Hello friends,

Our client obtained a flat under scheme of allotment,Possession of which is to be given after some time.Our client paid amount of Rs 5700000 against such allotment.Such disbursement of Rs 5700000 is made by obtaining a loan from bank.Now my query is that whether our client is eligible for deduction u/s80C against the principal amount repaid during the year against such loan.I have a doubt because our client does not have any possession right now i.e. he has only the right in property as only allotment is made to our client.So please consider the same & reply me as soon as possible,as i have to file the return for the same.

I have received a notice from income tax to send my bank account statements. However, it does not specify if i need to send only the bank statements for the accounts where i am the first account holder (tax accrued on me) OR all the bank accounts where i have a signing authority (tax did not accrue in my name).
Do i have a choice to send only the ones where i am the first account holder? Please guide.

Is the money held in the NRE account treated as foreign exchange ?
And will the Bank FDs bought from the money in NRE account be treated as specified asset for the purpose of Section 115E ?

You may reply to this on iqbalsrcc@gmail.com..

Regards
Iqbal

I had invested some pocket money in company fixed deposit . At the time of redemption, even after submitting form 15G , TDS got deducted by the company.

As my annual income is not huge, so filing IT return is not compulsory for me.

Can I hold those TDS certificates until I become CA myself or is there any time limit to claim REFUND ?

Just like a cheque expires after six months from writing it , is there any expiry date for TDS certificates ?

Dear all,
One of my friend is vacating a prime property which is on reant to some other person and getting Rs 35 lakhs as charges for vacting. Under which head this amount will be taxable

Please advice

Friends,

One of my friends is work with private Limited company and his net taxable income is 2,65,000/- (Tax due Rs. 6695) for the Asstt. Year 2011-12 and I also have taken free interest loan for Rs, 55,000/- in April 2010 from the company and paid installment Rs. 1,000/- per month. Is any income tax payable on tax free interest loan Rs. 55,000/-, if yes, how much amount payable. If yes, how much amount. & when loan below with amount 25000/- when also interest calculate or not.

fixed monthly Amenities(Repair & Maint. Charges) paid to owner of the house property, whether these expenses are liable of TDS deduction u/s 194I?

NOTE : Please read all question as interlinked.


1. Can we issue the New TDS certificates with Correct PAN deatils without revising TDS returns ?

2. Does we need to revise the return suo-moto without being asked by IT department but instead being requested by our vendors who are being denied the credit by IT department due to wrong PAN details put in by us.

Is there any remedy available for vendors without asking us to revise the TDS return ?

3. How can we revise the TDS return for revious years only for correction of PAN details. HAs it to be revised Quaterly ? Can it be revised only for the details need to be corrected ? or suggest any other convinient procedure for revising it ?

Sir what is remand report issued by Income Tax Dept. and when it is issued and what are the reasons for issuing remand report ?

SIR jai shree krishan
i have CREATED A TRUST 7 YEAR BACK AND SINCE INCEPTION Trust has RECEIVED CORPUS DONATION FROM CHATITABLE TRUST REGISTRED U/S 12A APPR Rs. 18 LACS TILL THE F. Y. 2009.10. AND Trust APPLIED FOR REGISTRATION U/S 12A ON AUGUST 2010, and get registered u/s 12A wef 01.04.10 NOW A.O WANT TO TAXES Rs. 18 LACS AS INCOME. PLEASE TELL ME WHAT IS THE TRAETEMENT Of THIS. can Ao is right is his action and what is the remidy