My client was a director and shareholder in a pvt ltd company. My client wanted to leave the company because of mis-management of funds and improper working of other director (who is also the managing director). My client resigned from the directorship and also transferred his shares to this director. In return, my client was offered Rs. 20 lacs.

dEAR sIR,
WHERE WOULD THE CREDIT CARD INTEREST AND ANNUAL FEE & OTHER CHARGES LEVIED IN THE CARD BE PLACED IN THE p&L STATEMENT AND ALSO WHETHER THESE indirect expenses debited from P&L
Thanks in advance

Dear Sir,

Can any body tell me regarding interest paid on housing loan is treated as "cost of acquisition" while transfering the capital asset to avoid capital gain

I have not claimed this interest anywhere for deduction under income tax act

Thanks

Shrishail

My query is related to PAN Card.
Following message is displayed when applicant status is checked on NSDL." Applicant's first name/middle name/last name contain initials/special characters".

But a person cannot change his name in order to get PAN Card from the IT dept.

Would request if some one has a remedy for such situation.

Sir
Plz tell me the disallowance rules under TDS.
My client took a loan from a Financila Institution in April 2010. IT continoulsy paid monthly interest for that till march 2011. But it dedcuted TDS on whole of the Interest at the year end 31.03.2011 & remit the same on 10.04.2011.
Please tell me is there any disallownace of expenses ?
According to me,as per 40a, TDS on Intt. upto Feb 2011 should be remiited by 31.03.2011 & of March by due date of Return of income Tax.
Otherwise Exp. is disallowed permanently.
plz tell me if i m correct ?
or there is any ammendment to this ?

Can Any say whether the Leave Encashment is taxable or not for 2010-2011

Our partnership firm carrying business. In our firm in loss before paid remuneration in profit and loss a/c in F.Y. 2010 – 11. Can we give remuneration to partners?

One property in the name of me and my wife (both IT assessee's) and we are paying equal Installments, My query is that the 150000 limit is for one property or per person.

Is there any change in deduction amount if the joint holders are father and son

Regards

Dear Sir/Madam,

If a person who have not filed his return for FY 2008-09, 09-10... wants to file 08-09 & 09-10.....his TDS on salary is properly deducted but not cover interest from saving bank account around Rs. 8000 (not exceed 10000) for both years.
My question is:
1. Whether he can file that returns?
2. is it necessary for a salaried person having interest income from bank, to disclose interest part in the return?

please guide..

Thanks....

Dear All

Good evening

Do an Educational society required for file its return of income with the Dept?

If yes, Which ITR ?

Pls do Reply fast