Please confirm if my understanding is correct for AY 13-14--

Any salaried employee if he is getting exempt income under sec 10 like HRA, LTA, conveyance allowance, need to file ITR-2, if this exempt amount exceeds Rs 5000/-.

Does PPF interest and Gifts received is also considered exempt income or tax free income. Are they required to be shown in exempt income "Section EI"

RESPECTED SIR,
ONE OF MY CLIENT GIVE ME THE DETAILS ABOUT TDS DEDUCTED AGAINST COMMISSION FOR A.Y.11-12. I SEE IT FROM 26AS IT SHOWS TDS RS.3230.00 AND PAYMENT RECEIPT IS RS.32300.00.

I filed itr4 on 29.05.2012 (after due date) and shows gross receipt rs.195200.00 and gross profit Rs.117500.00 in no account case, and i got refund on dated 12.09.2012.

New the problem is when i see the 26as again it shows payments rs.365448.00 and tds rs.36546.00.

my question is ==>> how i will claim the balance tds? CAN I GO FOR RECTIFICATION, OR THERE IS ANY OTHER TREATMENT.

thanks

If a father gives 20lac as a gift to son and then the son invests that in a house, who is taxable in this case and what is the tax rate?

Thanks a lot

Please solve my query regarding capital gain & exemption:
Q. In F.Y 2011-12, Long term capital gain is calculated as follows:
Long term capital gain on Gold : 10,00,000
Long term capital gain on House A : 20,00,000
Total 30,00,000
House B is purchased for Rs. 30 lacs
Less : Exemption u/s 54 (For House A) : 20,00,000
Less : Exemption u/s 54F (For Gold) : 10,00,000
Net Long term capital gain Nil
Now in F.Y 2012-13 House B is sold for Rs. 54,00,000 and House C is purchased for Rs. 90,00,000/-
Please tell me the tax treatment and whether exemption u/s 54/54F can be claimed for House C

VAT of Last year i.e Oct 2011-March 2012 is paid in the current year i.e April 2012 so can we claim the expense in the Current year i.e F.Y 2012-13 ???

In the Finance Budget 2013, Finance minister introduced a new section 80EE in Inome Tax Act, which is related to additional deduction of Rs 1 Lac for payment of intrest for housing loan to a certain condition.

In the conditions one point is that “Interest allowed under this section can’t be allowed under any other section like 24(b).

So my confusion is that “This benefit would be additional benefit over Rs 1.5 lac as allowed under section 24(b) or this anyone can avail either 24(b) or 80 EE”..

Please elaborate.

I want to know whether individual making single payment of Rs.36,000/- to contractor for renovation of his house, whether tds to be deducted from payment or not

Above 5 lac income, tax rate is 20 %, but generally what happens if a person having income more than 5 lac, he has a bank F.D. on which the bank deducts tax at a rate of 10 % and generally it is not shown in the income tax return by any person, so it is also one type of fraud, so what should be done about this.

I got a letter from CPC for an arrear demand of Rs. 494 for the assessment year 2008-2009, actually for that year my tax liability was Nil, so I produced all the necessary documents to income tax office Bhuj-Kutch where I had filed my return, so they made the necessary corrections in the system and as a proof they gave a copy of rectification order on dtd. 29/04/2013, but till today it is not updated in the outstanding tax demand which is shown in my account on the incometax web site, so please give me the guidance what should I do.

Double Taxation Agreement between UK & India

Is Widows UK Government Pension recieved in Pounds converted to RS by them and credited to Bank in India and this pension arising from working in UAE for UK Government , exempt from Tax in India under above ? This income is not taxed in UK

The current ITR 2 has provision to report the same under FSI under DTAA. Till now the pension has not been disclosed to IT as advised by CA from the time pension was being recieved and the person recieving is very senior citizen

Need your observations, advice and recommendation

Thank You