I have been residing in a house owned by me. Now, I have taken a loan from bank for reconstruction, repairing, renovation and expansion of the said house. After completion, I have planned to lease the ground floor on rent basis and reside in 1st floor. Whether, I am entitled to get the prescribed benefits/exemptions allowed against the housing loan like deduction of Interest paid and deduction u/s 80C ?

I have received a demand notice from CPC for AY 2014-15 (Intimation u/s.143(1).Although I had paid the said demanded self assessment tax and filled in ITR the relevant challan no. and amount. What should I do now ?

Sir,

I would like to know, if a salaried person received Salary in January 2015 Rs.20,000/- for full attendance and in February 2015 he received Rs.9,000/- due to leave, how much professional tax has to be deducted from his Salary for the month of February 2015 i) Rs.200/- or ii) Rs.150/- he has not resigned in job ,continuing his job.

please reply.

CAN A SOLE PROPRIETORSHIP DEDUCT TDS WITHOUT TAN NO, IF YES THEN HOW CAN HE DEPOSIT THE TDS TO INCOME TAX DEPT.

can an individual can deduct TDS under the provisions of income tax act


Thanks in advance

Dear all

i file income tax return of AY 2014-15.and i claim refund INR 13,400.
mistakely wrong account no.mentain in ITR.
After processing income tax credit in wrong acoount.in wrong account noumber does not match my name
For this regarding i contact income tax department and bank but not any given appropriate answer.Please advise for this problem

Welcome any valuable suggestion.

is it compulsory for a salaried employee to file income tax return?? N what if salary is exceeding 5 lakhs?

I am engaged in various items agency business, in which net profit is earned from 1% to 3% only and yearly turnover is around 80.00 lac. I can't declare 8% profit on the turnover. What is other alternative for me except getting accounts audited by a CA ?

My brother is a photographer and is currently freelancing. 1. Does such income come under income from business/profession? 2. We had purchased a motorcycle under his name 4 yrs back but he started freelancing just last yr in 2014 and uses the same for traveling to clients place, so can he claim depreciation in AY 2015-16? 3. If yes then will it be calculated on the original cost on 2011, or on wdv as on 2014 after assuming depreciation for first 3 yrs. We haven't claimed any depreciation on the bike for any earlier AY Thank u

I was working in Arvind Mill (Arvind Ltd)
now the mill has been closed the employer paid me gratuity & Compensation. But there was deduction as tax of Rs.28880/- against Compensation Amt of Rs.403724/- I want to know that compensation of loss of employment is taxable or Tax free ?