Dear Experts,
I have query relate to housing loan and its deduction..1) can a wife apply for housing loan for purchasing house from her husband....2) if yes can she avail the deduction for repayment of housing loan u/s 80C & 24B

Regds
Arun

My accounts has been audited under section 44AB, I have lost my records due to fraud of accountant and CA, now can I file my return In ITR-4S and paid tax on total turnover ?
please help because my last date for filing is 31.03.2017 and I didn't want face consequences of non-filing.

Hi,

My partnership firm is registered with service tax. I have two queries:

1. Now we are giving engineering drawing (soft copy through internet) services to my steady US client. My client is paying us through wire transfer (using SWIFT) to my Indian current account. What is the procedure to file service tax exemption for these amount?

2. We are not expecting to cross annual turnover INR 10 lakh. In this case should I need to pay service tax?

For Ay 2016-2017 i have gross receipts from legal consultancy is Rs. 235000/- and income from dairy farming Rs 65000/- and agriculture income is Rs 80000/- deduction from 80 c to 80u is 42000/- So i want to know that which itr form should be filed ????? reply at earlist

Hi,

I am working in Germany.
1. If i gift money to my father in law will it be taxable to him?
2. If he buys agricultural land by that money is that ok?
3. Can he gift the same agricultural land to me after few years? will it be taxable to me?

Thanks
Manish

I have purchased machinery in name of xyz but now firm is running in name of abc , xyz n abc r same firm with same proprietor n same number with same business (name of firm was change from xyz to abc)Can cenvat credit b availed by abc though machine was purchased in name of xyz?

1. Reg. Income on Salaries.
- Can an employee request the employer through an application not to deduct his/her taxes vide a declaration that he/she will take care of his TDS and other liabilities with regard to Income Tax and employer is not responsible for the same?

2. Payment of Taxes on Salaries.
- One of the company, employees are receiving salaries with 60 - 90 days delay. Eventually, employees are receiving around 8-9 months salary only during the financial year. In this case, is employee is liable to pay for the salary which he/she has received in his / her bank account or for the full earned salary of 12 months ...even though the payment is not credited to an employee's account? I am assuming to pay taxes only on the salary which got credited to an employee's bank account. Request clarification on this please.

3. Employer deducted income tax from salary but not deposited to Income Tax Department..... so not issuing Form 16.....
When the employer is a defaulter, what do employee's course of action to file Annual Return?

In Sec.44AD, we tax 8% profit on turnover and if we have to show less than, then accounts should be audited u/s 44AB provided t/o is less than 1crs. in ITR-4S. But if t/o is less than 1crs. and we are showing profit after deducting expenses from income in ITR 4 , and such profit less than 8% of turnover, then accounts need to be audited?

We, I (myself & my two sisters) have inherited a 10.00 bigha plot of a land from my father during the year 1985, which was purchased by my father for Rs. 1,000/-per bigha only long ago.
Total cost by father 10,000

We had to incur various expenses like earth filling, road construction etc. etc. on each
plot @ Rs. 50,000/- per plot.
Total Expenditure 500,000



Now the said land is converted in 10 nos.plot of 1.00 bigha each and is going to be
sold to various persons @ Rs.2.00 lac per bigha each.
Total sale price 2,000,000


Hence, Sale proceed 2,000,000
Less: Cost & Expenses 510,000

Long Term Capital Gain 1,490,000


Sir, whether the above calculation is correct ? If correct, what are the various provisions to minimize the tax on LTCG ?

Tax implications on voluntary retirement, conditions.Is the date of announcing the scheme important for calculating tax liability ?