Anonymous
16 March 2011 at 16:30
I paid premium of Post office RD for my sister. She is 21 years old & unmarried.
Can i add this premium amount paid by me to tax relief amount under 80 C
Or it is not possible.
Please make me clear on the above view.
I will be thankful.
Regards,
RGupta
Pratap
16 March 2011 at 10:28
What is the procedure for when an Company deducting TDS on interest & Commission & is not issuing\providing TDS cert on time.
Anonymous
16 March 2011 at 10:19
My father has received gross arrears of salary Rs 97,081(include provident fund recovery of Rs 16525) during the month of may,2010 with retrospective effect from nov,2007 to april,2010.The break up of arrears in different previous years is as follows:
For PY 2007-08,gross arrears are Rs13,426,provident fund recovery Rs2,578 and net arrears Rs10,848(Rs13,426-Rs2,578).
For PY 2008-09,gross arrears are Rs35,719,provident fund recovery Rs6,462 and net arrears Rs29,257(Rs35,719-Rs6,462).
For PY 2009-10,gross arrears are Rs43,941,provident fund recovery Rs6,887 and net arrears Rs37,054(Rs43,941-Rs6,887).
I have got some doubts regarding calculation of relief u/s 89(1).
1.While calculating the total income including arrears of salary during the previous year 2010-2011, shall we take gross arrears of salary received or net arrears(gross arrears-PF part).
2.while filling up form 10E how much amount should we write against the salary received in arrears or advance.Is it gross arrears of Rs 97,081 or net arrears of Rs80,556.
3) Shall we claim provident fund recovery in gross arrears under 80 C deduction during the previous year 2010-11.
4)while calculating total income including arrears of salary for Previous years 2007-08,2008-09,2009-10,how much arrears of salary should we take.Is it gross arrears of Rs13426,Rs35719,Rs43941 respectively or net arrears.
shashin
15 March 2011 at 22:18
i had entered in the agreement of demolition of flat and receive the "hardship compensation" of Rs.10 lack. now then the builder gives Rs 10 thousands every month for rental up to 22 months.
-now i have a query that, the compensation received by me is taxable if yes,
-in which head whether capital gain or other sources ?
-the rent receive is use for the rent but Rs.8000/- p.m now rs. 2000/- is saved is it taxable?? or whole the 10,000/- will be taxable ???
pls give me your expert advice to pay advance tax ... thank you in advance >>>..
Anonymous
15 March 2011 at 20:31
My father has received gross arrears of salary Rs 97,081(include provident fund recovery of Rs 16525) during the month of may,2010 with retrospective effect from nov,2007 to april,2010.The break up of arrears in different previous years is as follows:
PY GA PF Net arrears(Rs)
2007-08 13,426 2578 10,848
2008-09 35,719 6462 29,257
2009-10 43,941 6887 37,054
2010-11 3,995 598 3,397
Total 97,081 16,525 80,556
(GA refers to Gross Arrears,PF refers to provident fund part in gross salaries)
I have got some doubts regarding calculation of relief u/s 89(1).
1.While calculating the total income including arrears of salary during the previous year 2010-2011, shall we take gross arrears of salary received or net arrears(gross arrears-PF part).
2.while filling up form 10E how much amount should we write against the salary received in arrears or advance.Is it gross arrears of Rs 97,081.
3) Shall we claim provident fund recovery in gross arrears under 80 C deduction during
4)while calculating total income including arrears of salary for Previous years 2007-08,2008-09,2009-10,how much arrears of salary should we take.Is it gross arrears of Rs13426,Rs35719,Rs43941 respectively.
PLEASE CLARIFY ME URGENTLY.THANK U VERY MUCH
Anonymous
15 March 2011 at 19:02
Charitable Trust A has rented some properties to Charitable Trust B. Charitable Trust B has been transferring its entire net income to Charitable Trust A over many years, and continues to do so. A question has arisen regarding adequacy of rent charged by Charitable Trust A to Charitable Trust B, the latter being a tenant of Charitable Trust A. Is there any case law on this point? Can charitable status of Charitable Trust A be challenged by the I. T. authorities, on the ground of inadequacy of rent charged to Charitable Trust B?
Anonymous
15 March 2011 at 17:33
My friend has got allotment of a flat from a builder in 2004 at Gurgaon. By 2006 he has paid the entire consideration to the builder & Apartment buyer Agreement with the builder was signed. He was given a letter of possession by the builder . He did not take possession of the Apartment & wan’t to sell it now at a premium. He has not registered his purchase from the builder. He wants to claim his profit as long term capital gain as per I.Tax Act & want rebate/relief by buying dwelling house for him & investing in specified bonds. My question is
1) Can he claim long term Capital gain for the profit he made by selling his Apartment when his purchase of the said apartment was not registered? He has all other documents to prove that it was allotted to him, he paid the consideration etc. but the title was not registered in his name.
2) Can he claim long term capital gain by terming his position as right to title of the Apartment or deemed ownership of he property? Is there any such coinages in I.Tax Act?
3) Some suggested that he can claim that he had right to title which he sold & it will be treated as Long Term Capital Gain for which he can not buy dwelling house but can buy specified Bonds to claim rebate/relief from long term capital gain tax. Is it correct? If correct then what section & sub-section of the Act applies here?
4) Can his case be defended if I.Tax department rejects his claim of long term capital gain?How?
5) What should he do now to show it as long term capital gain?
An urgent answer is requested. Thanks in advance
Anonymous
15 March 2011 at 15:36
a residential property in fathers name , on death of father was transferred to elsest sons name for convenience father survived by wife 2 sons and 1 daughter all married mother since expired now if property is sold can all the sons and daughter claim long term capital gains by investing in different properties
Hariom Sharma
15 March 2011 at 10:04
Dear Sir,
My mother is widow and getting pension from Railway Department. Can i claim the insurance policies taken on her name for tax benefit.
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