rajnish
14 October 2012 at 20:37
Dear Sirs.
My mother who is 52 year old is recieving monthly pension of Rs 40000 after my father's death who was a reader in degree college.
I want to know about the tax saving possibilities allowed as per Income tax rules for FY12-13 and total tax applicable after all deductions.
subhash bajpai
10 July 2012 at 10:44
Sir,I am a member of Housing Society and invested Rs. 1 lac in 1999 and Society was made for providing houses to its members as per the deed of society. Society had purchased a piece of land but due to some reasons could not constructed houses on that land. Now due of some govt. norms Society is selling its land and paying 25 lacs as compensation against land advance made by me. My question is whether receipt will be considered as Capital Gain or income from other sources?
pls help.
Ayappan
01 July 2012 at 19:06
The property was acquired by the ancestors way back in 1913. After two generation the property is offered for sale in the year 2012. The property is within 8 kms of the muncipal limits. As the index base year is from 1.04.1981 what value need to taken as on 1.04.1981 for the prorperty if acqusition value is say Rs.1000 per acre.
The property will be divided into two for fathers of first generation and among themone of them have 9 legal heirs who is of second generation and current generation will divide the property sale proceeds in various ratios as due to each individuals as per their rights. What will be the tax impact on each individual.
veronica
24 June 2012 at 13:35
Hi. I had a love marriage after knowing my husband for 4 years. We have just completed six months of our marriage. My husband and I have issues because of his mother and sister. They are really problematic people and have been troubling me and he is completely under their influence.so I suggested him to think about us for sometime and they have completely brainwashed him. Can he file a divorce case considering it is just six months of our marriage. If yes, then on what grounds. I want ot save our marriage so I suggested him that I am ready to take responsibility of your mother and we stay very close to his sister so I asked him to move from there. He refused to do so. His mother and sister want to control our life completely. Please gpsuggest..
Anonymous
04 February 2012 at 08:57
Dear Experts,
A friend of mine went to HDFC Bank to make deposits. The RM falsely sold regular premium ULIPs to him saying that he has to deposit money only once.
Only after receiving reminder for payments, he came to know that he has been cheated.
What recourse he has on bank and the RM ?
VISHNU
01 February 2012 at 18:05
sir
1. My friend Tara singh father has purchased a immovable property in 1973 for Rs 2000/-. Afterwards the same property was sold to Rs 6 lac by Sh Tara Singh in a proper way.
Now the Query is as under:
(A) Whether the capital gains obtained by Tara singh on this property is taxable.
(B) If so at what rate and how it is calculated for same.
(C) In what way exemption from tax can be achieved
Pls educate on this & oblige.
Saurabh Bajaj
07 January 2012 at 22:57
Dear Experts,
I have a car which is parked in the alloted parking space in the society compound.
Somebody purposely broke the headlight of the car. The security guards have rotating shifts. Everyone is saying that it dint happen when he was around.
I have not yet approached the insurance company. I may or may not get a claim. But my question is, dont I have any right to lodge a police complaint against anyone. I have strong doubt, that this has been done by someone purposefully.
Kindly guide.
prithwish sengupta
17 December 2011 at 11:02
Respected sir,
I have purcahsed a house property in my individual name (eg. Mr. Ramesh, religion HINDU),for this purchase i have taken a housing loan from bank of india.
now, i have let this propety out for rent of Rs 15000 p.m.
Following are my queries
1.Can i create a H.U.F.and introduced this house property as capital contribution to the HUF?
2.IF yes, can i claim rental income as income of the HUF?
3. As i am paying the installment in my individual capacity, can i transfer this loan too to the HUF as liability and pay out of income generated from the HUF and claim deduction as per different provisions of I.T.Act?
4. even i pay instalment in my individual capacity for property, am i eligible to claim deduction u/s 80c for principal and Deuction u/s 24 for interest element for HUF income?
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Advance tax for senior citizen in case of property sale
Dear Experts,
My father is a senior citizen and has sold a property in Nov 2012, wherein the long term capital gain tax works out to be Rs. 3,04,000.
Does he have to pay advance tax before 15 Dec 2012 or can he pay total tax at the time of return filing ?
He has no business income. He gets small pension from old employer.