Dear All,
If any employee claiming HRA and submitting rent receipt for whole year and if he also puchased home and claiming EMI and PEMI along with stamp duty and regsisteration fees (80C) for the same financial year... My query is this OK and what document we should ask to submit for calculation of Income Tax of the financial year?
Thanks
Subodh

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Thanks

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I saw a Query by Mr Satyen Sharma and its reply by expert Mr Jitender.
What I feel is that basic theme of the Query is unanswered. Obviously, Mr Satyen is under notion that Investments in ELSS U/S. 80C are taxable on maturity and it is this notion which gave rise to the Query. Reply by the Expert does not indicate that this notion is wrong, and hence, the entiry expert's relply is fruitless.
THIS TYPE OF SUPERFLUOUS REPLIES ARE FREQUENT AND INCREASE THE CONFUSION OF THE SEEKERS.
I HUMBLY REQUEST TO THE EXPERTS TO KINDLY GIVE APPROPRIATE REPLY TO THE QUERY POSTED. MEMBERS SEEK HELP AND GUIDANCE FROM EXPERTS - NOT JUDGEMENTS.

RESPECTED SIR/MADAM
I AM STUDENT OF CA (FINAL) AND DOING MY ARTICLESHIP.I WANT TO DO COMPANY SECRETARYSHIP COURSE FROM ICSI.I WANT TO KNOW WHETHER I SHOULD TAKE THE PERMISSION BY WAY OF FORM NO-112 BEFORE JOIN THE COURSE OR CAN I FIRST JOIN THE COURSE THEN TAKE PERMISSION IN APPROPRIATE MANNER.PLEASE RESPONSE AS SOON AS POSSIBLE
THANKING YOU
YOURS FAITHFULLY
SHAYAK DAS

Dear All
My query related to investments u/s 80C wherein funds are locked for a 3 yrs period. If for instance I invest in an ELSS Mutual Fund, I get units allotted in my name. After a 3 yr lock in period, it is taxable, if redeemed.
My question is that whether MF is considered as security under the Securities Contract regulation Act, if yes, then it would be a long-term capital gain on securities, which would not be taxable.
Then why is the whole amount subject to tax wherein the principal amount is also involved along with appreciation
Pl. suggest.
C.A.Satyen Sharma