Dear Friends,
We are in process of Invesing Rs. 50 Lacs in NHAI/REC Bonds u/s 54EC to save Income Tax on Capital Gain. We will get 6.25% interest pa on the same.

Will this interset Taxable in our hand? if yes, at which rate?

REC/NHAI has been given special exemption from deduction of TDS on the same.

Dear Friends,
We are in process of Invesing Rs. 50 Lacs in NHAI/REC Bonds u/s 54EC to save Income Tax on Capital Gain. We will get 6.25% interest pa on the same.

Will this interset Taxable in our hand? if yes, at which rate?

REC/NHAI has been given special exemption from deduction of TDS on the same.

A NRI WANTS TO PURCHASE PROPERTY IN INDIA.
IS ANY RESTRICTION ON THE SAME? THE PAYMENT MODE WILL BE RUPEES OR IN FORIEGN CURRENCY.

IF NRI WANTS TO PURCHASE A HOUSE FROM HIS BROTHER, THEN WHAT WILL BE THE POSITION.

WHICH SECTION OF IT ACT, 1961 OR OTHER ACTS DEAL THE SAID CASE.

A NRI WANTS TO PURCHASE PROPERTY IN INDIA.
IS ANY RESTRICTION ON THE SAME? THE PAYMENT MODE WILL BE RUPEES OR IN FORIEGN CURRENCY.

IF NRI WANTS TO PURCHASE A HOUSE FROM HIS BROTHER, THEN WHAT WILL BE THE POSITION.

WHICH SECTION OF IT ACT, 1961 OR OTHER ACTS DEAL THE SAID CASE.

Hi. I have one Query.. Please help me in resolving it..
A Chartered Accontant Claims conveyance Expenditure(Conveyance Reimbursement) from His Clients.
1) Is Any Kind of service tax Applicable on it?
2) Is it subject to TDS? If Yes under Which Section & At which rate?

If a person gets some gift, whether in cash or in kind, just because he's enrolled in their mailing list, what'll be taxability of transaction for him? He's selected for the gift by chance of luck and no participation or payment from his side?

can it be regarded as casual income and taxed under Income from other sources? Will TDS be deducted?

LIC policy on life of assessee - 80C deduction is allowed only on payment of premium. For P.Yr - 08 - 09 last premium, say 4th quarter (jan 09)is paid only after mar 31st 2009. can he claim deduction for A Yr 09 - 10, as it is stated in the section that the amount need not be paid out of income chargeable to tax?
In brief : To claim deduction for A Yr 09 - 10 should the payment of premium (Pertaining to premium due on Jan 09) be before Mar 31st 2009?

could anybody tell me why there is no levy of education cess on wealth tax act.

Wht is the last date of tds return deducted in the month of march up to 30/03 and date for expenses booked on 31.03.2009

Also kindly let me know the last date of tds return on salary..

Regards,

Manish

Dear Sir,

IF someone is paying tution fees for the Full time education of his wife, Whether deduction u/s 80C will be available to him or not. please suggest

Regards
Dileep