There is a rule that if exempt income exceeds rupees 5000, a salaried individual with interest income and income from one house property will have to use ITR-2 and cannot use ITR-1. What is covered under exempt income? Will HRA and transport allowance also be covered in the limit of 5000?

Hiiiiiiiii all,

I am a member of Mysore bank cooperative society from 1969-2011.When i was member i was allotted a site in 1970 with possession certificate.But i have registered the same in 1988 for a consideration of 4500/-.In 2012 i have constructed apartments on the same.And in 2013 i have sold my flat for a consideration of 30Lacks.

And for that construction purpose i incurred 20 Lacs.

As land was aquired before three years it is long term,and building constructed in 2012 it is short term.Am i right?

If it was right,how to separate land and building values?

Please clarify?

Dear Expert,


We will be making payments to a vendor who has taken on lease / rent few rakes of railway. We will be moving our stocks through such vendor and will be making payments to him (not a direct payment to railways).


Am I supposed to deduct TDS on freight payments to this vendor?


Thanks in advance

Ganesh

let us assume a person is earned per month salary 1,80,000.my question is how much TDS pay to the government by this person monthly

If i made payment against purchases of any property in few installments which will be pay in next say 4 years ,then whether inflation index applies for that year payment separately or on the basic purchase cost as per agreement directly.
F.Y 04-05 purchase cost 100000/- (agreed cost)
Payt made F.Y 05-06-50000/-
F Y 06-07 50000/-
Then what will be the appropriate treatment
1)Directly 100000*sale year index/pur ye
index or

2) 50000*SYI*05-06 pur index
50000*SYI*06-07 pur index separately

Dear Sir,

Please note we have imported a machinery by availing SEZ benefit in 2011. Now we want to sell it to a DTA Unit. Please advice:
1. how to calculate the depreciation value?
2. can we sell on a price more or less than the depreciation value?
3. is there any valuation method acceptable by customs for machinery?
4. On what value the customs duty will be applicable - on the invoice selling price or depreciation value?

Thanking you,

Regards,
Naresh Singrakhia

if I donated rs 9000 to one charitable institutions and also donated rs 8000 to another in cash mode. how much of amount I can avail for deduction.

One of my client was under tax audit for first time in the F.Y.2011-12. Then, in the F.Y.2012-13 his turnover was below tax limit. Now in the F.Y.2013-14 his turnover cross the tax audit limit.

Now, my question is this is he should be liable for deducting TDS for this current F.Y.2013-14 ?

Hii....its rahul rathod
i need Suggested Answer Sheet of Group 2 Examination....Plz Anyone Provide me.

how much of companies act 2013 is applicable for cs December 2014 examination