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Queries Participated

atul   19 February 2014 at 21:14

Income tax

I am a salaried person.I have deposited money as FD in my name but interest earned is more than 10000 rupees.can I deposit money in the form of FD in my wife's name?will she get the exemption on interest earned on FD under income Tax rule?

P V SASEENDRAN   23 July 2013 at 16:41

Tds deducted u/s 194j

Dear Sirs,

One of my friends is working in a limited company on retainership basis and his remuneration is paid after deducting TDS @ 10% U/S 194J.

He has got no other income this year excepting Bank/PPF Interest and Long Term Capital Loss. All these are exempt income under relevant clauses.

Until last year he has been filing his ITR in form No.2 and his remuneration is shown as "Other Income". However, as his TDS is deducted u/s 194J, his income is to be treated as professional income and professional income return cannot be filed in ITR-2. For this, as I could understand, his return is to be filed in ITR-4 which appears to be a wastage of stationery (ITR-4 comes is about 40 pages) and time consuming.

Can anybody advise whether there is any provision which allows him to file his return in ITR-2 ?

Thanks and regards,


PAWAN PARIKH   06 July 2013 at 20:48

Lic agent commission

Hello Sir
In F.Y 2012-13 one LIC Agent got LIC Commission near about 28 Lacs , I want to ask you it cover U/s 44AB ? how i calculate his commission limit either in turnover basis limit which is 1 Cr. or in Professional Fees limit fees which is 25 Lcas . I think there is no need to do audit U/S 44AB so Just I want to Confirm from experts so please suggest me that Audit is required or not ? and one more If audit is not require then i can file return us 44AD ?

Bhaskar Ghosh   22 January 2013 at 21:02


1. I have availed LTC and travelled to a place and had also availed the leave encashment for LTC.
2. But due to some reason I did not submit any LTC claim thereby making my journey my personal one and refunded the entire amount of LTC advance money paid to me but not the leave encashment amount .
3. Is the leave encashment automatically be recovered for not availing LTC or I have to mention to my office that I wish to refund it.



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