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» Tax
Posted by Sachin Sharma on 2009-07-29 23:49:25.196706+05:30
I have been served with an assessment order which is undated and unsigned along with a notice of demand raising the demand of tax and penalty on the basis of said unsigned order served upon me. I know that the said order is void abinitio. I have come to know that the authority below after I filed an appeal has signed the said order in its records. My query is that as to whether the Appellate authority can set aside the order on technical error on the part of the authority as the said authority will produce the signed order from its record and the case can be remanded for denovo assessment or the appellate authority should quash the order as the presumption goes that no aorder of assessment has been passed. Requested to please cite any case law on the subject.
» Treatment for Debt MF short term capital loss
Posted by S.V.Sukumar on 2009-06-06 11:47:39.130684+05:30
If I have bought a debt MF and incureed a short term capital loss( selling it with in one year), can I set of the loss against my interst income from fixed deposits? Query is based on the fact if we have had short term capital gain out of Debt MF, normal rate is applied , so should be for loss
» Tax rebate
Posted by vikash on 2009-01-30 15:27:39.08288+05:30
I am a govt employee. I paid Rs 24000 as my tution fee for my part time Ph.D. Will i get income tax rebate on this fee? Please reply
» Tax calculation for pensioner
Posted by Aaliah on 2008-11-25 23:06:16.871015+05:30
My 58 year old father is a retired Army Officer whose only source of Income is : 1) Govt Pension 2) Interest on FDs. Need help on how to calculate the Tax liabilityPension (A) : 16000Interest on FDs (B) : 32000Total Taxable income (A B) : 248000Is he eligible to claim exemption on pension (on aspects that salaried employees claim exemption on – viz HRA, LTA, Transport, Medical) apart from the 1 lac limit for investment and 10000 on Medical Insurance? Any other aspects that he can claim exemption for? Pls illustrate on how I can calculate the tax.Also, he had invested 1.5 Lac in a business that my mother started, which went into a loss. Would he be able to claim a reduction on tax for the same? Please help
» LIC prem paid by employer of employee
Posted by NILESH PAREKH on 2008-10-31 16:02:22.142227+05:30
Company XYZ Ltd. is paying Rs.40,000 yearly LIC premium of one of its employees. Employee is not claiming deduction of this Rs.40,000 under section 80C in his computation of income. Company is paying FBT on premium paid. This expense is debited to "Staff Welfare" expense in company's books. Please let us know whether on maturity amount received by employee from LIC will be taxable in his hand?
» LIC PREMIUM PAID BY EMPLOYER OF EMPLOYEE
Posted by chandni on 2008-11-21 11:01:26.714919+05:30
The person who is paying the premium will get the deduction u/s 80c and the person who is receiving the amount will be taxed,in this case employer is paying the premium of his employee,employer will get deduction of 80c and on maturity amount received by employee from lic will be taxable in the hands of employee.
» IT - Blog link please
Posted by Deepa on 2008-10-24 13:26:33.838529+05:30
Can you please share the blog link described in this article. I cant seem to find it.thank you,RegardsDeepa
» Service Tax Query
Posted by Gaurav on 2008-10-17 15:17:37.303351+05:30
As ST in case of Air Travel Agent is apllicable on Basic Fare @ .6% for Domestic
» capital gains
Posted by sethi on 2008-09-18 10:40:11.537707+05:30
i want to know that after selling my residential property,can i buy a commercial property without any capital gain/tax..also tell me that what are the ways of saving tax.s
» capital gain
Posted by chandni on 2008-11-21 11:24:10.668028+05:30
there is 2way to to save tax,firstly you can sell the residential property and withhin 2years you can buy new residential property and this save your tax also,secondly you can treat your residential property as capital gain and differece between cost acquestion and sales price treat as income and pay the tax on 20%
» capital gains
Posted by sethi on 2008-09-18 10:39:43.56876+05:30
i want to know that after selling my residential property,can i buy a commercial property without any capital gain/tax..also tell me that what are the ways of saving tax.s
» Capital gains for 2 demat A/Cs
Posted by Rahul Sharma on 2008-09-16 12:22:07.990743+05:30
I have 2 demat A/Cs A
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