Basics of the tax .....

Whether not ordinarily resident can give form 15g/h and form 60 its belonging to residents

and NRI how the make tax payment if they don't have PAN

Form 15G is meant for non-senior citizens, where as Form 15H is meant for senior citizens. If these forms are submitted to bank, it wont deduct tax and pays interest as accrued. However, NRIs are not eligible to submit Form 15G or H, whether or not they are senior citizens.

Basics knowledge gives us a strong platform. Keep it up!! Thnx a lot.....

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vry much useful 2 all cci'ties, simply presented n  easily undstud by all,

Incase of sale proceeds of Rural Agricultural land, it is taxed neither a agricultural income nor Capital gain income.. It just goes untaxed.. In fact the same doesn't appear in the Income tax Statement too, while computing the Income tax payable/refundable.. 

@ Srikanth....

As per explanation 1 to sec 2(1A), sale proceeds of rural agricultural land will be deemed as agricultural income which is exempt u/s 10. Explanation is as follows for your clarification in which only urban agricultural land have been excluded...

   ¹²[¹³[Explanation 1.]—For the removal of doubts, it is hereby declared that revenue derived from land shall not include and shall be deemed never to have included any income arising from the transfer of any land referred to in item (a) or item (b) of sub-clause (iii) of clause (14) of this section.]

what is the treatment of Housing loan interest during preconstruction under sec 80C?

Good Work dear............

what is the treatment of Housing loan interest during preconstruction under sec 80C?

thanks for basic information.

bookmarked :) 

Thanks Renu for starting such good Forum...

A quick recap of what we have learned studied.

Looking forward for your more posts.....

A big Thanks for your contribution

Housing Loan Interest is not Covered under section 80C

but Covered under sec 24(b) - interest on borrowed Capital.