As per 35D, one fifth is allowed for expenditure incurred for expense on public issue of shares of the company.. However, any expense on public on public issue of shares are not allowed as per recent judgement of Brooke Bond.. Please clarify it..

Dear Sir / Madam, How we can change the Income Tax Jurisdiction against a Individual Pan. Situation is that previously I had pan number with the address of Panipat, now I have change the same with delhi address. But when I have checked in ITR login my address is change but Jurisdiction is remain same. Can you pls confirm is it possible to change the Jurisdiction. Kindly confirm the procedure for the same. Thanks & Regards Kishore

dear experts,

please advise me how to calculate turnover for audit purpose as per given below details :-
1. how to calculate turnover for audit purpose when we purchase and sale shares on same day i.e. future & option.
2. purchase and sale of shares on different day and STT is paid. holding period below 1 year
3. purchase and sale of shares on different day and STT is paid. holding period above 1 year.

please guide me and advise as per serial number.

thanks regards,

rakesh kumar

What is the maximum deduction allowed for professional tax paid in Income tax calculation?

Deduction available for physically challenged dependent without doing expense. Which documents required for give deduction to employee disabled dependent...??


Thanks in advance

DEAR SIR,

I M INTERESTED IN PURCHASING FLAT OR APARTMENT AND TAKE LOAN AND CONVERTE THE SAME LOAN IN EMI

NOW PLEASE PROVIDE ME THE DETAIL & HOW MUCH TAX SAVING IS THEIR AND UNDER WHICH SECTION

AND ALSO CALCULATION OF TAX SAVING MY INCOME IS APPROX 750000/-



KG
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i filed my ITR on 10-12-2016 and mistakenly failed to claim deduction as per form 16.by this reason tax payable arises.instead of paying tax i uploaded the xml and i received a notice u/s 139(9) regarding defective return and to file a response within 15 days.i also was not filed it within 15 days.the wording of notice is as follows:-

Sl.No Error Code Error Description Probable resolution
1 38 Tax liability is shown as payable . The tax payer should pay the
in the return of income balance tax liability and furnish
complete details in the corrected
xml. Kindly ensure that
there is no tax payable at the time
of uploading the corrected XML.

Kindly note:
1. Please ensure no other information is changed apart from those error listed below in Annexure - A, incase of any
other changes in data, the return of income filed by you is liable to be treated as an invalid return.
2. For any change of income/ other heads, you may file a revised return as per the provisions of Income Tax Act,1961.
3. For the error codes mentioned in annexed table, the probable resolution has been provided there in.
4. Xml uploaded as above should have all the data to enable accurate processing, it should contain complete
information as furnished in the earlier xml along with information pertaining to the errors listed below.
5. The assessee is advised to use the software utility available on the website www.incometaxindiaefiling.gov.in
6. The above mentioned rectified xml uploaded in response to this notice, will be presumed to be duly verified and
correct and complete in accordance to the provisions of the Act.
7. If the above requirement is not complied within fifteen days of receipt of this notice, the return of income filed by you
is liable to be treated as an invalid return.

my problem is that:
1. how to claim the correct deduction as per form 16 so that my refund determined?
2. i can not revise it also because it is belated also.and without revising how it is possible to claim.
3. according to point no 1,i can not change any information in my earlier XML.am i right or not?

one thing i tell you that the link for response to section 139(9) is active right now.
please provide me a solution by which i can claim my refund with full process to be followed.

thanks

Dear experts, A is a owner of a home and he is given to B on lease for 5 years, for this lease refundable amount is around 1,50,000. What is the income tax treatment to Mr. A and B? can we treat this lease amount as rent income to Mr. A and rent exepene to Mr.B?

Do I need to show the properties which I have inherited in the balance sheet