My client's TDS was deducted u/s 194A. His income was below exemption limits. Before filing of Return of Income and claim of refund of TDS, my client is died. Now, Is it possible to file Return of Income?? If yes then Who can sign the Return of Income?? If no then How to get refund of TDS???? Please Help....

Can Charitable trust give the bonus(in cash < Rs.20000) to its employee?

Dear Sir,
In May,2012 I sold a residential flat in Rs 26,000,00/- and another ancestral very old house at Rs 17,00,000/- in Oct 2012.In August,2012 I purchased an undercontruction flat at noida from a reseller(a person who had earlier booked the same flat under construction linked plan and had paid Rs 15.82 lacs to the builder.
I made payments of Rs 15.82 lac plus Rs 7 lac(premium) through cheque to the reseller then through a tripartite arrangement the new flat was transferred in my name by the builder.Thereafter, till date I have paid Rs 514,000/- to the builder. NOW MY QUESTION IS

1)WILL I GET EXEMPTION IN RESPECT OF CAPITAL GAINS ARISING FROM THE SALE OF BOTH THE RESIDENTIAL PROPERTIES OR ONLY ONE OF THEM,

2) WILL THE PAYMENTS MADE TO THE RESELLER (IE., 15.82 LAC) PLUS THE PREMIUM AMOUNT OF RS 7 LAC BE EXEMPTED ALONG WITH RS 514,000/- PAID BY ME TO THE BUILDER AFTER TRANSFER OF NEW PROPERTY IN MY NAME.

THANKS1

kindly guide me reg: TDS on contract,
what is the tds limitation for contract business,

Example:

my collegue made a contract for poultry business, his annual turnover is 11 lakhs, that company collect 2% in last month but collect 10% of TDS from this month on wards why? & he not run no other business, in what way he will return back the TDS amount.

1/2/2011 house(A) sold and LTCG Rs.200,000. On 3/2/2011 house(Z) purchased for Rs.12,00,000 and claimed exemption u/s 54 of Rs.200,000. Again on 1/9/2011 another house(B) sold and LTCG recorded Rs.500,000. So the question is whether assessee claim the exemption u/s 54 for house(Z) [As the said house is purchased within 1 year before the date of transfer of original asset].

I was recently joined in CA firm which have mostly clients for income returns filing. i don't know anything about incometax .
so, please show me a path in which i have to go.

Hi

I have received a letter from IT that 31991/- is outstanding tax demand under sec 143 (1) for AY 2008. I am very confused as website is also showing same. I have checked my Form 16 for FY 2007-08 and it shows Tax payable as 31039 and TDS as 38217/- so it clearly shows refund of 7178/- . However I dont seem to remember if I have filed return for year 2007-08 nor I have any proof of challan. What shall I do in this situation ? Please help !!!

Rgds
Sumit

a father transferred a residential property in the name of his 2 sons by mentioning it in the will in the year 2008. That house was a part of chawl system.

Now that chawl has been redeveloped to a building. So these 2 sons were allotted 3 flats each - 2 adjacent and 1 on separate floor. Also they were given cash consideration of Rs 15,00,000/- each.

So can these 3 flats be claimed for deduction u/s 54?

pls answer in detail and kindly give reference to any case law to support the answer....thanks in advance!

Dear Experts

I have some queries relating to death of proprietor.

Proprietor dies in the month of December and given his power of attorney to elder son.


1) From January onwards Elder son carries out the business in his name. whether the income of Deceased Proprietor(DP) from Apr to Dec is clubbed with the income of Elder son.

2) what is procedure for transfer of assets from the business say there are three sons to the DP.

3) Power of Attorney given to Elder son by DP whether he is owner of the business or not if not what is the procedure.

WHAT IS THE DATE OF ACQUISITION IN A CASE WHERE AGREEMENT IS REGISTERED ON 08/04/2010 AND DATE OF FIRST PAYMENT OF RS 100000 IS 01/12/09.