QUERY RESUBMITTED, PLEASE HELP

Respected expert,

My wife , 56, worked with SBI for 29 yrs and took VRS in 2007. We (myself, wife, and our only son) stay at Andheri(w) in a 1 BHK flat which is in my name. We also have a flat in Kandivali(w) in my son’s name and wife’s name (where wife’s name is second as a joint owner).

There is a 1 BHK flat in Baroda in my wife’s name (which was purchased in 1998 and where I stayed between 1998 and 2005 due to my job in Baroda). The purchase amount in 1998 was approximately 3L. The flat is in a society / apartment , which was constructed in either later 80’s or early 90’s. My wife now wants to sell this flat and expected amount is approximately 10 L.

I would like to know the following now.
Once she sells this Baroda flat what is her obligation as far as Income tax / property gains / immediate investment etc. is concerned.

Both me and my son would like to see that she benefits to the maximum since it is her flat and hence her money.

Thanks with warm regards.

Dr. V. R. Kanetkar

Recently one of my relative expired by committing suicide due to financial crisis. He had sold his property and the entire amount was utilised for clearing the debts with private money lenders. His wife is now left with a small amount which is not even 20% of the sale proceeds. Now my question is whether the legal heirs are liable for Capital gain tax. And as there is very little money left is there any facility for an appeal. The wife is housewife and does not have any income. Two children are young and still studying. I shall be grateful if someone could assist me in this regard.

Can I make the e-payment of Income Tax through Bank of Baroda

Good morning ,

I . have bought agricultural land at maharasthra state in 2005. Now i want to sale same land. Will i have to pay any kind of tax on the sale proceed or am i exempted from tax

Please help me on it .

Sir,

TDs payment u/s 194c paid at IOB
by the assessee and challan obtained
from bank

while making payment assessee done
unexcepted mistake due to that
CSI file not able to down load to
file etds 2 qr return.

assesse marked as
"TDS/TCS Regular Assessment (Raised by I.T. Deptt.) (400)"

instead of

TDS/TCS Payable by Taxpayer (200)

now it is not able to down load CSI file
to file 2 qr e tds return

Please give ur valuable advise
to rectify the same.

Thank u
Raamanuja

sir,
I have some refunds due on account of TDS,for which return were duly filed.When i check my tax refund status it says PAN not found.What should i do?


Thanx sir,
I have business income

sir,
1. doctors are appointed as consultancies in hispital,can i deducted professional tax from doctors? and who is responsibility of pay the professional tax in this situaton?
2. doctors have own clinic inadditon consultancy,how much amount paid by doctors and when?
please give me suggestion

Sir,
this is a very urgent issue.
my client has changed the name of company in feb 2008.But in all the returns TDS details contain previous TAN no. instead of new.Though payment was made rightly.A notice has been issued thereof for payment of TDS.Please guide


No, a new TAN NO. was taken as the business was segregated into two.Only TAN no. in return has been wrongly quoted but payment has been made correctly

Whether TDS is to be deducted from remuneration or salary or commission given to partners?
IF yes, under which section?

hi to all
whether the follwing expenses are permissibble deduction while computing the business income of mr x & co. a partnership firm engaged in fertilizer business.
1. interest to partners a, b &c (to each)rs 6,00,000 calculated at 15% simple interest, as provided for in the partership deed. C is a non-resident. the firm has not deducted tax at sourace from there these int. payment.
2.salaries paid to resident employess rs.4,20,000 of this in respect of salary payment of rs. 3,20,000 the required TDS was remitted only on 2-10-2010.
3. on a bulding takrn on lease the firm has incurred exenditure on wooden partition & laying of floor tiles to the tune of rs 3,60,000.