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CBDT will pay interest on refund for excess TDS deposited


Payment of interest on refund under section 244A of excess TDS deposited under section 195 of the Income tax Act 1961

Inclusion of interest income in the return


Information regarding interest earned by individuals and business entities on term deposit is filed with the Income Tax Department by banks including co operative banks and other financial institutions and State treasuries etc Form 26AS reflects only those payments on which tax has been deducted and

Central Govt. cuts PPF interest rate to 8.10% from 8.7%


Interest Rates on various Small Savings Schemes for the 1st Quarter of 2016 17 notified Additional Interest Rate spreads which the Government allows on Small Savings Schemes like PPF Senior Citizen Savings Scheme Sukanya Samridhi Scheme and NSC etc are being continued and included in the rates notif

E-Assessment to be expanded to 7 cities


Limit of Deduction of Rent Increased from Rs 24 000 to Rs 60 000 100 Deduction of Profits for 3 out of 5 Years for Start Ups withdrawal upto 40 of the Corpus to be Tax Free at the time of Retirement Deduction of Additional Interest of Rs 50 000 Per Annum for First Time Home buyers New Dispute Resolu

Interest rates of small saving schemes to be recalibrated


Interest Rates of Small Saving Schemes to be recalibrated w e f 1 4 2016 on a Quarterly Basis to align the small saving interest rates with the market rates of the relevant Government securities Interest rate on savings schemes based on laudable Social Development or Social Security Goals including

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Experts Opinions

House property interest deduction


One of my client having self occupied property they took construction loan jointely brother on 15 07 2015 In f y 15 16 bank provide interest certificate of rs 70000 Can we claim such amt as deduction Construction will complete in next 6 months

Tax or interest is allowable


Whether tax and interest paid on regular assessment demand by the department is allowable as per income tax

Is car loan principle or interest eligible 4 tax deduction?


I m a government employee I have been sanctioned car loan of 8 lakh rupees in July 2016 How can I best save my income tax while filing returns for FY 16 17 next year Please help as my total income from salaries and other sources for FY 16 17 would be in 30 slab Thank you

Pre construction interest


Hello All I am an accountant and needs your advise The client had taken home loan on 6 05 2006 and the loan has been cleared on 01 06 12 Loan Amount Rs 1916000 8 5 The total Interest paid was Rs 894166 The possession date of property is 25 07 2015 Property is self occupied Now can I take the benefit

Interest n abatement


1 wt is interest rate as of nw in delay in filling of service tax 2 one of the client is letting mandap without catering so he can avail any abatement under service tax he is collecting oly hall rent nt food n all if he is eligible den tell in wt n cess n hw to fill it

Discussion

Tds on interest where that interest isn't charged to busines

Hi My doubt is whether TDS is to be made on interest paid to loan creditor when such interest is not charged to PL instead debited to Capital A c Mr A is a Tax Audit Assesse he has taken loan from Mr B for personal use and paid interest Such interest is not charged to Business PL A c It is debited t

Interest on housing loan deduction in income tax act 1961

Hi It is case of Deduction of Interest on Loan on House Property under the Income Tax Act 1961 Mr A Mrs Aand Mr B Brother of Mr A are the three persons who are involved in this case These are all Individuals 1 Mrs A purchased the house property of INR 40Lacs 2 There is no income source of Mrs A So M

Interest in tds challan

Whether it is necessary to show Interest seperately in ITNS 281 TDS 2500 Interest Rs 75 was paid in a single challan under Head Income tax Interest portion was not seperately shown as Interest in ITNS How to deal with same in TDS Return

Home loan interest

If i have 2 house property from which i will consider 1 property as a deemed let out now my querry is whether interest which i paid on home loan is exempted u S 24B or not because i had not given that property on any rental So whether i can claim interest paid as exemption or not

Is pricipal and interest of education loan is deducted?

Sir For salary person payment of education loan can get exemption under any section

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File Download

  • Service Tax Delayed Payment Interest Calculator w.e.f. 14th May,2016

    Service tax interest calculator wef 14052016
  • Income Tax Calculation 2016-17

    Prepare form 16 upto 500 employee in single excel sheet Tax calculation and prepare section 89 1 relief from F Y 1985 86 to 2016 17 View Tax Rate for last 31 years Calculation of Tax under section 234A 234B 234C prepare challan no 280 281 Find out TDS TCS rates Find out Maturity value of Term Deposit RD House Rent Allowance rebate calculation and find out interest on NSC and much more in single excel sheet
  • Ind AS 7 "Statement of Cash Flows"

    This is the summary of Ind AS 7 It prescribes Objective Scope Operating Activities Investing Activities Financing Activities Some Specific Terms like foreign exchange fluctuation Interest Dividend etc
  • Income tax calculator And advance tax calculation

    Version 6 1 Income tax calculator Individual Company and Firm Following type income calculate tax 1 Salary income 2 House property 3 PGBP Income 4 Capital gain U s 111A U s 112 and Normal capital gain 5 Other source income 6 Agriculture income 7 interest U s 234A 234Band 234C Also HRA calculation
  • Income Tax Calculator

    Calculation income tax AY 2017 18 2016 17 2015 16 2014 15

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Articles

Register of contracts and arrangements in which directors are interested


Section 189 of the Companies Act 2013 the Act read with Rule 16 of the Companies Meetings of Board and its Powers Rules 2014 the Rules provides for maintenance by every company of a register to record particulars of all contracts or arrangements to which sub section 2 of section 184 or section 188 o


Can you trust the online financial calculators?


Yes it is true that financial retirement calculators are simple to use Based on a few assumptions that you input on your computer about the future it instantly provides you with a number that indicates how much one needs for his her retirement This calculation might appear accurate to you in terms o


ST - Interest rates changed again !


There are two provisions under Finance Act 1994 dealing with interest on delayed payment as given below adsbygoogle window adsbygoogle push Sl No Situation Section No 1 Amount collected as service tax not liable to pay and not deposited with the government It is customary under indirect taxes that w


Limitation in case of recovery of interest on delayed payment of central excise duty


The judicial precedent always plays vital role to clarify the law particularly when statute is not clear cut in regard to any issue There is the same situation in the case of demand of interest on delayed payment of Central Excise Duty The Central Excise Act 1944 provides provision for recovery of i


Bonds, how to choose in falling interest rate regimes?


Bonds and debentures are terms used interchangeably both represent long term fixed income securities The cash flow stream in form of interest and principal as well as the time horizon i e the date of maturity are well specified and fixed Bond returns can be calculated in various ways Coupon Rate Cur


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Updated on : 8/1/2016 1:54:11 PM


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