Tax Queries

Dear naveen,

Income tax return are to filled assessee wise..Therefore in case of an Individual if GTI exceeds maximum exemption limit then he can take the benefit of Sec 80 C..

In present case, LIC premium will be allowed to the extent of Rs. 1Lakh....

i agree with mr ,Amir

he is right ,If  the GTI of any assessee is more than basic exemption limit & he is filling the return,he can asked for the Deduction u/s 80C to the max of the RS.1 Lac

He can claim as deduction under section 80C upto 1lac, since he is earning the income as sole proprietor.

Yes he can claim deduction up to Rs.1lac

We have a client, providing services of data entry for Govt. dept.He is maintaining accounts on accrual basis & Govt maintains accounts on cash basis. He booked service in the year in which service provided. The govt dept deduct TDS on job work at the time of payment which may be next year in which the services actually provided & accordingly govt dept. issue TDS certificates in the year of payment.

OUR CLIENT WANT TO CLAIM THE TDS IN THE YEAR OF RECEIPT OF PAYMENT OR RECEIPT OF TDS CERTIFICATE.IS IT POSSIBLE........

Pls reply on urgent basis

Regards,

CA Mukesh Somani

what is the realation between bakers and pensioners if pension is received by bank.

yes he can claim exemption

but to make ur point more clear  let me say u that deductions U/s 80

is allowed as deductions irrespective of source of income to all Indv & HUF

except winning from horse race

UR client can claim  deduction under section 80C upto 1lac,

since he is an individual assessee.

yes he will get benefit undr 80 c

can a pensioner apply for the relief of section 89(1)? which person he has apply for the relief of section 89(1)? 

can a pensioner apply for the relief of section 89(1)? which person he has apply for the relief of section 89(1)?