I have applied PAN for One of Korean Staff (on 08/08/2011) whose Surname is two character which is considered as INITIAL / SPECIAL CHARACTER in income tax data base, which is why his PAN is pending for more than One Year.

Now he has to apply for VISA extension but authority is not allowing him for extension with out PAN and he gets only two months to get his PAN.

Kindly suggest how do i get PAN for him.

If a person having NRO account with a bank wants to transfer funds into NRE account, whether he is required to issue Form 15CA and obtain certificate in Form 15CB ? Please guide and also please tell me any other formalities to be complied with.

234E - Fee for defaults in furnishing statements- If a person fails to deliver or cause to be delivered a statement within the time prescribed, he shall be liable to pay, a sum of Rs 200 for every day during which the failure continues. This provision is applicable from 1st July 2012.

Now my question is - will this section be applicable for any of the Quarter of F.Y. 2011-2012 i.e if any person who fails to deliver the Quarterly statement relating to F.Y. 2011-12 within the time prescribed and the person submits the statement after 1st July 2012. Then will this section be applicable to that person and penalty of Rs 200/- per day will be levied.

Sir, one my client is Flat owners association, regd society, got PAN for submitting the same to bank while making the fixed deposit. pl clarify whether its income is taxable, it has Rs80000/- ecess of income over expenditure (including the accrued interest on FD, for the year 31.03.12.

Mr X has purchased a flat in his name. He has also obtained a loan in his name for this purchase. Mr X is holding 60 % in his company Mr X Ltd. The payment of loan is being made by company only. As a result deemed dividend u/s 2(22)e is attracted. To avoid this, can we show that the company has purchased the flat , and it is held in the name of shareholder ?

We will disclose this fact in the notes. We will treat this as an investment and not claim depreciation u/s 32. Kindly advice

i have lost my password to login income tax site and at the time of reset password options are changed now:

1)Secret question
2)Acknowledgement No of A.Y.11-12 + Bank account last 6 digits
3)Pan Card details

Now, my problem is i dont remember the secret question, by using pan card detial option they send the password in my email ID registered in PAN which is not known to me, and the last when i m entering my Acknowledgement no and bank a/c no an error showing mismatch in ack. no is showing which i cross check is absolutely correct.

hence, i m unable to reset my password.

Plz help.. its urgent

Dear Sir,

Apart from my salaried income, I also receive commission from my Amway business.
I would like to know the type of ITR form to be used.
Also let me know the procedure/form to show the expenses incurred for my Business in order to claim the refund.

Thanks in advance.

Dear Experts,

An assessee has taken a Mortgage Loan(as recorded by bank)against his house property form a bank amounting to Rs. 1 crore, out of which Bank paid Rs. 50 Lacs for paying of his existing House property loan and remaining 50 Lacs has been given to him in cash.

Bank has issued a interest certificate mentioning that Rs. 500000 has been paid by assessee during the year. Noting has been mentioned that this interest is eligible for deduction u/s 24b.

The purpose of taking this mortgage loan that assessee wanted to pay his existing housing loan and remaining amount for his business expansion.

However, Bank has taken it as fully mortgage loan and they are denying to issue any interest certificate u/s 24b for the protion of the loan amount which was used to pay off his existing housing loan.

Now please suggest me that where assessee will get deduction of the interest paid and how and on which amount?

I(resident individual)purchased house property and in sale deed only my name is there and my wife is not the co-owner but i have taken housing loan in the name of my wife(resident women assessee)and i am also a co-applicant and repayment of loan is made from my S/B A/c. So loss under house property(interest payment)and deduction u/s 80C(principal repaid) is to be taken by whom?? myself or my wife??? plz quote similar judgement if any...

One of my friend is a (bachelor)handicapped person and working as a bank employee.He wants to file his return.
Can any one of u guide me under wht sections he himself can claim deduction.

One more his father pays a premium on his name and his father claims it as he is also an employee.

So now the handicapped person can also claim the deduction of premium while filing return or only u/s 80U and any more....
Thank u