Assessee lives in a rented premises for only 6 months during the FY
HRA received - 12900 for 10 months (due to leave taken without pay during the year)
rent paid - 6000 for 6 months
basic salary - 25000 for 10 months....

HRA exemption: lowest of
1. 40% of (25000*10)
2. 12900*10
3. (6000*6)-(10% of (25000*10))

or

1. 40% of (25000*10)
2. 12900*10
3. (6000*6)-(10% of (25000*6))


In first case exemption comes to Rs. 11000 and in second case it comes to Rs. 21000.

A shareholder of private limited company gave loan to the company in which he is shareholer, and after few months he transfered his shares, what are the consequences under section 58A ?

Hi friends

My Organization taken loan from one financial institution by hypothetical loan on motor car.

The loan for 36 equal annual installments
loan statement indicates both principle and interest clearly.
1st installment also paid immediately.

journal entries for
loan taken
1st installment paid
and every monthly installment paid regularly.

please give me Journal entries .

Mr.A is resident of India.He went abroad in FY 12-13 for employment purpose,and was there for more than 182 days.
So for FY 12-13,what is residential status of Mr.A?

We have by mistake while paying TDS challan mentioned A Y 2014-15 instead of A Y 2013-14.
Can this mistake be rectified ?

In 26AS in refund paid column, mode of payment written goverment, what is the meaning of this. whether its outstanding demand adjusted in front of refund.

give on urgent basis. if we require detail of this adjustment, than how come to know

1)Is there any necessity to give any application to Assessing officer for claiming releif under section 89.

2) Also, if the assessee had not been filing the Income Tax return for the past 5 assessment years .i.e. for the years for which the arrears were received, since the tax liablity was NIL, can there be any deniability of releif under section 89?

Please reply.

is service tax paid to interior designers & contractors for designing office and making furniture claimable as cenvat credit. pls reply urgent

A company hasn't commenced its operations and hence no P/L A/c is made. Meanwhile, its incurring expenses like bank charges, audit fee etc. hall these expenses be shown in the return of income for income tax purpose as business loss?? If yes, can these losses be carried forward?

if i fall in category of exempt income more than 5000/- Rs..which return form should i submit to tax department..!!!