my relatve sold some land to govt authorites on dec 2008 which costs arronds 60 lcks.after that he deposte the money in bank from whch he is geeting interest around 3 lacks yearly. his yearly saveing (insurance 1 lack).but till 2 day he dont deposite any tax or not submitted any return.no tds deducted by the bank aswell.
now on the above informaton pls let me know the tax amount for 2008-09, 09-10
| Originally posted by : abhijit | ||
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my relatve sold some land to govt authorites on dec 2008 which costs arronds 60 lcks.y he dont deposite any tax or not submitted any return.no tds deducted by the bank aswell. now on the above informaton pls let me know the tax amount for 2008-09, 09-10 |
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May be there some other ways he invest the rest money which will not come under tax quote.But tax on income between Rs. 2 to 5 lakhs - 10 %.
| Originally posted by : abhijit | ||
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LTCG/STCG paid or not ? after that he deposte the money in bank from whch he is geeting interest around 3 lacks yearly. his yearly saveing (insurance 1 lack).but till 2 day he dont deposite any tax or not submitted any return.no tds deducted by the bank aswell.
if he is not submitting return then he is in loss of excess tax deducted. 1.6+1.00=2.60 already exempted so he has to pay tax on 40000 only. but tds deducted on whole 3 lacs !! |
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Please consult a CA nearby to get more help !!
| Originally posted by : U S Sharma | ||
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my relative not paid LTCG/STCG yet.pls tell what are the rates nd fine provision for dat Originally posted by : abhijit my relatve sold some land to govt authorites on dec 2008 which costs arronds 60 lcks. LTCG/STCG paid or not ? after that he deposte the money in bank from whch he is geeting interest around 3 lacks yearly. his yearly saveing (insurance 1 lack).but till 2 day he dont deposite any tax or not submitted any return.no tds deducted by the bank aswell. if he is not submitting return then he is in loss of excess tax deducted. 1.6+1.00=2.60 already exempted so he has to pay tax on 40000 only. but tds deducted on whole 3 lacs !! now on the above informaton pls let me know the tax amount for 2008-09, 09-10 Please consult a CA nearby to get more help !! |
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get in touch with a CA nearby to get solutions, as the details provided are incomplete
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