suppose mr.P hold a residential house property in year 1961-62.he transfer his house property to his sons a & b then, they registered the house in their name.now a & B sell their property in the year 2012-13. share of A is 65 lakh

Now Mr.A wants to purchase a house property in the name of his wife with his name(Jointly)at rs 25 lakh and second property his name rs 40 lakh.

My question is can he claim the exemption for house property u/s 54

where any re-assessment done is contrary to self assessment done by the importer or exporter regarding valuation of goods,classification ,exemption or concessions of duty availed consequent to any notification issued thereof under this act and in cases other than those where importer or exporteer,as the case may b ,confirms his acceptance of the said re assessment in writting",the proper officer shall pass a speaking order on the reassessment,spesking order is to b passes within 15 days from the date of re assessment of the bill of entry or the shipping bill,as the case may b."



what is speaking order?

My client has in Asst Yr 11-12 :
-Business Income
-Turnover less than 60 lakhs

However if 8 % net profit is taken as per section 44 AD still it remains below taxable limit.

My Question :
1. Is 44 AD applicable in such a case.???
2. And in that case which ITR should should be filed- ITR 4 or ITR 4S ?????

Thanks in advance

A person has not filled returns since 10 years but now he wants to file but does not have any details of last filled return.
In this what should be the opening capital to be taken?

Dear sir, I am a salaried person (Bank employee). I have a question. My tax liability was rs.31470 for a.y-2012-13.Tds deducted rs.31000.Rest of the amount(rs.470)paid by my employer on 28th aug.2012.Payment was made by paper I mean through ITNS 281 challan not online.Now I want to E-file my return.In ITR1 where and how I will show the details of amount paid(31470-31000)=Rs.470 through challan?

Regional rural banks are Govt. or PSU?

Thanks!!!!

What is the use of point of taxation after introduction of sec.67A?

I am a govt employee and drawing 216000 pa. my employers has deducted tds for rs.2500. now I want to file my itr prevoiusly it was not filed. but I dont have pan no. please tell me the procedure for the same. how can I file my itr. waiting for help.

Sir's & Friends,

I had filed my friends return for income tax for the f.y. 10-11 on the 10.09.12, he had a refund of Rs. 57200/-, the return is processed and it shows (ITR Transferred out of CPC to Jurisdiction Assessing Officer in Incometax office) it also shows demand of Rs. 10120/- U/s 143 (1)(A). In such a case what should i do. Please help me, why this demand of Rs. 10120/- has come. Please let me know what should i do in such a case.

Thanks in advance

Hello Everyone..

I have a client house is receving a "Arrears of Pension" now & this Pension is Family pension (i.e this pension is recevied on account of death of her Husband)

now my query is with regards to the Taxablity of the Arrears of pension, as per section 57(iia) Family pension gets deduction of lower of Rs. 15,000 or 33.1/3rd percent of such income but Act is silent about the Arrears of pension

Secondly one can't consider deduction under Sec 89(1) as there is no Employer -Employee relationship here



All Suggestions are welcome..

thanks alot in advance..

Can a Salaried person who does not have tax liability of other than Short Term Capital Gain of Rs.292/- and long term capital loss of rs. 2435/- from listed shares of stock exchanges can file the return on 31-03-2013 without any penalty on late filing return. Pls. explain in breif. Thanks in advance