CAN A RETURN BE REVISED U/S 139(5) AFTER RECEIVING A INTIMATION U/S 143(1)

As in sec10(5)leave travel concession, is there any limit in number of childrens eligible for exemption in the case of sec64 1(A) clubbing of minor's income?

Pls comment?Thanks in advance

I have filed original 26Q with some deductee records without PAN as the same were not available. While preparing the .FUV, I was required to select the rate of TAX as higher as PANs ware not available. Now I got the PANs and want to correct the return. Now problem is that I am unable to change the higher rate flag in the return. I have deducted the tax with normal rate only. Please advice how correction is made. Simply UPDATE PAN will be sufficient ?

The shed value in books after depriciation is
zero say WDV is 0

Shed sold for Rs.11.00 lacs

New Shed is purchased for 13.00 in the same area of MIDC. is it comes under long term capital gain, if yeas what will be tax liability or if no what should be accounting
entries whether books shows shed value 2 lacs

sir my question is that, is there any exemption limit of tds amount on which interest is to be caloculated or not?

in income tax there is a limit of rs 5000. above this amount we have to calculate interest. same as is there any limit is allowed for late deposit of tds.


thanks in advance..

Dear Sir,

I have given donation to a school and have received a receipt against that amount.

The 80G registeration number is mentioned on that receipt but the validity mentioned is upto 31/03/2010.

Now when I went to change the reciept, they said that there is a new circular where in the old registered society or trust are now not required to renew their 80G certificate, and their registeration is valid for life time.

They have not changed the receipt and my auditor is disallowing that donation in tax audit for F.Y.2010-2011

Please suggest what to do, and if any such circular please provide me.

Thanks in advance

Sec 50- Long Term Capital Gain-Short Term Capital Gain

Firm Purchased Premises in A.Y. 1977-78. Claimed Depreciation. Sold it in A.Y.2011-2012
Can I divide the said Asset in Land & Building seperately

As decided by the Bombay High Court :

Commr. Of IT Vs. Citi Bank N.A. dt. 23-04-2003

261 ITR 570 , 134 Taxmann 467

3. Can I substitute Value as on 01-04-1981 for Land for consideration of Long Term Capital Gain and Value as on 01-04-1988 for Building for consideration of Short Term Capital Gain. Being Sec. 50 has given effect

w.e.f. 01-04-1988

4. Any other view or Case Law for above fact.

Thanks

HELL & GOOD MORNING SIR

I WOULD LIKE TO KNOW THAT IF BUSINESS COVER UNDER 44 AD (PRESUMPTIVE BASIS)& HER TAX LIABILITY WAS ABOVE 10,000 DURING LAST F.Y.(2010-11).
IS HE LIABLE FOR PAYMENT OF ADVANCE TAX INSTALLMENT IN FOLLOWING YEAR ?

THANK YOU

My friend is an employee of govt. He gets quarter, but not residing in it and residing in a flat on a rent of its own. Can he claim deduction u/s 80 GG? He does not have its own home at the employement place.

Dear,
My cousin sister is about 28 yrs old. She is about to get married & she wants to transfer money possessed in her bank account to her mother as gift. can she be able to do that? if yes then How without tax implication on her mother for gift? when i discussed same with one of the financial adviser, he was of the opinion that on receipt of gift her mother may be taxed is scrutinized & found unsatisfactory by IT officer. I am deeply confused pls provide me some solution.