hii
i have taken Personal loan from bank ...
and make Fdr with bank
i have received interest from bank on fdr
and paid interest on bank loan
while i am calculating income from other source can i claim interest paid on loan as expenses
plzzz r
I sold an agriculture land in Assessment year 2016-17. The land is situated 12 kms away from the limits of the municipal and having populaiton less than 10,000. The purchaser gave me amount of Rs. 14,332,999/- after deducting TDS of Rs. 144,778/-. The sale price of Land was Rs. 14,477,777/-.
So, Capital gain will be taxable or tax free?
If Tax free, How should I have to show that?
a firm has sold a land and received Rs.20L consideration in cash..whether this will be required by statutory auditor to disclose in tax audit statement under 269ss ?? whether he is liable to disallow it while computing tax ?
Answer nowI had filed the return by mistake taking tax credit e.g tds from employer ,but actually i has pay self assessement tax for that year . e g. 2014-15. I had filed rectified return but again Ireceived a notice u/s 156. what we will do . please reply.
Answer now
SIR,
HOW TO CALCULATE NOTIONAL RENT ON HOUSE PROPERTY SITUATED IN PUNE
My Client has taken a loan of Rs.45,00,000/- lakhs for purchase of flat, last 2 years back. And has ancestral property, he resides at his father's house. He has given the flat for let out for the full year. He is paying interest on borrowed capital Rs.4,00,000/- lakhs and principal amount of Rs.3,00,000/- lakhs.
Can my client is eligible for 'interest on borrowed capital' for Rs.4,00,000/- u/s.24(b) and 'principal amount' of Rs.3,00,000/- (Subject to Rs.1,50,000/) u/s.80C.
Please clarify any one
Respected Sir/ Madam,
One of my client, Insurance agent have not file ITR for the AY 09-10,10-11,11-12,12-13 and want to claim return against TDS deducted for the said year.So kindly give me a application format u/s 119(2)(B).
Anticipating a favorable response.
Gud morng to all... sir one of my client hv two form 16. he had worked for 6months in one company and left there and join to another company . both the company hv deducted tax according to income of my client i.e according to 10%slab rate bcoz his income falls under 10%slab rate in both company. but while preparing IT RETURN his total income from both company falls under 20% slab rate. Is it any remedy to calculate and pay tax 10% seprately . Or hv to combine both income and pay tax at 20%slab rate. plz help me in this regard.
Answer nowDear experts, i want to know, i have a commercial property on which i am getting rent, if i am taking a loan by mortgaging my commercial property , then can i claim interest paid on such loan as deduction while computing income from house property. Thanks in advance
Answer nowIf my income is 100000 then how will it be computed in 44ADA? 50% of income?? 50000 will be charged to tax? or my net profit taking into consideration 50000 will be charged??
Answer now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Interest paid on loan can be claim as expenses