CA PARAS BAFNA's Expert Profile

Queries Replied : 9397

I am a practising CA from Surat

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Favourite field of activity is Income-tax .

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Christy Abraham says :
sir, profession tax payments in excess of rs. 20000 by cash.. does it attracts 40A3 provision?? expecting early reply

B S Mittal says : Income Tax rebate on HUF
Hello Sir, I am the Kerta of HUF account from where i have earned 1.5 L in FY 2011-12.Apart from this i have my taxable salary 6 Lacs. So i need to know what is my total tax liability? Do the income from HUF account has any impact on personal income tax ? please advise

vijaykumar says : Relating to Educational Institute
Gud Evng Sir, i am a newly qualified CA and one of the client came to says that he is running a educational institute under trust from 1976 but he had not filled any returns. his assumption is that he is exempted under section 10(23)C but he is not filled a application to i.t. department relating to 10 (23) C . he runs aided school and non - aided school also. what is the present position? at present he likes to file a i.t. return . plz replay as possible as early . he collected fees per student around 500/-per annum.

vijaykumar says : Relating to Educational Institute
Gud Evng Sir, i am a newly qualified CA and one of the client came to says that he is running a educational institute under trust from 1976 but he had not filled any returns. his assumption is that he is exempted under section 10(23)C but he is not filled a application to i.t. department relating to 10 (23) C . he runs aided school and non - aided school also. what is the present position? at present he likes to file a i.t. return . plz replay as possible as early . he collected fees per student around 500/-per annum.

Nishakar Sahoo says : HRA exemption
Sir as I am in BSNl and my posting is in NE - II, Nagaland and as per rule with normal HRA an additional HRA equivalent to the last placed of posting HRA being received.So why I shound not get the HRA exemption for both HRA as I am paying Rent for both the places.