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Anonymous
06 July 2011 at 17:56

rectification u\s 154

can I rectify the cpc order more than one time?

I have recd order u\s 143(1) and the same order I have rectified. but it is rejected. so can i once again rectified the order? please answer me as soon as possible. ]
thanks to all in advance

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Anonymous
06 July 2011 at 12:11

AGRICULTURE INCOME

SIR,
I WANT TO KNOW THAT RENT RECEIVED FROM LAND USED FOR GAZING OF CATTLE REQUIRED FOR AGRICULTURAL ACTIVITIES IS WHY AGRICULTURE INCOME.
IF I GIVE SOME LAND ON RENT FOR AGRICULTURE PURPOSE IT IS EXEMPT FOR THE TENANT TO WHOM I HAVE GIVEN THE LAND ON RENT.
I AM NOT DOING ANY AGRICULTURE ACTIVITY.
I AM EARNING THE RENT INCOME.

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Anonymous
06 July 2011 at 11:45

Calculation of Deduction U/s 80G

Hi,

My GTI (excluding capital Gains) is Rs. 6,55,564 and STGC is Rs. 1,572. Thus Total Income is Rs. 6,57,136. I gave a donation to a charitable trust for Rs. 1,25,000.I have invested 1,20,000 for deduction u/s 80C and 80CCF.
As per my Calulation, Deduction u/s 80G should be as below:-
Adjusted GTI = 10% of (657136-120000) = 53714
50% of Donation = 62500
so least of the above,i.e., i should be able to claim Rs. 53714.

When i am trying to fill ITR2 for efiling i get the following calculation
Adjusted GTI =10% of (655564-120000) = 53556
Amount eligible for claim u/s 80G = 50% of Adjusted GTI = 50% of 53556 = 26778

This amount is automatically coming in the return so please confirm which calculation is correct and how to file the return if my may is correct.

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Anonymous

DEAR SIR,
A Bank has wrongly deducted Tax in AY2010-11 on Interest(which was fully TAX exempt) earned on FDRs being maintained with them for General Provident Fund IN R/O teachers of Govt. aided school -the GPF subscription qualified for deduction u/s80C.
Is there some remedy available to bank for obtaining refund from INCOME TAX DEPTT./or reversing the debited amt. for wrong tax deduction? or teachers would have to claim from ITAX Deptt.If so, under what section wud be said intt. shown in ITR.
SINCE LAST DATE FOR FILING ITR IS FAST APPROACHING ,WOULD BE GRATEFUL FOR EARLY REPLY.

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CA Ysil Karunai
04 July 2011 at 19:47

Promotors contribution

Dear Sir,
please Clarify, Where to disclose the Promotors Contribution as per Schedule VI. Suppose, if the Promotor brings the money through cash, whether 269SS will be applicable as per Income tax Act 1961.

Thank you

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madhur gupta
04 July 2011 at 18:27

Bank Account is mandatory???

Hello Friendzz
While filing Income Tax Returns for A.Y.2011-12 i.e. F.Y.2010-11,
Is bank account is mandatory to provide even return is of nil only(No refund case)
As software which are using doesnt process the return without providing bank account no.
If it is so how return will be filed of person who do not have bank account but want to file return(say having very less income in and that too in cash only like tuition income)
Can his/her family member bank account be usd for this??????????//
Thx

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Devendra
03 July 2011 at 21:55

ITR Filing

Insurance commission earned Rs. 350000 TDS is deducted u/s 194D. No expenses are claimed. Can I file ITR-4S in such a situation?

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Anonymous
03 July 2011 at 15:27

dissolution of partnership firm

sir i want to know which accounts to be presented in the tax audit report in case of dissolution of firm. whether realisation account and cash account is to be presented ? since there are no balances in balance sheet how to present balance sheet as on the date of dissolution ? whether nil balance sheet to be presented ?

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ALPA Sukhia
02 July 2011 at 09:52

interest 234 B

Dear all,

Please help me in calculating interest U/s.234B for AY 2009-10 for Companies if Tax on income (after surcharge and educ cess) is 7,08,81,137/- TDS Paid 42,80,990/- no advance tax paid and self assessment tax paid in march 2010 65295969/-. Intimation U/s.143(1) 15-6-2010. Kindly reply immediately it is urgent

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Anonymous
01 July 2011 at 00:01

Gift from Relative of Karta to HUF

Does Gift Received from Grandmother or any other Relative as per definition of Sec. 56 of Karta of HUF is taxable to HUF. If not Please suugest me why. IF there is any case laws favouring it, Please suggest the name of that.

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