Section 80-C permits the deduction for the payment of the amount (including the repayment of the principal component in the Housing loan from the specified persons) towards the purchase/construction of the House property.
The query is whether this deduction for the repayment towards the principal amount is available even if the possession of the property is not obtained during the Previous year?
Unlike for the deduction of the interest on the housing loan u/s 24 of the Income Tax Act which allows deduction in two parts (pre-construction and post construction) means the date of possession is relevant.

Thanks.

Hemendra

For calculating FBT,Use of telephone (including mobile phone) other than expenditure on leased telephone lines comes under tax net

Does it mean that wired telephone connections taken from for e.g.BSNL,Tata Indicom do not come under the tax net ..i.e. Telephone exp. incurred on these connections

Plz elaborate

Is it compulsory to file all 4 Quarter (24Q )returns for financial year 07-08 to issue form 16 to employees for the period 01.04.2007 to 31.03.2008.

sir w.e.f. 1/4/08 it is mendatory for company assessee and the assessee covered u/s 44ab to pay tax through e-payment mode, now my confusion is that, if by mmistake we had already paid the tax manually and not through e-payment mode than what will be the procedure to be followed by me in this situation. waiting for your early reply.
thanking you

Hi all,

A salaried individual having House Building Advance(HBA)wants to file IT retrun. Which return form he will choose? ITR1 or ITR2? Can any one tell me the basic difference between Return Form ITR1 and ITR2.

Please reply.

dear sirs,
i want to know whether FBT will applicable to the expenditures which are capitalised during the year. i mean like Staff welfare ,if the head is capitalised weather for the expenses FBT will be applicable.
Sujit

Please provide me with the website link where I can key in the PAN number alloted and confirm the name of the person to whom the PAN card is alloted.

can a huf be formed in the name of minor whereby the gurdian can sign as karta

If a House property is available for letting out for 10 months then shall the expected reasonable rent be reduced proportionately to compare with the actual rent received or receivable to arrive at Gross Annual Value?

A person applied for PAN card in Bangalore through a intermediary - Shell Technologies after paying Rs.60 for processing and submitting duly filled Form 49A.


He was issued the PAN card through a private courier from Mumbai office. The PAN card issued was returned to Mumbai office with the explanation - addressee not found- eventhough the address given was correct and the person was present at the given address.


The intermediary - Shell technologies - to whom the original application was submitted are suggesting the person to fill the new form (This form is meant for - Request for New PAN card or / And Changes Or Correction in PAN Data )and submit it to them with processing fee of Rs.60.They are able to give the PAN number of the assassee.


The person has been informed that the Mumbai office receives lots of applications per day and expecting a response from them either by e-mail or post is not practical.


1) Is submitting the form suggested by intermediary the right thing to do in this situation considering the fact that heading of the form given does not say that the form is meant for re-sending of the PAN Card already sent ?


2) If the answer to the above is yes, why should the person be made to pay Rs.60 again for no fault of his?


3)If the answer to (1) is no, what else can be done?


I request the members to kindly answer POINT WISE.

Thanks