I own a flat in Delhi and let out it for a period of two years through a lease agreement to a PSU company which is my employer . My employer has given me this flat as official residence. The company makes deduction @ 10 % of basic pay as HRR and Housing Perks are also taxed as per prevailing rules. I wish to know the status of my property whether is self occupied or let out for the purpose of "income/Loss from house property".
Thanks

Dear Sir

We are a trust and our school have teachers & other staff of State Govt.

We prepare the salary bill 5th of the current month and salary gets credited into teachers account on 1st of next month.

For eg. For June 14, we prepare salary bill on 5th June and submit the same to state education dept. Salary to teachers credited on 1st Jul.

TDS is being deducted from salary and state govt reimburse the TDS into our trust account.

Please advise,
1. When should I pay TDS into govt account in above example ?

Is it 7th Jul or 7th Aug ?

i.e TDS deduction on accrual or payment ?

2. If it is on payment basis, then for the March 15 the salary will be paid on April 1, 2015 and TDS payment on May 7,2015.

In such case, form 16 will not have March 2015 as date of deduction falls beyond the quarter date.

Form 16 will state the details from March 2014 to Feb 2015.

Please advise if above is right or wrong ?

Your expert view will help us in correct compliance.

MY cousin wants to gift shares of private limted co to me since he is not relative it is taxable
so he is going to gift his father and who inturn will gift me

legally i can take gift from my uncle

so tax liabilty will be nill

please sugges

sir, I want to know the amount of penalty in case of non filing of return having income more than Rs. 5 lakh in case the amount of tds is already deducted on gross income

whether tax audit report signing limit 45 to 60 is applicable for f.y. 2013-14 audit assignment? ?? Thanks in advance

Hi,

I have capital gain for FY-13-14, if i will not file IT return for 13-14, what will happened.

even i have not taken any cap gain ac deposit the funds which were raised through sell of property.

pl suggest.

by which sources an individual can reduce his tax liability?
his salary is 12 lakh
total deductions are of 150000
now wt other deduction he can taken from his income??
he is receiving HRA and the house is on his wife's name

crop insurance claim received in current year taxable under income from other sources or under the head agriculture income.

whether it is taxable income as per income tax pls provide under which section crop insurance claim received is taxable or exempt

Dear Sir,

I Have no Income Tax Software & one of client want to file manual return, so may i file print of utility as manual return ?

If yes, what abt acknowledgement ?

From where can i get acknowledgement ?

Please guide.

Thanks in advance.

I received left over arrears in ths fincial year .so.my income tax arrise .what I have to do for exemption on this arrears amount.