TAX query

The unrealised amount that was not allowed as deduction in 2004-05, will be allowed now... And any excess there on will be taxable in 2009-10...

In ur case, amount taxable is Rs. 3000 only

Dear Paras............

15000-11000 = 4000 Not Allowed

Hence

7000-4000 = 3000

Hench 3000/- Amount Will Be Taxable In This Year.2009-10

Originally posted by : D н ! я σ √
	The unrealised amount that was not allowed as deduction in 2004-05, will be allowed now... And any excess there on will be taxable in 2009-10...   In ur case, amount taxable is Rs. 3000 only

 Agree With Dhiraj... 3000 is taxable in this year

First of all, the reason for short allowance need to be known. Why only Rs.11000 was allowed when Rs. 15000/- were claimed. If this allowance has been made by the AO on the basis that only Rs.11000 were eligible to be claimed, then as per my opinion, you can not claim the balance. And in this situation, whole amount of Rs.7000/- should be taxable. But for any opinion, exact facts to be given.

hi

can anyone tell me difference between "Issue of notice V/s Service of notice" under income tax act, 1961?

sorry for asking question here instead of starting a new thread,