can a individual claim Rs. 15000 for self and also Rs. 20000 for senior citizen parents aggregating to Rs. 35000?

Mr Mukherjee sells a resdential house property of a long term capital gain of Rs1,50,000. He invest Rs 1,00,000. within three years in construction of the first floor and barsati(to be used residence)to another house owned by him since 1949.is Rs 100,000. exempt from tax under Section 54.
Pls clarify regarding this.
Thanks
GIRISH

please guide me while calculating book profit under section 115JB, is exemption amount under section 80-IC deductable from net profit?

Dear Sir/Madam,

I want to know how calculate lic, house rent calculation % wise / how?

our company staff claim to us lic and house rent for there income deduction (exp.one employee yearly income from company 175272/- and he show the his yearly lic policy 11,000/- rent show monthly 3000/- mediclaim his personal yearly 3000/-) now how was the amount deduct from his salary monthly.


please given me the details , I am confused about income tax calculate with employee shows there investment? how calculate there incometax deduct amount.


thanks ,

We are deducting tax under wct from our contractor what next ?




Pankaj

what is the taxability in the case where the parents are died in the year and there is only a minor survived?
in the case R P Sarathy vs CIT (2006, 5 SOT 732, Chennai), it was held that the minor's income in case where both the parents are not alive can not be assessed in the hands of grand parents or any other relative or even in the Hand of Minor.
Based on the above case, Who will be liable to file the return and for the tax liability on the income arise and accrued from the property of died parents?

Dear Friends....

a private limited company is reimburshing the transport expenses of employess (from residence to office )

is it taxable in the hands employess

as Transport allowance is 800 P.M from I.T

and they are reimburshing more than 3000 Rs. P.M (except Transport Allowance)

IN A COMPANY TOTAL EMPLOYEES ARE 25. 15 EMPLOYEES ARE GETTING BASIC WAGES MORE THAN 15000/-.

COMPANY WILL BE COVERED UNDER ESI?

An NGO is not liable to Income Tax provided it complies under the terms of section 11, 12, 12A, 12AA and 13.

However, is it anyway oblized to follow the intent of section 40A and Rule 6DD.

Dear Friends N Respected Seniors.,
From the following data,furnished by Mr Rajesh,determine the value of the house property built upon a freehold land in 1985 in Delhi.

1)Munncipal Value for the previous year 2005-06 2,00,000.
2)Rental Value 4,00,000.
3)Municipal Tax Outstanding 25,000.
4)Cost of the House property 30,00,000.
5)Aggregate Area 1000sq.yds.
6)Minimum area to be left open 75%of Agg.Value
7)Built-up-area 15%of Agg.Area

Pls clarify anyone regarding this.
Advance Thanks.

GIRISH