A bought a flat a decade ago. Less than three years ago, he gifted it to his two sons in equal shares through a registered gift deed. Stamp duty was paid on the prevailing market value. Now sons want to sell it. What would be the value to compute capital gains tax? The price at which the father had purchased or the market price at the time of gift deed as reflected in the registered gift instrument?

A has two sons & one daughter. He lost his wife long time ago. A transferred his residential house to his sons B&C, by a registered gift deed. Now A has asked B&C to sell the house and distribute the sale proceeds in four equal shares. My questions are: 1. Can B&C receive sale consideration in 4 equal shares? 2. If not, then B&C will pay the above stated shares to A & Daughter. In such a situation, who would pay capital gains tax?

In orde to learn about Taxation in proper way I want to do some certificate or diploma course in Taxation by correspondence or say distant mode can any expert provide information on this

Hi team, I have invested in sbi magnum mid cap fund(G), through sip, and can I show this for income tax slab , for saving tax amount. pl guide me

I am Indian passport holder and a retired bank officer.

I stay at Toronto Canada on visitor visa since March 2016 and shall be reaching Ahmadabad on 16th Jan 2017.

I have 25000 RS currency notes to be exchanged which I shall be carrying with me

Kindly guide me whether I should submit ANNEX I or ANNEX II REFERRED IN RBI LATESTNOTIFICATION OF DEC 2016

I LOOK FORWARD FOR YOUR GUIDANCE

VINOD DHANAK
TORONTO

I have received payment from LIC for a investment policy for which I was paying premium every year. This payment cane in 2015-16.And I am submitted ITR foe this year already but did not declare this income.Is there any way I can amend this now .

as my company is deducting 3600/- from my salary from April 2016 I wanted to know how much amount and also I wanted to know how much TDs is to pay till March my take home salary

A Physiotherapist filed his Original return for AY 2014-15 on 13/03/2016, that is Belated ofcourse, claiming refund of Rs 390/-.
The same was processed by CPC and the intimation U/s 143(1), was sent on 24/08/2016. It was found that the Deduction of Rs 6817/- relating to Savings Bank Interest U/s 80TTA, (Known to the mass that, deduction U/s 80TTA is available up to Rs 10000/- w.e.f. AY 2013-14), was not at all considered in the assessment and additional demand of Rs 450/- was raised in the same. When i was filing the rectification U/s 154 over the Efiling Portal, i could see that it was asking to upload the rectified XML version of the ITR. My confusion is:
1. The return was already filed belated, how can it be revised and XML could be generated?
2. What if i upload the XML of the original return? will the rectification request be suspended?
3. The mistake is not from the taxpayer side, but it is apparent from the assessment/intimation U/s 143(1), what can be done for removing this demand?

Please help to come out of this dilemma.

Hello Experts,
My friend was working with one co for 6 months and after that he shifted to next co. both the co. have deducted tax on salary which can be seen in 26as.WHILE FILLING ITR AFTER FILLING ALL THE DETAILS IT SHOWS TAX PAYABLE.
IS HE REQUIRED TO PAY THE REMAINNING TAX???

Wrong PAN mentioned wile filing the TDS return for FY 2015-16, can I revise it now.
Will it effect the refund of the concerned assessee.
Case:
Instead of 'A' person PAN, 'B' person's PAN is given, revising the return is the only remedy ? or any other option....?
If person 'B' has already filed his ITR and claimed the refund, what 'A' can do to claim his refund ?