Hi,

My query is as follow:

Employee A lives in Delhi, working with a company based in Noida. A forgot to disclose the fact that he is living in metro city & his employer made HRA calculations on the basis of non metro city i.e., 40% of Basic salary & deducted TDS accordingly. Now employer says it was employee fault, books of account for fy 2009-10 has also been closed & TDS has been submitted to respective dept., no benefit can be provided. Can we claim such TDS on the ground that calculations should have been made @ 50% of basic salary. Original return is to be filed on or before 31-07-2010. Kindly explain the procedure and send it to sankalpkohli@gmail.com.

Thanks In Advance,

With Best Regards,
SK

dear sir, pls solve my problem and give me clearly answer. i m taxpayer.


tax liab. 11610
advance tax 8000
self asses. tax 3610
sec. 234 B & C shall apply. tax liab.of 11610 arise on sale of equity shares (STCG) u/s 111A. sec. 234B & C is applicable on bussiness income only or cap gain arise u/s 111A.

ded. u/s 80C and basic exem. hasbeen availed.

After working for around 2.6 years in a company i join another company to which as per previous company policy i have pay him around Rs50000 in lie of my exp & relieving letter. I paid such amount from my pocket . My new company ready to pay this amount back to me but they are deducting income tax amount from this as my new company considers this as my income. I don't understand why they are considering this as my income while giving back my money to me. There are considering this amount as my bonus while giving back to me so it comes under my salary structure. My question is how & why my current company pay on the behalf of my previous company. Why should i repay income tax as the money from which i had purchased my relieving & exp. letter has come in my pocket only after deducting all the taxes? Lastly, my new company accountant want to explain that this deduction is as per u/s 92b & 192b.I'm not sure about these clauses so want to share this also. Desperately waiting for your reply

I Had worked in 3 companies --

1st company for 3.5 years
2nd company for 4 years &
3rd company for 6 months...
but the PF a/c numbers for all the companies are different...
from the above i was withdraw the PF for 3rd company ..
so am i liable to pay tax on the same?

Thanks
shrikant

If we are paying amount to SMS provider for rendering service can tantamount to Contract u/s 194 C or Professional Fee 194 J

Dear Sir / Madam,

I have withdraw the PF amount from my EPF a/c recently.

Kindly let me whether i have to pay the tax on the withdrawl amount of PF.

Regards,
Shrikant

Hello, I have a query reg. a 5-yr Fixed Deposit made by me recently (i.e. in July 2010). I have invested Rs.50,000/= in a 5-year Fixed Deposit with a Tamilnadu State Govt. enterprise. Will this investment qualify for income exemption under Sec 80C for the current Financial Year i.e. for A/Y 2011-12 ? Thanks & regards, -Raju Chacko

Hi Gaurav,

This is small question from my side…Please Help.

1) Question: I have one joint property with my brother. I am co-owner. I am claiming that as self occupied property and claiming interest in income tax return
2) I am planning to buy another property with my husband. I would like to be joint owner in that property with my husband. But he would be paying 90% of the installment and 10% by me. He wants to be nominee..but I have question if I will be nominee ….is his mother and father would also get the share after the death of owner. OR should I will be joint owner and will be nominee …..Please suggest. What be tax liability of second house.

Dear Experts,
I have invested some money in Partnership Firm,the income i am receiving by way of interest is less than exemption limit Rs 160000. TDS is been deducted on the interest. Can i give 15G form to the firm and ask them not to deduct TDS...??

I heard 15G is applicable only to banks.

Sir,

While making E-payment of TDS suppose if there is a mistake while selecting assessment year or if the section no. is wrongly selected (Ex: Instead of selecting A.Y.10-11, if A.Y.09-10 is selected by mistake or instead of 94C, if 94D is selected) can it be rectified later?

If so, What is the Procedure? Kindly clarify urgently.

Regards,
Vinayak