I have got 23.00 lacs out of my share in the ancestral(father's name) property being sold in the year 2012-13. i m a government servant and have no other income besides my salary for which TDS is being paid directly by my employer. Also the above mentioned ancestral property was old one purchased by my father in 1980 and after he expired in December 2011, the legal heirs including myself being the nominees inherited the same in the year 2012-13 and subsequently sold off the same in 2012-13 itself. further i have invested the whole amount in purchasing a new house for myself.Kindly guide me whether the gains arising from this sale is eligible for the exemption under section 54 even though my holding period in the said property was less than the mandatory 03 years. if exemption cannot be claimed due to less holding period, then under what section can i claim exemption for the gains.

My gross salary for 8 mnts from 01.08-31.03.13 is Rs 349600
HRA for 8 months 96000
Gross total income = Rs 445600
Mediclaim=1700
Deduction u/s 80c=6240
net taxable income=437660
tax on net taxable income=23766
add: education cess=713
tax payable=24479 for 8 months
tax p.m=3060

above is the break up provided to me

what are the documents to be submitted for nil tax per month

i have my own Lic amounting to Rs 6000 pm & my parents having too can i get deduction for that

Having mediclaim policy of Rs 8000
what else i have to submit for 0 tds

please can anybody help me with amount break up & details.

Thanks in advance..

Sir after filling belated return, then is it possible to file revised return in future?

Can any body tell me what is the Tax applicability on Art work like Paintings, sculptures, etc. may be of professional artist possessing qualifying degree or not, ??? i mean on such work whether it is considered as Taxable service n taxed under Service Tax or whether it wd b treated as Manufacture (as such thing fulfills the conditions of movability & Marketability) so Excise duty ll b applicable, n if so then whether VAT is applicable or Woks contract tax would be applicable (both Service Tax n VAT wth reduced %)????
& if Service Tax is applicable then while purchasing such arts/paintings/sculptures to keep them into commercial premises as showpiece or else by Assessee (on whom Tax Audit provisions r applicable) needs to deduct TDS u/s 194J ????

hello experts,
My total income is less than 5lacs, but I had to claim for the house rent allowance, medical bills etc through return of income under section 139(1),but I failed to file the return .Now my query is whether I can claim these deductions through belated return.I am a salaried employee and I did not furnish the documents before the due date required by the company as a result more tax was deducted from my account.
thanks you very much.

WHAT IS THE DUE DATE FOR PAYING PROFESSION TAX & FILING THE RETURN-CUM CHALLAN ? IS THERE A PROVISION LIKE IF THE PT PAID LAST YEAR IS LESS THAN RS FIFTY THOUSAND THEN THIS YEAR THE TAX TO BE PAID YEARLY ? WHAT IS THE EXACT DUE DATE ?

I AM SUBMITTING THE TDS RETURN ON SALARY. BUT THERE IS MISTAKE ON PAN NO? WHAT IS THE PROCEDURE OF REVISED RETURN?? THERE ARE 4000 EMPLOYEES SO THAT ITS BIG RISK? PLEASE TELL ME THE PROCEDURE??

Dear Experts, I have using ITR 4S for filling returns for LIC agents and Airline ticketing agents. But someone tells its wrong use ITR 2. Please clarify which form applicable.

Hi I filed a IT return online for a salaried person in last month but has not send the acknowledgment to the IT office. Now he wants me to avail some more deductions under 80C.Therefore I have to file the return again.
In this case as the acknowledgment for the previous filing was not send to the IT Dept , should I file the return as ' 11-Before due date 139(1) ' OR as '17-Revised 139(5)' (as given in the excel template) ?.

Kindly help

Thanks

Rahul

Sir,
I Have e filed the IT return of the AY 2011-12 of my brother in which the same employer has deducted the TDS by using 2 different TAN numbers but by oversight I had mentioned only the latest TAN number and claimed the entire amount
I have filed the return after the due date - 24/09/2011
Now intimation u/s.143(1) has been sent by the department and they have asked to pay the balance amount.
Please guide me what to do whether I can file a revised return if so give me the procedures
please reply