Give the procedure to do the e-filing of ITR for previouse assesment years..

Thanking You,

Regards,
Sainath

I sold my house in October 2009 and in November 2009 I invested the entire amount of Rs. 24 lacs in SBI Capital Gains Fixed Deposit for 3 years.

What I wanted to know is regarding the payment time of the tax liability on the amount of Rs 15,00,000 as per the return I filed in 2009-2010. This was calculated based on the purchase price, indexing cost etc.

The question is:

Should I invest in another flat before 2 years and can get possession at a later date?

Should the date of possession be within 2 years of the sale, or is it the date of investing the amount of Rs. 24 lacs? In order to avoid capital gains tax?

Should I continue to keep the amount in capital gains FD of SBI, then when do I pay the tax?

Dear Sir,
Giving below the events in brief:
a) The IT returns of our company was filed within due date (for A.Y.2010-11).

b) Subsequently a revised return was filed on 1-4-2011 (since on 31st march there was problem in the website and the revised xml could not be uploaded in time).

In both cases there was a refund to be received.

But, in the 143(1) received by us last week, there is an error in calculation and the IT returns filed as per Item (a) above has been considered by CPC.

When enquired about the error with IT office, I was told that I could file a rectification request online.

But how do i mention that the revised return will have to be considered.

pls advise
Regards
SA

Is the case law applicable for May'11 is also applicable for Nov'11 ?

(in both paper DT & IDT)

We are partnership firm having 3 partners. One partner is retiring having 5 lacs credit balance in his account. What will be the tax incidence on firm or on partners if we crate goodwill of Rs 10 lacs and pay Rs 15 lacs to outgoing partner

what is wealth tax. today wealth tax is mantadory .what is rules for wealth tax

Dear Friends,

Can anybody guide me whether we can revise Form 15CA already uploaded in the NSDL website as the information was received from the client later.

Himanshu

Hi,

Mr.Prasad estimates his earning as follows. Pls advice on the tax implications

For the year 2011-12

Salaried Income from a UK Company - 23000 Pounds

Tax Paid - 3,105 Pounds
National Insurance - 1,893 Pounds

Salary In India

Rs.36,000 per month.

Assuming he has no other deductions from his income, kindly share the computations of tax and relief thereto :-

1) When he is resident
2) When he is a non residet.

Thank You

Hi, Pls clarify my ques on the foll 2 situations.


1) Indian resident earns salary income in UK(From a UK co).
And tax is also deducted there and there is a DTAA between both the countries. The Resident also earns income here(from an Indian company) and tax gets deducgted here too.

How is relief worked out under Sec 90 and 90A.



2) Assuming he is a non resident, how does the situation differ?

Thank You

Dear Sir........
I have a practical problem of Taxing and accounting OTS (one time settlement) transaction. Plz help me in this regards.

Fact of Case:

Mr A took a loan of40 lac 3 years back. He was paying his EMI regularly. He couldn't pay his EMI for last 6 month so bank has taken OTS route to settle down his existing libilities.

As on 31/03/2011, his balance sheet shows libility towards bank loan is35 lac. As on today he has setteled his case with bank after paying25 lac only.

Questions:

1. How he shall account this things in his book (Accounting point of view only)

2. How to treat differance in income tax. (i.e. whether differance 10 lac is taxable, if yes then under which section, if no then also under which section)

Thanks in advance