I have paid self assessment tax of 16000/- on 25.6.13 for ay 13-14

do i have to calculate interest under sec 234b for default in paying tax before 31.3.13 for 3 months ie upto june or 4 months ie upto july.

pl advise which is correct

16000*1%*3 or 16000*1%*4

Respected Sir,
I have filed an IT return for one of my client in A.Y 2011-12 within the due date and got long term capital loss on bonds occurred in the same year which have been not set off in the same year because of no gains which I have carry forward in the next A.Y 2012-13, but in A.Y 2012-13 I have filed the IT return after the due date and carry forward the same loss as mention above.
In the current year A.Y 2013-14, my client got some amount of long term capital gain, so my question is that can I get the set off of my loss against this gains.

Thanking You
Faisal Sharif

A photographer receives income from clients as his service charges. In which category it will be taxed. Income from profession or income from business?
And how much will be the Tax audit limit for FY ended 2011 and 2012?
Can he file return under presumptive taxation method?

My Client has not filed his return for the last 10 years but his TDS has been deducted every year can he file his return this year or will it Create penalty payment of last years return not filed.

Hi everybody,

My mother got family pension arrears of Rs 2,07,051 for last 3 years(from 1st sept 2009,2010,2011) in Sept 2012 , also she got Rs 75,192 family pension for current year. There was mistake in my fathers Pension order hence it took 3 years to receive this family pension. My mother is senior citizen. I know that family Pension is taxable as income from other sources after a deduction Rs.15,000 also I know that there is a relief u/s 89 , but I have difficulty in understanding how to calculate this relief as my mother was below taxable limit in all this years .Also I not aware whether this deduction of 15000 can be claimed for all years ?? My mother have other interest income and house income for current year.... Please help me how to find this relief... Is any form needs to file to income tax dept to get this relief?

dear sir,
my client hes been received notice u/s 143(2)for his return of incometax of a.y.2011-12 filed on 08/08/2011.and paid incometax for same with return.now after checking his records i have come to know that some other income not shown in return of incometax like( pension,fdr int.& bank int.total of Rs.31263.tax on it rs.3150.what should i do.?can he pay tax before attend to ito.or can he disclose his other income at ito?

Is this section applicable of transfer of Leasehold property under which only lease rights are transferred by the original lessee and actual ownership remains with the government. Also what are the consequences of non deduction of TDS in this case.

A company under liquidation has property at cost price stated in books at 1.20 crs. It sells the property at 1.60 crs. On this transaction it may have to pay capital gain tax and then the available proceeds can be distributed to equity stake holder after settling the other liabilities.can this capital gain can be saved? since it cannot invest in bonds u/s 54EC as it is going to be wound up.

One of our employee has retired last year...Now he is working as associate with marketing firm and having income that of commission on which TDS Has been deducted u/s 194h. In addition he has interest income from bank on fixed deposits..

My question is which return form he should submit for AY2013-14.

Kindly clarify the matter at the earliest..!!!

Hello All
Can any one suggest me about taxation of IDFC Bonds purchased in 2012. The interest is taxable or not?
Kindly advise.
Regards
Sanjay