year 7-8) was paid to me by cheque by IT Dept,the amount was debited to my account by company.I don’t object to this.
But from financial year 8-9 i.e.assessment year 9-10,company started deducting TDS from my salary.I filed my returns from the same tax consultant of the company who was looking after the tax matters of the directors of the company as well.
For Assement year 9-10 I received my IT refund,But in the same year I received notice from IT Dept, to pay Rs.35210/ as fine, (in the attached statement they did not consider my investments Under Chapter VI-A and TDS).
I gave this notice to the same tax consultant,who filed my return.He said my TDS has gone in Wrong PAN A/c,hence I received this notice. And he will take care of it.
For the financial year 10-11,again I filed my returns with the same tax consultant, and I was expecting my I.T.refund of A.Y 9-10 & 10-11,but again I received notice from I.T.dept demanding Rs.38870/ as arreas as they didn’t consider my due investments Under Chapter VI-A and TDS.
My consultant told me there are 1000 of notices of this kind by Rajkot IT dept as they had hired Data Entry Operators who committed this mistakes.
So long I was with the company I had /n have fullfaith that every will be set right.
Now I left this company in jully 2011, and while checking my TDS Form 26AS for the above year I got following details
For Assessment year 8-9(financial year 7-8),for 26AS , in Part A- TDS Deductors is showing only for 6 months with TDS Booking column October 2007 for 3 Months and January 2008 for rest 3 months and not for full 12 months.
For Assessment year 9-10(financial year 8-9), for 26AS , in Part A- TDS Deductors- is showing only for 8 months with TDS Booking column giving date 15/06/2011 for 8 Months ,and balance paid (in Part C of 26AS) on 12/1/2012
For Assessment year 10-11 (financial year 9-10), for 26AS , in Part A- TDS Deductors- is showing for all 12 months with TDS Booking column giving date 15/06/2011 .
Aslo 26AS in its part B-details of paid refunds show A.Y 7-8 is paid by Paper on 7/7/2009 nad for A.y 2008-9 as paid by paper on 21/12/2009
My refund for the Assessment year 2009-10, for which I was served notice by IT Dept in that year , was shown as by IT dept as “Adjusted against outstanding demand. (CIN-BSR code 0004329 Challan deposit date - 12012012 Challan Sequence no - 33446) on Jan 13, 2012 by ECS.
And my refund status for 10-11,11-12, shows Your assessing officer has not sent this refund to Refund Banker.
I am trying to contact my consultant who dealt with this issue is now not responding
Pls advice me what course of action available to me, and can I claim this amount & from whome
akhlesh sharma
14 April 2012 at 12:53
Sir,
1. What is first point item in sale tax and
2. whatis option to pay tax in lump sum.
3. what is definition of sec.5 in sale tax.
4. What is definition of sec.3(2)in sale tax.
P.Parthasarathi
14 April 2012 at 08:17
My client sold a residential house property and invested the proceeds in purchasing two flats within the time allowed u/s 54 of ITAct. The language of sec. 54 says NEW ASSET. Can the two flats be considered as NEW ASSET or the deduction will be restricted to only one flat because asset is a singular noun? Any court decisions in this regard may kindly be cited.
indu
13 April 2012 at 19:33
I WANNA KNOW ONE THING THAT WHAT'S THE JOB OPPORTUNITY IN LAW. AND IF I GET ANY JOB AFTER LAW SO MY MBA WHICH I AM PURSUING BY DISTANCE WILL BE USEFUL IN CORPORATE WITH LAW OR NOT and which college is best.
Ajay Kumar
13 April 2012 at 18:20
Respected Experts,
our local panchayat imposed Rs. 10 lakhs tax on our Foundation which is non profitable motive and serves to the general public (free education and conducting health checkups etc). We are maintaining a school which is only for poor and fully free of cost. It is very impossible to us to meet such amount. Is there any exemption / any relief under panchayat raj Act or any law?? Let me know how to proceed. Some political people warned us if we failed to pay the amount, our foundation will be abolished soon.
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Sec. 24(b) of i.tax act.
can huf claim deduction u/s. 24(b) of the i.t act. if his member has another res. house.?