sir,
first time i got wrong name in pan card yr 2006. then after i got true name pancard yr 2006.
my problem is, my first wrong name shown in all incometax. pancard. tds in form 16. it is not change. i cal to calcenter incometax nd pancard nd tds bt they told to eachother authority name like tds.pan.itax.
my complain is nt solved. plz guide me..

A private limited company is incorporated on 27th February, 2013.There was no transaction from 27th Feb, 2013 2013 to 31st March, 2013.Bank account was opened in April 2013.
Is it necessary for Company to file Income tax return for Financial year 2012-2013(AY 2013-14).
Or it can file return for 27th Feb 2013 to 31st March, 2014 in AY 2014-15.

Dear All,
Can an Assessee avail the exemption of HRA under the head "Income from Salary"( as he is living on rent) and simultaneously avail the exemption of Interest paid on Housing Loan on Self occupied property(SOP) under the head " Income from House property".

The Interest paid is on the SOP but the same building is under Redevelopment process and thus not in a condition to reside.
Thus can he avail the exemption simultaneously.??

If He can not avail the Interest paid on SOP then can he carry forward the same to get the exemption in the subsequent A.Y. and what would be the Time limit till the assesee can carry forward the same.

Awaiting for the response.

I have received an intimation u/s 143(1) from CPC (Dated 04/07/2013) demanding the full amount+interest of previous year (A.Y.2012-13) TDS. I was shocked after receiving the notice as TDS is already deducted by my employer. When I was thoroughly going through the last year (A.Y. 2012-13) ITR-1 that I filled and submitted I found I had entered wrong TAN number. Is that the reason that I got this intimation u/s 143(1)?

In this context I would like to know what I need to do now. They have charged interest u/s 234B and 234C on TDS already paid. Still do I need to pay that interest amount?

Please advise me.

An assessee has Long Term Capital Loss of Rs. 6492 on Debt-Oriented Mutual Fund (Long Term Capital Gain on Debt-Oriented Mutual Funds is taxable @ 10 % without Indexation or 20% with Indexation . whichever is better for Assessee) . However , after applying Cost Inflation Index to Purchase Price & then calculating the Long Term Capital Loss , the loss is working out to Rs. 1,15,775 . There is no Taxable Long Term Cap. Gain in same year so this loss needs to be carried forward . Should the Long Term Loss be carried forward as Rs. 6492 or Rs. 1,15,775 ?

Hello Sir,

In Public Limited Company one right issue is being made to all shareholders with 1:4 ration. As in case of right issue the shares is being allotted to all share holder on discounted price. So what would be the liability in respect of capital gain tax.

The company raised capital only at the time of incorporation and after 5 years time this right issue is taking place.

I would be thankful to you.

My Client is an Indian Ship Crew member who is working for an Indian Shipping company, going abroad on an Indian Ship, and his stay in India is 166days.

I would like to know whether his salary received is taxable or not ?

He is receiving salary from abroad in his Bank account in India.

Please tell me whether he is resident or non-resident and if salary is credited to the bank situated in India then is he taxable ?

Thank You !

Our division's all 4 Qtr.return of 2012-13 have been filed.Now we came to know that salary and TDS amt.of Qtr.2 and Qtr.3 needs correction.The amt is also showing in 26AS.I have downloaded Consolidated file for Qtr.2 and 3 but RPU is not allowing correction in salary or TDS amount and showing"For matched /provisionally booked/overbooked challan/transfer voucher,update is allowed only on fields-section code,interst amount and others amt."
Do i file revised return(and How) or how to correct amt.as others can claim refund due to earlier wrong(Excess TDS ) return filing.

I AM HAVING SELF OCCUPIED RESIDENTIAL FLAT.I HAVE SOLD DURING THE YEAR 2013 PLOT OF LAND WHICH WAS ACQUIRE IN 1988 AND THE SALE PROCEEDS INVESTED IN ANOTHER RESIDENTIAL UNIT WHETHER LT GAIN ON SALE OF PLOT IS EXEMPTED U/S 54F BEING REINVESTED IN RESIDENTIAL UNIT OR NOT

I have entered into two agreements with Builder i.e., one for Agreement for sale of land and another one for agreement for construction of flat. If i club both considerations, it is more than 50 lacs. (Individually they are less than 50 lacs). And registration was done as per value of Agreement of sale i.e., less than 50 lacs. In such a case, whether am i liable to deduct TDS under Section 194 IA as the total consideration paid to builder is crossing Rs.50 Lacs? Can any one clarify this at the earliest?