Dear Sir,

Request your advice regarding the exemption criteria in case of interest and principle amount repayment for home loan.

Thanks

I have purchased a residential flat in 1989 & my brother has stayed in the same on goodwill.

Now I am thinking of selling the premises & from the sales proceeds plann to buy two separate premises - one for me and one for my brother .

How best to minimise on Capital gains tax.
Can I show the flat bought for my rother as gift to him?

Kindly let me have your valued suggestions.

I want to know,i want to prepare a balance sheet of an individual,so that i can know the capital amount available for utilization.

Is it mandatory to file balance sheet with IT return.
Or just prepare a Balance sheet for our record.

I had 2 flats adjacent which I had joined and purchased in 2006 then I sold them in 2008 resulting into STCG of 12 lacs. Then I bought another flat in 2011. I had not filed any return till date as my income used to be below lowest slab. please show me a way out.

Friends my Total income (Income from house property) is less then exemption limit but my client (Bank) is deducting TDS, for which i have to claim refund every year.
Is there any way by which i can stop this deduction???

I have filed an ITR of assessee where same income got considered twice for tax computation & the return got uploaded.Now I have received NOtice u/s 139(9) for Defective Retun.What should be done in this case.please help on this...

Dear Sir, As per sec 194IA if the total consideration for any immovable property exceeds 50lakhs then TDS @ 1% needs to be deducted. My query is if say total consideration is 65 lakhs including service tax and service tax is of 5 lakhs then TDS u/s 194IA needs to be deducted on 65 or 60 lakhs???

One of my friend is stuck between 2 options and wants to weigh both the options from tax point of view:
1) His NRI father from his Nre savings a/c. gifting his mother a sum of Rs.5lacs through cheque for the renovation of house in India in her name
2) His NRI father from his Nre savings a/c. gifting his son a sum of Rs.5lacs through cheque and then he in turn gifting his mother for the renovation of house in India in her name

Dear sir/Madam how it could be possible to convert black money to white,and what are the ways it could convert.

Whether Monthly compensation or support money received by widow or legal heir of deceased employee from employer is taxable in hands of widow or legal heir?

Please give your opinion.