I have income from salary, loss from house property and loss from profession (Business consultant).

With the information given, can any one guide me, if i can set off loss from house property and loss from profession against income from salary.

Thanks in advance

i have efile my return for ay 2012-13 but still not recvd refund the staus of refund is showing blank itrv has been recvd return staus is showing processed i have call in call centre for refund the phone is always busy is there email i can send to them to know the refund status pl help what to do to get refund

i have efile my return for ay 2012-13 but still not recvd refund the staus of refund is showing blank itrv has been recvd return staus is showing processed i have call in call centre for refund the phone is always busy is there email i can send to them to know the refund status pl help what to do to get refund

Hello Experts,

While paying my self assessment tax online for FY 2012-13(AY 2013-14)of Rs.589/-, I have wrongly selected the AY as 2012-13 in the challan wherease it has to be AY 2013-14. I have to yet file my return for AY 2013-14. How should i rectify the assessment year in the challan

OR

Should I pay again the amount by selecting correct financial year. And if I pay again then what about the refund of previous amount already deposited.

Request you to give the response at the earliest.

Thanks & Regards

I have both short term and long term capital gains from sale of units of Fidelity Equity Fund (during the one month open window period when Fidelity Equity Fund was being taken over/merged with L&T Mutual Fund). Now LTCG should be tax-exempt on the sale of the equity units and the STCG should attract 15%. This is provided Securities Transaction Tax has been paid. Am I correct?

Now, during the open window period, Fidelity re-purchased the equity units without exit load. Fidelity also bore the Security Transaction Tax. Hence, Fidelity bore the Security Transaction Tax and not me. Does my not paying the STT but Fidelity paying the STT, change the situation?

Even if Fidelity paid the STT, LTCG will still be tax exempt and STCG will attract the usual 15% for me. Is this correct? Thanks.

I have recently started a business of Indian handicraft trading. I buy the products from an artisan and sell it to my clients online via facebook.

All the payments are credited to my bank account and all the expenses are paid either via NEFT transfers or via cash.

Recently I have got few international orders as well.

I wish to know what all accounting records will I have to maintain so that at the year end my bank account can be reconciled with my sales and expenses and the profit can be shown in the IT return? Please let me know the supportings also which I will have to attach with the invoices.

Also For the international order, I wish to know that is it compulsory for me to apply for IEC code?

Is there any way by which I can send the products without IEC code because as of now the business has recently started and I am not sure if I will get regular international orders or not, so I feel applying for IEC for two or three orders will result in a lot of paper work for me.

Your expert opinions will help me a lot.

Dear sir,
I have to file my return of income , but Isee a difference in the tax deducted as per AS26 and my form 16.I mean the tax deducted as per form 16 is more.What could be the reason , what do I need to do regarding this? Would it affect my IT return?Please reply soon ,very few days left.

Thank you so much.

Hi Guys i want to know that it is mandatory to write the unique TDS certificate number on the ITR-4 form in case of e-filling of income tax return..one of my client have issued me the form 16A where Unique certificate no. on the top of certificate is not written. and i have cross checked it with form 26AS and the amount mention in the form 16A is matching with form 26AS. so it is still mandatory to write the unique TDS certificate number or not..???

My DDO is not allowing me mess and washing allowance as taxfree allowance. Kindly clarify the position whether these allowances are taxable or not. It is also requested that please solve the query with income tax section or any notification issued by the CBDT in order to satisfy my DDO.

Dear All,

I wanted to ask that, although basic rate of deduction of TDS u/s 94C on individual is 1% but what if I deduct TDS @ 2% on individual contractor u/s 94C.

Will this attract any penalty OR Fine?

Or There will be no problem ?

Will there be any questioning regarding, why i deduct 2% TDS instead of 1%?

Please Reply !