Dear Experts,

What is the formula for arriving basic rate of DDT 17.647%? When the Act says DDT is (15% basic rate+ 12%surcharge+3%cess). Also effective rate is 20.358%. How the grossing up is also done?

Iam confused!!! I would be grateful if some body can clarify this.

Regards,
Arjun Rajagopal

A assessee is under basic exemption limit , so didn't file the return ,he didn't submit the form 15G(forgets)to bank ,can assessee claim the refund of tds deducted by bank.

REFUND CHEQUE RECEIVED IN THE NAME OF THE DISEASED PERSON AND NOT HAVING BANK ACCOUNT IN THE NAME OF HIM. I have mentioned my bank account(legal hair) for crediting refund amount. but they have sent cheque in the name of diseased. Kindly suggest further what to do now???

Dear Sir,

Is it necessary to claim additional depreciation specified in income tax act under section 32(1)(iia) or is it the deprecation mandatory to claim or optional, kindly respond form this query. is there any case law for that please mention that case law.

thanking advance you sir,

An amount of Rs 670605 is credited and tds amount of Rs 13751 are reflected on form 26AS of one of my client in FY 14-15. My question is Can I show income in ITR is less than the amount which is credited on 26AS? if yes How much amount can be minimized in ITR in comprision of 26AS as I already said that on 26AS there is 670605? If no why?
I am trying to minimize the income in ITR in order to claim refund. but amount Rs 670605 on 26AS has made me confused?

RECENT BUDGET CONTAINS PROVISION FOR TAXATION OF PF ACCUMULATION @60% OF CORPUS BUILT FROM EMPLOYEE'S CONTRIBUTION AFTER 1.04.2016 AT THE TIME OF WITHDRAWAL/RETIREMENT. THIS IS BASED ON EXEMPT EXEMPT TAX (EET)
SUPPOSE IF AN INVESTOR HAS NOT CLAIMED TAX BENEFIT UNDER 80C-BECAUSE HE EXHAUSTED RS 1.5 LAKH TAX EXEMPTION LIMIT THROUGH OTHER INSTRUMENTS LIKE PRINCIPAL OF HOUSING LOAN,INSURANCE POLICIES,TUITION FEES OF CHILDREN-IT WILL AMOUNT TO DOUBLE TAXATION. WHETHER IT IS EXEMPTED UNDER THE ABOVE CIRCUMSTANCES
I REQUEST EXPERTS TO CLARRIFY
V.L.NARASIMHAN BCOM,ACA

Dear Sir,
An assesse has invested in PPF for Rs. 1.50 Lac and also invested in Sukanya Samriddhi account of Rs. 1.50 Lac for his girl child for the F.Y. 2015-16 relevant to a.Y. 2016-17. My question is whether he will be get deduction u/s. 80C of Rs. 3.00 Lac or Rs. 1.50 Lac.

Thanks,
Abhishek.

Hello, If one have filed ITR-4 for AY 2013-14, and ITR-4S for AY 2014-15, now he want to file ITR-4 for AY 2015-16, Can he do so? or is there any problem? pls help

Dear Sir,
In AY 2015-16 my return is under process and from the month of Dec. 2015 to till date, cpc call centre keep telling me to wait till the process gets completed. Now the Feb. 2016 is almost passed. Why are they taking so much time to process the return?

Please advice me.
Thanks.

Sir,A painter who sells his paintings through public exhibitions should be treated as a businessman or professional for tax audit purpose??