LCI Learning
Master the Art of Contract Drafting & Corporate Legal Work with Adv Navodit Mehra. Register Now!

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

R.Rajendran   30 July 2008 at 09:44

Tax on Fixed Deposit interest for house-wife.

I am a salaried employee and I pay tax every year after availing all the tax benefits. I want to invest in my wife's name Rs.One lakh in FD Scheme of a private Bank for 1 year.If the interest at the time of maturity is Rs 10500, will any tax be applicable as per Income Tax laws?. I feel that tax should not be applicabe since my wife is not working(She is house-wife).
Request for reply from Tax experts.

R.Rajendran

kruthika   28 July 2008 at 22:44

taxation for pensioners

dear sir,
i would like to know, if it is true that a pensioner can file his returns anytime of the year....

K.Ravichandren   26 July 2008 at 00:14

Is there is Central Excise Tribunal in Chennai?

Is there is Central Excise Tribunal in Chennai? where is it? How to file an appeal with them against the order by Salem Office which assessed wrongly.

SATYA   22 July 2008 at 12:31

taxability over payment received from future plus plan of lic

My client received sum after surrendering policy of future plus of lic of india. The sum was received after 2 years. What I want to know is whether ths same is taxable or exempted u/s 10(10D. Advice me urgent

SANJAY DIXIT   20 July 2008 at 22:48

Due date of Profession Tax

Dear Experts,
Please let me know the due date of depositing Profession Tax.

SANJAY DIXIT   18 July 2008 at 10:02

Deduction U/s 24 I.T. Act

My friend has taken a loan jointly with his wife to buy a house property. Basically the loan is sanctioned on my friend's salary and repaying capacity only. EMI is Rs. 17,000/- Whereas my friend's wife salary is Rs.14,800/- only.
My friend has registered the house property in his wife's name only.
In this circumstance whether my friend can claim Interest on salary u/s 24 and deduction u/s 80C for the principal portion paid from his salary income.
Please suggest.

subodh   15 July 2008 at 20:07

Taxation Of Builders under Maharshtra VAT & Service Tax

The Builders who enters into property development agreement with land owners, constructs & enters into agremeent for sale of flat/units(while doing construction) are held liable as "Works Contract" under Maharashtra VAT Act, Is it correct ?

If yes, will they be liable for Service Tax ?

Is the ratio of recent Gohati High Court judjement

MAGUS CONSTRUCTION PVT LTD
Vs
UNION OF INDIA

Is applicable to all ?

AJIT KAWATKAR   15 July 2008 at 12:18

IT exepmtions/int. on fixed deposits etc.

my sister is retired SR CiTIZEN having pension;returns from ppty-fixed depo.-dividends from shares.at present not taxable.she wants to invest in bank's fix-depo. for 5yrs. The plan is like this;-to invest rs5L for 5yrs. to invest the INTEREST EARNED [mothly/Q]in recurring depo. Q.whether int. earned/deposited in the A/C &then directed to RD.would be ADDED to her income &calculated as total income for that yr.&taxed ?if is so kindly advise tax plannig.

garibnathsah   14 July 2008 at 01:58

Provident Fund

sir,
employers contribution to provident is exempted upto 12% of employee's salary under which sub-section 10. kindly help me in this regard.

with regards
garib nath sah

sree   12 July 2008 at 10:16

Regarding section 194A of ITA

whether TDS should be deductible for inrest paid on compensation awarded by workmen compensation Act