Disclose exempt income while filing ITR
Query 1] Part-I] It’s time to submit ITR. I have read in some IT related articles that tax free…
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Residential status vs. Taxability of Income
Query 1] My friend’s son stays in Australia and sends money occasionally to him for maintenance. My friend is a…
Joint development agreement & capital gain tax
Query 1] I am having some queries regarding capital gain tax, as under: My father had purchased one lease hold…
Know clubbing provision before gifting to wife
Query 1] Part A: My wife, son & I have a separate savings bank A/c at same branch of SBI.…
No excuse, Purchasing property below stamp duty valuation is taxable
Query 1] My friend purchased house at Hingna jointly with his brother, sale deed executed in May-2014. Actually, purchase agreement was…
Medical Allowance Vs Medical Reimbursement: What’s in a Name
Query 1] Kindly intimate, whether the amount received under medical reimbursement is taxable or not? If taxable under which section…
Tax treatment of gratuity received by LIC agent
Query 1] After serving LIC as agent for 15 years, LIC gives one time gratuity up to Rs. 2 lakhs…
AVAIL ADDITIONAL DEDUCTION OF RS. 50,000/- BY INVESTING IN NPS
investing in NPS Query 1] I have query regarding income tax FY 2015-16. I am a salaried individual resident status individual.…
NRI: Basic exemption limit cannot be reduced from LTCG
NRI basic exemption Query 1] I am an NRI Sir in AY 2015-16. I am having taxable house property income…
Deductor liable for penalty @ Rs. 100/- per day if TDS certificates are not downloaded
Deductor liable for penalty Query 1] My query is to whom the downloading of quarterly form No 16 is mandatory?…
Income from funds transferred to Wife attracts clubbing provision
Income from funds transferred Query 1] I am a salaried person and pay Income Tax. I transfer my salary from…
ITR FORMS : THE WAIT IS FINALLY OVER
ITR FORMS Query 1] Please let me know as to which ITR Form (ITR 5 or ITR 7) is require…
A step-by-step guide to file income tax return
guide to file income tax return Query 1] I am a salaried employee. Please explain in detail regarding procedure of…
Tax impact varies with Time, Place & Heads
Tax impact Query 1] I purchased plot on 1st June 2006 on installment bases for Rs. 1,05,500/- & incur Rs.…
Amount received against mediclaim policy is tax free
tax free Query 1] Kindly intimate whether expenditure for indoor treatment paid by insurance company against mediclaim insurance policy is…
Invest in India to get capital gain exemption.
investment in India Query 1] My son is settle in London. He is having a plot in Nagpur, which he…
Tax credit of Rs. 2,000/- available if the total income of individual is less than Rs. 5 Lacs
Section 87A Query 1] Kindly inform me whether the tax credit of Rs. 2,000/- for those whose income is below…
