Premlata Jain
07 July 2011 at 16:59

Leave encashment

Dear Sir /Madam,
Is there any law for leave encashment after resignation by the employee?
Can employee leaving organisation claim full leave credit available at the time of leaving?
If answer, whether yes / no.
Pl quote section no and Act, if possible...
Thanks & Regards

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Anonymous

Hi,
My father has sold a land for Rs.53,00,000 and put the whole amount in another property (to be obtained in 3 years) and Capital Gains accounts as per section 54F. He shall be claiming exemption u/s 54F. All the above details shall be duly filled in the ITR2 while filing the IT return.

Do he have to file AIR also and if yes what is the procedure for it.

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Anonymous
06 July 2011 at 17:56

rectification u\s 154

can I rectify the cpc order more than one time?

I have recd order u\s 143(1) and the same order I have rectified. but it is rejected. so can i once again rectified the order? please answer me as soon as possible. ]
thanks to all in advance

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Anonymous
06 July 2011 at 12:11

AGRICULTURE INCOME

SIR,
I WANT TO KNOW THAT RENT RECEIVED FROM LAND USED FOR GAZING OF CATTLE REQUIRED FOR AGRICULTURAL ACTIVITIES IS WHY AGRICULTURE INCOME.
IF I GIVE SOME LAND ON RENT FOR AGRICULTURE PURPOSE IT IS EXEMPT FOR THE TENANT TO WHOM I HAVE GIVEN THE LAND ON RENT.
I AM NOT DOING ANY AGRICULTURE ACTIVITY.
I AM EARNING THE RENT INCOME.

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Anonymous
06 July 2011 at 11:45

Calculation of Deduction U/s 80G

Hi,

My GTI (excluding capital Gains) is Rs. 6,55,564 and STGC is Rs. 1,572. Thus Total Income is Rs. 6,57,136. I gave a donation to a charitable trust for Rs. 1,25,000.I have invested 1,20,000 for deduction u/s 80C and 80CCF.
As per my Calulation, Deduction u/s 80G should be as below:-
Adjusted GTI = 10% of (657136-120000) = 53714
50% of Donation = 62500
so least of the above,i.e., i should be able to claim Rs. 53714.

When i am trying to fill ITR2 for efiling i get the following calculation
Adjusted GTI =10% of (655564-120000) = 53556
Amount eligible for claim u/s 80G = 50% of Adjusted GTI = 50% of 53556 = 26778

This amount is automatically coming in the return so please confirm which calculation is correct and how to file the return if my may is correct.

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vijaykumar
05 July 2011 at 17:51

revised return

sir,one of my client is come and its head office and branch office are service providers. the head office collect and remitte to service tax to the department in time but branch office is not idea about service tax in the mean time , the head office tells that to the branch office what about the servie tax then the branch paid service tax with interest on the month of feb,2011 for 1 st 9 months(apr to dec)in the name of head office account. i suggested that to the head office to revise both the revised returns i.e. oct - 25 and apr 25 . this is correct or not , if not plz suggest me correct answer. the branch pays service tax with interest to the department lately

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Anonymous

DEAR SIR,
A Bank has wrongly deducted Tax in AY2010-11 on Interest(which was fully TAX exempt) earned on FDRs being maintained with them for General Provident Fund IN R/O teachers of Govt. aided school -the GPF subscription qualified for deduction u/s80C.
Is there some remedy available to bank for obtaining refund from INCOME TAX DEPTT./or reversing the debited amt. for wrong tax deduction? or teachers would have to claim from ITAX Deptt.If so, under what section wud be said intt. shown in ITR.
SINCE LAST DATE FOR FILING ITR IS FAST APPROACHING ,WOULD BE GRATEFUL FOR EARLY REPLY.

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CA Ysil Karunai
04 July 2011 at 19:47

Promotors contribution

Dear Sir,
please Clarify, Where to disclose the Promotors Contribution as per Schedule VI. Suppose, if the Promotor brings the money through cash, whether 269SS will be applicable as per Income tax Act 1961.

Thank you

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madhur gupta
04 July 2011 at 18:27

Bank Account is mandatory???

Hello Friendzz
While filing Income Tax Returns for A.Y.2011-12 i.e. F.Y.2010-11,
Is bank account is mandatory to provide even return is of nil only(No refund case)
As software which are using doesnt process the return without providing bank account no.
If it is so how return will be filed of person who do not have bank account but want to file return(say having very less income in and that too in cash only like tuition income)
Can his/her family member bank account be usd for this??????????//
Thx

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Devendra
03 July 2011 at 21:55

ITR Filing

Insurance commission earned Rs. 350000 TDS is deducted u/s 194D. No expenses are claimed. Can I file ITR-4S in such a situation?

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