If co-operative society transfers the flat in form of shares.And if now co-op society want to sell d land..and give the money to members of society...what will b the tax treatment in hands of members????

Hi,

My motherhas Fixed deposit of Rs.10,00,000/-. The interest from this deposit falls below taxable limit. She does not have any other income.

She has taken a loan of Rs.9,00,000/- from the deposit. She withdraws Rs. 4 laks, repays in 3-4 days, again takes 5 lakhs, repays and so on.

The turnover from the account has crossed 60,00,000/- from April 2014.

My query is, is any tax applicable on such transaction?

Hello Sir

I dont think so any tax will be applicable on such transaction as no income arises from such transactions.

1

Unknown person was cash deposited to our bank a/c & the same amount he was taken DD in same date is their any problem in the time of filling.....urgent
 

Sir,

I am employee of Maharashtra government. I stay in a rented house which is located in Nagpur. But my office is located in Amravati. These are separate districts / towns. I commute every two days between Nagpur & Amravati.

When I tried to claim HRA exemption in my income tax by furnishing the rent slips belonging to my rented house in Nagpur, my office objected to this and told me I cannot claim HRA exemption for rent I am paying at Nagpur.

I was told that as my headquarter is Amaravati I can claim HRA exemption only if the rented house is in the town / city of my office.

Plz let me know, Is there a such a restriction in claiming HRA exemption? Or I can claim HRA exemption irrespective of location of my rented house.

Respected Sir,

i have  recieved itrest income  from partnership firm ,please let me know can i get deduction u/s 57(III) of intrest paid against unsecured loan  ?

Respected Sir,

I have recieved intrset income from partnership firm, please let me know can i get deduction u/s 57(III) against intrest paid on unsecured loan ?

please rply as early as possible

T.R. PATEL

Dear Sir/Ma'am,

In 2011, I booked a house with Amrapali. But due to fight among its director that project was cancelled in 2013. Till 2012 we paid 20% of the total value. In Devc 2014, builder returned our money after deducting service tax and TDS. He also paid the 10% simple interest for that period. I would like to ask you how to calculate my tax liability. Will this income be considered as long term capital gain? Please help me and tell me how to treat his gain in income tax filing.

Thanks and Regards,

Vikalp Maheshwari

Hi,

I work in an MNC and I get RSUs (restricted stock units) of my company.
The company's shares are listed on New York stock exchange.
On the date of vesting required number of shares are sold automatically to cover
tax obligations to Govt of India.
I sell my remaining vested RSUs on that stock exchange and repatriate the
proceeds to my bank account in India.
While filing my IT returns, in ITR-2 form, should I answer 'yes' to the following question ?
Do you have income from any source outside India ?

Thank you.
LML

Immovable Property held jointly by two persons sold for Rs. 90 lacs. Whether TDS is to be deductable under section 194IA or not in case of both the co-owners.

Please reply for my above stated query.

Sir,

Please clarify if an assessee makes sales in cash in a day through petty cash memo less than Rs. 20,000/- each and total aggregate sales of a day becomes more than Rs. 2,00,000/- . In cash memo he simply written cash sales instead of specific name of the buyer.

Whether section 206C (1D) will be applicable in such type of case or is it mandatory to give the name of the buyer in cash memo.

Whether only name  may be sufficient or complete address to be written in cash sales. No account of specific buyer is required then how it is possible to add the sales of a specific buyer of the month or of the year.

Please clarify the situation in such type of cases.

Hellp Sir,

Yesterday i have file a income tax Retrun for the AY -2014-2015

Of my friend,

But One mistake has happened 

I have show 247000/-income in AY-2014-15

I have heard that there is Limit of 2 lakh 50 thousands in Ay-14-15

N i have file that retrun 

After that i have realises that in 14-15 200000/- is limit  & Tax also come

So  i want to revise that return

Plzzzz Suggest me 

Thankyou ,

Fahim Shaikh .

I am buying land on the demand front Whitemoneybut i have black money, what do I do next? how to i pay