kailash garg
07 March 2017 at 21:08

Purchase flat or apartments

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
9845880630


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raghulsridharan
06 March 2017 at 23:11

ca ipcc

best book for taxation in ipcc

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Anonymous
06 March 2017 at 20:58

For response of notice u/s 139(9).

hell
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

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M Sairam
05 March 2017 at 21:15

home lease

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?

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Gaurav
04 March 2017 at 18:11

BALANCE SHEET INHERITED PROPERTY

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

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oindrila srimani

Please tell me panyachet can have pan card or not. If Panchayat has deposited more than 50000 in to bank so Panchayat needs pan card or not. I am also in doubt that the Panchayat can maintain their accounts or not. They can submit their accounts or not

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M.Ashok kumar Reddy
03 March 2017 at 07:45

TDS 194 C (Applicability)

Sir I am an in Educational Institute we are receiving services from advertising company the quiry is we are paying quarterly Rs.26000 than it exceeds Rs.100000 In a year than tell me from which quarter TDS is applicable and if applicable what is the treatment of 1 quarter bill means whether we have to deduct TDS on 1 quarter also?

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Vijay Krishnan
02 March 2017 at 19:14

capital gain?

iam Venu from Bangalore. Our family is big and includes uncle, aunty, and grandchildren. We have a huge Ancestral property that has been given to a developer to jointly develop villas. Each rightful member of the family will be receiving a villa and cash. My questions are: 1. is the cash received from the developers attract capital gain, considering it's an ancestral property. 2. does the market value of the villa attract any kind of tax payable by me. Thank you.

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Salahu Pulikkal
02 March 2017 at 16:21

Income tax filing

before filing return of one assessee I paid the income tax online, But mistaken the challan number entered.. is there any remedy.? it was a belated return.

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Vaid Mohammed
02 March 2017 at 09:16

Letting out of home query.

Hello, Good morning experts. I am an owner of a registered flat in Mumbai. The flat is in my single name. Now I am planning to move in suburban area in Mumbai. Now I am planning to let out this flat and myself with family go on rent to another place. My query is : 1. Can I make my current he agreement in my wife's name as a Licensor, instead of my name? Will it be hold valid in law? 2. What tax implications she would have to bear? Our strategy is clear that we will give our this flat on rent and take another on rent, so in net there are equivalent expenses for the income we generated?

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