CA PARAS BAFNA's Expert Profile

Queries Replied : 9397

+ View Full Profile

About me

I am a practising CA from Surat

Sharing the knowledge is my hobby.

Favourite field of activity is Income-tax .

What kinds of questions I can and can't answer?

My area of expertise

My experience in the area (years):

Organizations I belong to:

Publications or writing which has appeared :

Educational credentials:

Award & Honors:

Tuku says : plz help:e-file:income tax
I am 62 year old female and got family pension and family pension arears of 3.8 lacs in FY 2010-11. Other than that i have got 65000/- as bank interest on deposits.I belive i have to file ITR1 in efiling.Is there a provision of deduction of 33 1/3% or 15000/- which ever is less for family pension under u/s 57(ii). But this deduction will be applicable to total income or to the income tax calculated ? Please help me as i want to e-file my tax returns myself.

Radhika Singhal says : Charitable Trust
Sir, A charitable trust received donation at the end of the year i.e, in month of februrary and march. thus it is ant be utilized. Is the balance amount is taxable. if not then under which section it isn exempted.

Radhika Singhal says : STCG
What will be tax rate applicable for STG on sale of bullion?

Rahim says :
thank u sir for your valuable suggestion on the matter of revision of tax audit return

Jatin says : Income Tax Notice under section 221(1)
Hi Sir/Man, Can anyone please help me out in this matter. Yesterday I received a correspondence from Income Tax Office at my previous residential address. This was a notice and the particulars are as follows: PAN: ******* To, My name My Address... ............. ............. Sir/Mam, I find from my records that the following demands raised against you have not been paid:- Arrear No: 50 Nature of demand: Regular Asstt.Year: 2008-2009 Amount Rs. : 29002/- Date of service of demand of notice: Since due Due Date of payment: Since Due 2. You are hereby required to show cause why a penalty should not be levied under section 221(1) of income tax act, 1961. 3. In case you have already deposited the amount mentioned above, please produce that relevant challan, either personally or through authorized representative, so that you may be given due credit for the same. 4. for this purpose, you may appear before, me either personally or through your auth. representative at my office AMRITSAR on 15-07-2011 at 11:30 am or you may send a written communication so as to reach the on or before the said date. Yours faithfully, -------- Income Tax Officer. Kindly please help me as I have paid the taxes because the company where i work have deducted the tax every month from my salary and gave me the form 16 as well. And also I have filed a tax return for the same. Kindly let me know how I have to go ahead as I do not live in amritsar anymore and if i have to send them a written communication, then what is the format for the same. Waiting for the response. Jatin