MANSHA -CA STUDENT
09 August 2011 at 08:23
Respected Experts
I an facing practical difficulties for claiming deduction u/s 80DD of income tax act 1961.
I want to to know whether proof of expenditure for claiming FLAT AMOUNT OF deduction u/s 80DD is a mandatory requirement or not.
in other words,certificate from medical authority is sufficient for claiming deduction amount.
Hope for early reply
Thanks
Anonymous
08 August 2011 at 16:17
Rent on commercial property of a construction co, whether the income treated to be the income from business or the income from Rent.
Rajesh B Shah
08 August 2011 at 14:22
Dear Sir,
What is the latest position regarding service-tax leviable on builders and developers ? What is the progress of The Maharastra Chamber of Housing Industries V/s Bombay High Court and latest decision of Chennai High Court ?
Thanking You,
Rajesh B. Shah
(Advocate & Tax Consultant)
Vadodara, Gujarat.
MANSHA -CA STUDENT
06 August 2011 at 17:16
Respected Experts
I have one doubt regarding the taxability of agricultural income in partial integration
Payment of intt on loan u/s 36(1)(iii),which is taken for purchase of agricultural land -
whether it is allowed from agricultural lncome or not i.e its attracts disallowances u/s 14 of Income tax act ?
Kindly reply query with ref of income tax act & case laws .
Thanks
Maheshkumar Sharma
05 August 2011 at 10:15
Hello all,
In maharashtra one have to pay royalty in excavation and use of natural resources like sand, mumrum,etc.
Can anyone tell me with reference of Legal provisions, whether Royalty is a Tax or what?
Anonymous
04 August 2011 at 02:32
Mr.Raju is having house property and availed loan from the bank for construction of said property. In the year 2008, 1st. floor & 2nd floor of the said property was let out to a educational institution for hostal.He has been filing IT returns by showing house property income and claiming deduction U/s-24 (Interest on HBL)and also claiming deduction U/S-80C (repayment towards principal).
Now ground floor of the said building was let out to his wife Rima , who sub-leted the said ground floor to a Bank.
What will be income tax treatment of Mr. Raju and his wife Rima. Please advise me.
Anonymous
03 August 2011 at 19:30
A Indian is employed in Nigeria from 1.4.2006 to 31.10.2007 and during this period his Salary income was taxed in Nigeria. He has no earnings except interest income in India on his Deposits held with Banks during the above period.
He received a bonus payment from his previous employer in India, relating to the earlier years when he was employed in India in May 2006 with TDS deducted at Source.
Should he file his return in India including the Salary received in Nigeria which is already taxed there? Is there a DTTA with Nigeria in those years?
What is his Status during the period under IT.
What would be the components or Heads of Income of his tax returns in India and with what status.
Could the incometax experts clarify the position please.
Anonymous
02 August 2011 at 23:44
Which Return will be used for a salarised employee having salary income & Interest income of morethen Rs.20,000/-
mudit nigam
02 August 2011 at 20:35
Hello
respected Sir
my problem is during the year the month of July proprietorship firm take over by the new company he gives me a some amount and share in new co. for this take over. how to compute income tax.
whats up i think so all amount received by the company and my firm capital difference is taxable in normal rate of taxation.
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Audit u/s 61 of mvat
ONE OF MY CLIENT IS RUNNING TWO BUSINESS 1) MEDICINE 2)BUILDING MATERIALS BOTH TURNOVER IS BELOW 60 LAKH HE HAVE TAKE ADVANTAGE OF U/S 44AD AND SHOWING PROFIT IS MORE THAN 8% IN THAT CASE HE IS NOT LIABLE TO GET THE AUDIT U/S 44AB BECAUSE OF TURNOVER IS NOT CONSIDER TO TAX AUDIT U/S 44 AB MY QUESTION IS WHAT IS THE POSITION OF MVAT U/S 61 WHETHER IS LIABLE THE AUDIT U/S 61 OF MVAT OR NOT PLEASE EXPLAIN ME WITH AVAILABLE OF CASE LAWS