I have purchased a Jeevan Akshay Plan VI from LIC by paying a single premium of Rs. 1,58,000/-. From Which I will get an annual annuity of Rs. 10,800/- each year from next year. Whether Single Premium of Rs.158000/- is allowable as deduction U/S.80C for AY 2017-18. Whether annual annuity of Rs.10,800/- will be taxable ?

Income from selling of homemade meals at a very small scale (and is not a business),chargeable under which head of income, under income tax act ?

I am dealing in sale of sim card and recharges vouchers of various companies to my customers. My gross profit on sale is 2 to 3%, but my turnover crosses Rs. 1.00 crores in a year. Whether I will have to declare my income U/s. 44AD @ 8% on sales, if I do not maintain any accounts.? Please guide me accordingly .

My Client's husband passed away but she did not receive any pension for next 33 months. Then she was given pension in lump sum for 33 months. How can I calculate tax on it. Also, is there any relief which can be claimed as it does not contain any arrears relating to pay commission?

I had filed my ITR 4S for AY 2016-17 showing income from legal profession Rs. 4,22,400/- (Out of total turn over of Rs. 7,68,000/-). Now I have received a notice u/s 139(9) stating the ITR as defective and instructed me to file revised return. What should I do now ? I did not undeestand.

Sir.
I have filled itr online but sent ITRV after 120days to CPC Bengaluru, Now status of ITR is ITRV filled after due date what i have to do for same
Thank you

One of my clients have purchased from me machineries on different dates billed for Rs. 1.50 lac, 1.25 lac & Rs. 1.7 lac. He paid me cash rs. 1.50 lac, 1.25 lac & 1.7 lac on different dates. Whether the said cash receipts are liable to be penalised U/S.269ST

We as biological parents have transfereed the title of our flat (Purchased at Rs45 lakhs in 2009) in the name of our daughter in Dec 2012 through a registered deed of settlement She had in turn given us the General Power of Attorney to do several things on the flat including renting it and even selling it on her behalf The GPA was also registered duly Our daughter was an NRI since 2002 and settled in the USA with her husband and not employed in US too. She has a PAN but not returning any tax return being unemployed while in India before marriage and also in the USA after marriage The rental income since 2014 is hardly Rs11000 PM and as PoA holder I receive this in the joint account.She has become a US citizen in April 2016. Her Indian Passport has become invalid post her renouncing Indian Citizenship She wants to dispose this property now. Whether we the GPA holder sell the flat on behalf of our daughter and after paying LTCG tax of Rs3 lakhs (10% of Rs30 lakhs CG Rs75 lakhs less Rs45 lakhs being the cost incurred by us) using her PAN ,whether we /she can repatriate the balance proceeds to her US Bank account? Is the LTCG is Rs30 lakhs or is it Rs75 lakhs? ( being settled free in our daughter's favour without any consideration)

Hi,
TDS certificate (from TRACES) is made available only once final? Or is updated as and when TDS collected is deposited?

TDS pertaining to PY, deposited in some future year will be updated in TDS Certificate of the PY itself? Can we take refund of such TDS? How?

Hi ,

Recently I brought an under construction apartment. The contruction is supposed to complete in Dec 2017 which is when the registration will happen.
I also came to know about the TDS needs to be paid for property > 50 L and mine qualifies for the same.
I had paid my previous installments ( bank to builder) without deducting the TDS ( 1%) . In this regard, will it suffice if I deduct the entire TDS at the time of the registration? Please help

Regards,
Edsel