Hello,
I purchased a residential property in Apr 2008 & now I want to sale in Apr 2015. The property is jointly owned by me & my father.

I wish to avail exemption in capital gain by either investing in another property / Capital Gain Account Scheme / REC bonds.

I also own another property jointly along with my wife.

I read an article saying that capital gain exemption is applicable only if the applicant owns one residential property at the time.
1. Is this correct?
2. If yes, any alternative way I can avail the exemption?
3. If no, should the new investment be jointly done by me & my father so that both can avail the exemption?

Dear Experts,

Please help me about unclaimed TDS Challan of FY 2010-11.

We were paid excess TDS in September '2011 for FY 2010-11 u/s 194B & 194J which are still unclaimed (as shown on TRACES).

Can We claimed this challans in any further financial year ? Or its possible to get refund..? Or any other option..?

Please reply with the procedure..

Hi,

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...

One of my clients remained as a sleeping partner in a partnership firm for a period of two years. On account of the Remuneration Receipt the client paid income tax and filed return. After two years the client took retirement from the partnership firm and the income remained non-taxable for the Ay 2013-14. What to do in this case ? To file NIL return every year or the client should declare under the option of compliance that the income remained non-taxable for the Ay 2013-14 and therefore filing of the the return had to be stopped . Please guide me. Yours Tarique 982 1630 130

Dear Sirs,

I would like to know that if Bonus Received from Insurance Company, it is taxable or not ? and on which section ??

also want to know about dividend taxability

thanks everyone

Dear sir,

My client has earned profit of Rs. 673567/- in F.Y. 2013-14 but due to differance in depreciation as per Book & IT Loss of Rs 722271/- is incured . The client is a Company. In F.Y. 2014-15 client has incured profit of Rs.442556/- & Depreciation as per Book & IT is RS.1000000/- & Rs.1849815/- respectively. Will you please explain how to calculate tax as per IT & Sec. 115JB?????


Thanks in Advance

Dear Experts,

one of my client being a lady has owned a residential house property since 2005.She is regular I.T.Assesse.During F.Y.2013-14 for which a return is to filed now prior to 31/03/2015. She has sold the said house in June,2013 & purchased another residential house property in April,2013.The investment in new house property from means of unsecured loans from relatives which is exceeding the sales proceeds from the sale of old house property likely to be sold in June,2013. Thereafter she has paid the said unsecured loans from the sales proceeds on sale of old house property during the same year.

Now query is as whether she can claim a deduction under section 54 of I.t act to avoid long term capital gain on sale of house property as she invested entire sales consideration in purchase of another new house property to claim the benefit of section 54 or not

Please reply at the soonest to enable file the income return prior to 31/03/2015.

Thanks in advance for prompt reply.

Hello Everyone !

Please answer my below question:

Can the partner's salary be enhanced under section 40b if the profits of the partnership firm increased during assessment?

If in the opening Balance Sheet The Provision of Income Tax is Rs.15000/- and at Present after self assessment i have Paid Rs. 17000/-
what should be the accounting entry should i pass in Tally.

dear sir,

one of my client is medical officer, he has obtained housing loan from the bank. the housing loan status is a joint loan account. my client and his mother in law(wife's mother). his mother in law is housewife and seniour citizen.
now my query is my client can claim full interest deductions u/s 24 and principal amount u/s 80c.

please suggest me