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

When a father HAS GIVEN THE GIFT IN FORM OF DEPOSTING CHEQUE BY WAY OF RS MORE THAN RS 1 L IN CHEQUE , IS CLUBBING PROVISION APPLICABLE?
HOW INCOME TAX IS TREATING THIS GIFT ?
TO WHOM taxability is applicable?
I have made gift deed on stamp paper with witness.
Pl suggest the recoomendation.

hi plz tell me wat all document i needs to collect from client for salary, house property return, business income, capital gain from shares and other assets,other sources income.

I got gift from my mother in current year a Building purchased 30 year ago, dont know its cost.

Now I have sold this building for Rs 5000000

So How to record in Books, what is the Tax Treatment???

How to get FMV as on 1.4.1981????


please suggest!!!!!


thanks in advance

Client have purchased underconstruction in 2008.
Token 5Lac in May 2008.
Purchase Deed Aug-2008 of Cost 29.5Lac.
Due some issues Builder modified the plan and done rectification deed in 2011.
Got the Possession in Jan-2013.
And other Cost of Service tax/ Registration / VAT is 4Lac.

Client have signed Sell MoU of 70Lac in May-2013.

And Purchansed new house in Week After by Token of 5.25Lac.


Whether this shall be STCG or LTCG.

If Employee has not retired person but he took the leave encashment on continue job that time what exemption limit for encashment. Please solve my query.

Hello All,

X company made payment on behalf of Y for security services availed by Y and security services invoice is in the name of Y. As services are taken by Y , it is Y company obligation to deduct TDS and remit it to Govt. But X company has already deducted TDS and remitted to Govt.

In this case can Y comp take certificate from X company that Y comp obligation was discharged by X?

Please suggest me, Thanks in Advance.

Dear sir while furnishing the the detail of ltcg from sale of house...cost incurred in purchase of land + construction cost.....should we just provide the ammount incurred in construction of house ...or do we have to provide some sort of documents supporting the constrution cost incurred...

Purchase date of land- 1988
cost of land- 48 thousand (48,000)

Cost of construction yr 1990- 3 lac
cost of construction yr 1995-2 lac

Sold the house in 2011
ammount- 18 lac

Should v just provide the figure of construction cost
Or do v have to provide some sort of documents supporting the constructin cost?

Pls guide
Thanks