hi...an individual is drawing an salary income of 10,00,000 a year,he claims 80C deductions(i.e tuition fee and life insurance premium)..he owns two HP out of which one is self occupied property for which he pays EMI of RS.120000/year(principal portion RS.60000)and another is a let out property for which he pays EMI of RS.348000/Year (approx)(principal portion RS.70000)..my query is
1.for the let property can he claim the full amount of interest paid by him for the same property without any limit

2.can he claim municipal tax paid by him for both the properties

3.and 30% flat deduction u/s24 for let out property.

4.can he claim only RS.30000(interest for the self occupied property)as deduction u/s 24 for self occupied property??

5.he also claims 80C deduction for tuition fee of RS.70000,insurance premium of RS.35000 and principal repayment of housing loan but it is subject to a limit of RS.100000, can he claim this as a deduction under some other section of income tax act.
thanks for all....

Dear Sir,

I am living in chitradurga, it is not small district., I have completed the B.A., exam, after this I joined in C.A. office, I am working in Two C.A. Offices, since from 10 years, and handling some Auditor Offices also, and I have get M.Com., from KSOU University through PPT Exam, ( This exam for non commerce student ) so plz guide me can I join ICWA Course or CA Course,

We have filed original return u/s 139(4)(belated return). Afterwards we have received notice u/s 153A and we also provided the reply for the same. Now we have find a mistake in return. So we have to revise the return but due date is expired. So suggest us what to do?

hi Sir,
for assessment year 13-14 my ITR was fully processed and i received my refund also. in the month of feb i received intimation under sec143(1)....but today while browsing my income tax department account mistakenly i put the request for intimation....so please guide me what i have to do and what action will take by it department....is their any problem?

Sir please any one can tell me that i have an educational society Whose profit is RS.1500000 & total expenses are 2000000 & income is 4500000. I have to file its itr.
1. Under which section i have to write its audit report.
2. under which head i have to put its income.
3. how to file it

Hi, here goes a little introduction about my Business. I work as a Self-Employed software developer from my Home. All of my clients are from other countries. In every months I earn near about Rs.4 Lakh. And in the end of this financial year the Total Receipt value will be Rs.32 - 34 Lakh. And I don't have much expenses in Real. I use 2 savings account to receive all my service payments. I don't charge any taxes to clients. There is no Invoice/Voucher/Bills that I take or give in these transaction.

So, here my questions are:
1. Minimum how much amount of money I have to pay as Income Tax? (An approx. value)
2. What expenses can I show as my Business expenses? I need some idea of some appropriate expenses.
3. Which other things will help me for more Deduction? Please mention under which section.
4. Which form should I Fill: ITR4 or ITR4-S?

My Chapter Office has told me to send a handwritten application letter which will go alongwith FORM-109 to seek permission for Industrial Training.
So what will be the content of this letter.?

Hello Friends,

when assessee pay professional fee of Rs. 5500/- in cash .

Than TDS is Applicable or not ?

But the profeesional fee to whom it is paid is not registered in Service Tax.

( Assesse has already paid more than 30000/- professional fee through cheque in same financial year.)

Thank You in Advance.

Our company is paying 5 lacs for rental space for participating in exhibition ouside india to a foreign company tds to be applicable, if so at what rate & under which section

Please let us know whether the Depreciation under Section 123 of the new Companies Act 2013 is coming into force for this current Financial year 2013-2014?