How to compute tax liability in the following scenario

In 2012 Sale of a piece of land with 2 buildings, inherited from deceased father in 2010.

Sale done for land and buildings together.

Father had acquired the land in 1970 as gift.
fair value market price of land in 1981 - Not known
Fair value market price of land in 2000 = A
Fair value market price of land in 2003 = B

1st building constructed in 1976. cost = X
2nd building constructed in 1996. cost = Y

Specific queries -
1. Is it possible to estimate fair value market price for 1981 from the values in 2000 and 2003?

2. Will it be right to calculate the indexed price for year 2012 from the values of 2000 or 2003 in case the value of 1981 is not known?

3. For the total cost of acquisition is it okay to calculate indexed cost of property 2012 as calculated from (2) above plus indexed cost of improvement (Improvement as indexed cost of construction of the two buildings)

4. If the long term capital gain thus calculated comes negative, and this negative amount is more than the income from his annual salary, then can the person claim for a refund for the TDS deducted as per his salary?

I am trying to upload this form but getting the message that "certificate is revoked" though certificate is valid. What to do?
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I m not able to register my TAN in Traces...Following errors occur :

Invalid Details could be because of
i. TAN Not Available in TAN MASTER OR
ii. No 'Processed' electronic TDS / TCS Statement(s) for Financial Year 2009-10 and onwards available with TRACES OR
iii. All the statements filed for Financial Year 2009-10 and onwards are in cancelled state OR
iv. All the statements filed for Financial Year 2009-10 and onwards are NIL Statements (having ALL challans with amount=0)






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what is f& o in stock market

DEAR SIR,
I WANT TO KNOW THAT AN M.P., MLA OR ELECTED MEMBER OF MUNICIPAL CORPORATION MAY BE A DIRECTOR IN A PVT. OR PUBLIC COMPANY.

PLS. GUIDE ME.

THANKING YOU

MLA or State Ministers are in receipt of daily sitting allowance which is exempt. They are also in receipt of traveling, telephone and other allowances, on some head expenses incurred or more and on other expenses incurred are less than the receipts, under the circumstances whether receipt is fully exempt u/s. 10(17) or surplus is taxable under the provision of income Tax Act?
Kindly advice. Thanks.

Respected Sir;
I am an article of second year and my principal has assigned me a work related to audit of credit risk mitigation of a MNC bank. Kindly help me earnestly to know what to do regarding this assignment
regards.

Whether pension received by widow from Employees Provident Fund Organization under EPS - 95 scheme is excluded under any sect. of Indian Income Tax Act?
Or will be taxed as receipt of family pension.

2) Arrears of salary received after death of husband after a year of death pertaining to life period of deceased husband will be taxable in hands of widow? Husband was expired during FY 11-12, and salary is received during FY 12-13.
Kindly highlight with specific provision.

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