In the Budget 2013 Speech, The Finance Minister had said, “Nevertheless, I am inclined to give some relief to the tax payers in the first bracket of Rs. 2 Lakh to Rs. 5 Lakh. Assuming an inflation rate of 10% and a notional rise in the threshold exemption from Rs. 2,00,000/- to Rs. 2,20,000/- I propose to provide a tax credit of Rs. 2,000/- to every person who has a total income upto Rs. 5 Lakh. 1.8 crore tax payers are expected to benefit to the value of Rs. 3,600 crore.” - See more at: http://www.simpletaxindia.net/2013/03/new-income-tax-rebate-rs-2000-section.html#sthash.7qdAESNM.dpuf

Dear Experts,

I want to know the accounting for F & O trading and treatment in income tax act.



Thanks,

Hello,

I want to know the rate of depreciation on computers used in business of cyber cafe.

Will it be charged @60% or @15%(as normal machinery of business)

Thank you

I have PAN No. of assessee but i want to verify his name and date of birth. Is there any website through which i can find PAN details with the help of PAN No.

Plz suggest

I filled nil income tax return for AY 2012-13 through Software. By mistakely Date of verification in ITR-V (below sign box) is entered as 07/05/2014.. instead of 03 i entered 05.. now what to do.. is it serious??? date of filling is 07/03/2014 ans date of verification is 07/05/2014. plz Help..

I am currently working in ICICI Bank for the past six years will this experience can help me to waive off Articleship please confirm as i want to pursue CA course

Can u send me the board resolution for remuneration to director

sir,
I am prasad doing my Apprenticeship and earning Stipend of Rs 2000/- per month. And Have a small Investment which i am getting Income by deducting TDS.as my income is Very less. in order to claim the TDS i have to file ITR-1. whether i have to show my Income of stipend in ITR ? if yes under what Head it comes?

Dear Expert


An employee has purchased a house but he will get his possession letter in the month of Mar'14(somewhere in 6-7 days from now) .

His Registration of house is still not done and he has not got the keys for the house. He will be getting the actual keys after registration before 7th April'14.

Can benefit of housing loan extended to the employee in this particular FY 2013-14 ? ?

Hi All!
We, being in the business of contruction, have received a notice from income Tax Intelligence dept. which directs us to give all details of those parties who have been given a contract of labour/materials amounting to more than 10 Lacs by us. It contains several fileds like name of the party, payment mode, tansaction amount, Transaction Referance Number (max. 10 characters)
Can someone please explain what is Transaction Referance number?