If suppose a dealer wants to pay LBT for the month of Oct, 2013 in the month of Jan, 2014 an interest @ 2% should be required to pay on LBT Liability after the 10th of Nov, 2013. Whether I should calculate interest on all the months of nov, dec and jan, 2014 considering the part of the month as whole month or I should calculate on late days i.e., from 11th Nov, 2013 till today. Please reply.

I have registered pan with income tax before 2 days. Not yet i dont get activation link. How can i change my email ID?

My client has wrongly given status as Company instead of AOP. Can status of PAN changed to AOP now and retain the same PAN? If not, how to claim tax credit in faulty PAN?

I paid rent 84,000/- for 7 months (12,000/- per month) to the house owner A and 60,000- for 5 months (12,000/- per month). (both in New Delhi)

total rent paid(84,000) to owner A is below Rs. 100,000/- for the year 2013-14. Similarly rent paid(60,000) to owner B is also below Rs. 100,000/- for the year 2013-14,
There should not be any requirement to submit the proof of PAN of both owner

Whether, in this case I have to submit PAN of both owner to the Income Tax Department?

Basic 250,000
Actual HRA 150,000
Rent Paid(144,000) - 10% of Basic Salary(25,000)
119,000
50% of Basic Salary 125,000
least of 150,000 / 119,000 / 125,000 = 119,000
(without PAN of both owners)


Dear experts,
thanks in advance.

1 OF MY CLIENT WANTS TO GET HOUSING LOAN OF RS. 7 LAC..SO HOW MUCH TAX SHOULD HE PAY FOR LAST F.Y..??

THANKS IN ADV

Dear Friends Pl clarify how to treat the interest during construction of house if the house is completed with the same financial year of taking loan from bank. Wheather to take full interest for exemption or it should be at 1/5 each for 5 years.

Dear Sir,

Kindly let me know the difference between PTRC & PTEC registration...

Also let me know the due date to file PT return for Maharashtra state.

Thanks in advance

I have forgot my income tax efilling password as well password of mail which was mentioned along with efilling login. Can you please help me how to retrieve my account or get a duplicate one?

Dear all,

I have received FY 2009 - 10 TDS intimation short deduction, late payment int regarding, when i download justification report, there was pan error is there, now i will pay SD, LP, want to be filled a revise return or not.

thanks, but i don't have pan no, because the client not along with us, what can i do.

A relative turns 18 years on February 3, 2014. Can he file IT Returns for the AY 2014-2015 (FY 2013-2014) as a major for the full financial year 2013-14 or only for the period 3/2/2014 to 31/3/2014?

Kindly advise if the income of the financial year 2013-2014 has to be split into two categories:
(1) the income that arises during the period upto 2/2/2014 when he was a minor and this income has to be clubbed with the income of the parent;
(2) the income that arises from 3/2/2014 to 31/3/2014 which will be his income as a resident individual (not to be clubbed with the income of the parent).

In the case of a person turning 60 even in February 2014, he will be considered a senior citizen for the full financial year 2013-2014. So, if a child becomes a “major” in February 2014, will he not be a “major” for the full financial year 2013-2014? In this case, there will be significant tax saving as clubbing provisions will not be applicable and the total income will be split into two – that of the parent and that of the son. I will appreciate your opinion alongwith a reference to the applicable section of the Income Tax Act.

Thanks.