Partnership firm has loss in year say 2012-13 year Rs.20k (PSR 1:1 i.e., two partner) In current year 2013-2014 ,partnership firm has a profit of Rs.40k as per p&l a/c. so firm will pay the tax on Rs 20k after adjusting the c/f loss of Rs 20k. So my question is that is 20k is exempt profit for each partner or they have to pay taxes on Rs.10k...???
If insurance premium is Rs.72000. Is it fully deductible u/s 80C
is dividend received from employees co operative soceity taxable in the hand of employee
What are the Consequences if ITR-V was not Send with in 120 days of filing of Return
Clarify Whether there is a chance to attract any Penalty/Interest for non sending of ITR-V.
Respected Sir,
Sir I dont Remember login Password of incometax, According to Incometax Deptt I will sent a email on validate@incometaxindia.gov.in
but deptt reply your email id not registered then what i do for email id Registration
Should we deduct TDS on railway and air transport. Please reply me fast.
Hi,
I have purchased commercial property in 2012 but I did not gave it on rent in 2012 and 2013. I have my flat on which I had loan till 2010 and I had cleared all the loan. For commercial property purchase, I took loan against property (my flat) and I had paid interest on that loan in 2012 and 2013. How should I claim the tax benefit for the loan amount?
Thanks,
Pankaj
I have retired from Indian Navy and I have received following amount. Please tell the tax treatment:
1. Gratuity - Rs. 17 lakhs
2. Leave encashment - Rs. 10 lakhs
3. Commuted Pension - Rs. 17lakhs
Regards
SALARY INCOME RECEIVED FROM WORLD HEALTH ORGANISATION IS NOT TAXABLE AS PER THE W.H.O AGREEMENT. CAN ANYONE PLEASE TELL THE SECTION OF INCOME TAX ACT, 1961 UNDER WHICH IT IS EXEMPT?
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