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Tax Community Updates- Notification No. S. O. 1432, dated 22-2-2010
- Notification No. S. O. 1369, dated 19-5-2010
- Deductions - Donations to certain funds, charitable institutions, etc. - Notified sports association or institution
- Electronic Transaction Administration and Settlement System (ETASS)
- Exim Bank's Line of Credit of USD 5.763 million to the Government of Suriname
- Revision Of Undisclosed Income In Settlement Application Not Permissible - Ajmera Housing Corporation vs. CIT (Supreme Court)
- Sale of Investments held under Held to Maturity (HTM) category
- Transferability of Mutual Fund units
- Review of norms for investment and disclosure by Mutual Funds in derivatives
- Discussion Paper for proposed changes to SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 -
- Community Blogs Updates
- Arrear Bill preparation & fixation of ROPA-98 of west bengal Govt. employees
- Easy Income Tax auto Calculation in excel based SARAL-II(ITR-I),Form 16 for Male & Female and also Handicapped Employees
- Income Tax auto calculated SARAL-II(ITR-I),FY 09-10 & AY 10-11
- Salary calculation sheet in excel for west bengal govt employees only
- pay calculation in excel for West Bengal Govt Employees only
{ 18 comments… read them below or add one }
I recieved a cheque on refund on tax for year 2007. I had submitted the original copy of the cheque in my citibank account but got declined since the cheque was outdated. on further inquiry i came to know that IT cheques has only 3 months time of withdrawal which i was not aware of.
MY PAN NO – AAJPF7696Q
if company taking insurance policy against employee then we get rebate in 80c section ? at the time of i.tax return
awaiting for reply
we purchase asset COMPUTER on DC ONLY( second hand) we are not holding invoice bill including vat eventhoug can we take depreciationl we keep DC under record for purchase COMPUTER or what we do?
our company is incorporate in 5-1-2010 but i recd purchase for month of december now in which date i take entry in my tally (book of account)
awaiting your reply
There will be any deduction for the employee on whose life insurance has been taken, Insteat i will be taxed in the hands of employee as perks under section 17 of income tax act.
interest received on income tax should be treated as income
Hi,
I have a refund for FY 2007. However, while filing the return the TRP entered wrong BANK MICR CODE. I guess the refund is not processed because of this.
I know that I will have to file a fresh return for the same, but does e-filing of the same is allowed? If yes, how to go about that. And what about the proofs of investment I already submitted? Will I have to arrange the proofs again??
thx,
Amit
u can take tek depreciation on ur 2nd hand comp. used for your business purposes @ 60% p.a.
thanx
TRansport including contractor of cab business ( carring person for dropping or receiving)
MY FATHER PASSED AWAY ON 2.09.2005. WE WERE PARTNERS IN THE FIRM. HIS WILL IS REGISTERED IN MY FAVOUR. OUR C.A. CALCULATED INTEREST OF MY FATHER’S CAPITAL TILL 1.09.2005 AND SUGGESTED US TO MAKE ACCOUNTING ENTRY ON 2.09.2005. I TRANSFERRED HIS CAPITAL AMOUNT TO MY CAPITAL ACCOUNT ON THE SAME DAY OF DEATH. OUR CA MAINTAINED MY FATHER’S ACCOUNT AND PUT THIS ENTRY ON 2.09.2005.
MY FATHER PASSED AWAY ON 2.09.2005. WE WERE PARTNERS IN THE FIRM. HIS WILL IS REGISTERED IN MY FAVOUR. OUR C.A. CALCULATED INTEREST OF MY FATHER’S CAPITAL TILL 1.09.2005 AND SUGGESTED US TO MAKE ACCOUNTING ENTRY ON 2.09.2005. I TRANSFERRED HIS CAPITAL AMOUNT TO MY CAPITAL ACCOUNT ON THE SAME DAY OF DEATH. OUR CA MAINTAINED MY FATHER’S ACCOUNT AND PUT THIS ENTRY ON 2.09.2005.
IS THIS LEGAL???
PAN NO :- BTHPS7062P
Hi,
Can one person have two HUF? For eg. If there are Two Brothers in the Family & Each has there HUF, Now on the Death of their Father they Receives Property from the Father’s Will, Now is it necessary that to take the Property in the Books of A & B, They already have taxable income can there be any alternative that we can form one more HUF in the name of AB & Sons (HUF). Could you please refer it by any such decided case? Waiting for a Prompt Reply
Thanks
Regards
My wife is saving Rs. 500 in her name in an post office RD account out of the money given for household expenses . This money
after a period of time say 6 years is drawn and invested in stock market.
Kindly advise whether any short term capital gains on sale of shares will be clubbed with my income (higher incidence of taxation ) or will be treated as her own income (separate PAN) available.
dear sir/madam,
my name is ashish and i am a marine engg.till 2008-09 my returns are filed. but for year 2009-2010 i have not sailed i was at home and doing my studies. so this year i have to file for zero return. can u pls guide me whether i can file the zero return online or i hve to file it personally in income tax office.
thanx and regards
ashish
I bougth flat for 20lakhs and sold for 50 lakhs after 03 years.
The indexed Long term capital gain is around 28 lakhs . Do i need to invest 28 lakhs in new flat for getting total exemption in capital gains or do I need to invest all 50 lakhs
my name is tuntunjha my date of birth is 03/01/1992. i have applied for a pan card 3months ago. and i have not received my pan no. and card till now.
i doughter in laws can draw a salary from farther in laws sole proprietory business?