Suppose Altd. has taken loan from director of say Rs. 10lakhs on 1/4/2012 @ 9% P.A. It has made various payments to directrs on various dates, say Rs. 150000/- on 14/06/2012, Rs. 43000/- on 02/08/2012, Rs. 190000/- on say 15/12/2012. A ltd. has further taken loan of Rs. 5lakhs on say 15/01/2013. How to calculate Interest on loan as on 31/03/2013????

WHILE CALCULATING THE COST OF A PRODUCT (IN A MANUFACTURING COMPANY) THE INSURANCE PAID DURING THE MONTH SHOULD BE BIFURCATED OR THE WHOLE AMOUNT TO BE TAKEN .

Hai experts.....
this is Srinivas ,i have a small doubt regarding capital gain exemption under section 54F.
i.e If Assessee who have sold commercial house property for 2 crores, Has purchase residential house property of value 1.2 crores in the name of his Son,
Is he eligible to claim any exemption Under section 54F

sir today i had filed return for f.y 2012-13 but i did mistake in return.i did not mention self assesmenet detail.
i read the above section according to the section belated return can never be revised
but i filed the revise return today they accept my return on website ?
please clarify

assessee who sold his commercial house property for 90 lac's,and he deposited 10 lac's in Fixed deposit with in due date of return filling, is this FD can be claimed
as exemption by him.
I know that amount deposited in CGAS is available as exemption,
Is there any chance to claim FD as exemption.

Hai...........
If assessee purchase new house property in the name of his son, is 54F exemption available to him .

one of my client is a non-resident, i have to file his return for a.y 12-13, he has earned foreign salary from dubai rs.309000/-, and indian income 47000/-...and lic rs.10000/-
now my query is how to show foreign salary in (it is exempt) ITR - 2?
can i take deduction of lic ?

ONE OF MY CLIENT HAS SOLD AGRI LAND (PURE NON CAPITAL ASSET) TO PVT. LTD. CO.
AS ONE OF THE CONDITION OF SALE SELLER HAS TO MAKE LAND NON AGRI BEFORE THE SALE DEED IS EXECUTED.
NOW MY Q IS : IS THIS AGRI LAND IS CAPTIAL ASSETS AND GAIN IS TAXABLE UNDER THE INCOEM TAX ACT.

Dear Experts,

I am in Confusion , how to calculate month for cal calculating penal interest u/s 201 of IT Act . please consider the following .......

Suppose date of deduction of TDS is 15 April and payment date is
Case (1) 10 May
Case(2) 20 May
Now how many no of months interest shall be charged ?

Dear Sir,

I received more than 15000 thousands medical allowance and submit the bill of my HR but they are saing that on your salary slip "Medical Allowance" is mentioned instead of Medical Reimbursement so this is taxable income whether you are submitting the bill or not ,please advise.
Thanks,
Ashutosh Sharma