Hi,

I am trying to submit my income tax returns through online (ITR1).

I am working individual in a company. I have fixed deposits in my name well. My company has already deducted tax on my income for the last year. Also the bank has deducted 10% TDS on the interest earned for my fixed deposits.

Now, I have inputted the total income earned from my salary in the "Income from salary" head. Also I have inputted the total income earned from fixed deposits in the "Income from other sources". Now if I try to calculate tax it exceeds the amount deducted by both company and bank.

Is the amount inputted in the above heads is right?. If so, do I have to pay the remaining tax to IT dept?
If the above input is wrong then under which head have to report the income earned from the fixed deposits?

procedure for articalship trancfer

Sir, I prepared both IPCC groups and passed only first group in may 2013. Now I am thinking weather to prepare for second group by doing article ship or only to do preapration for second group. If I delay the articleship now.. will the CA final attempt also gets delay????

Hello,
I would like to procedure of giving the gift, so that i and the receiver will be tax exempted.

E.g i have transferred the money from my bank account to my brother , brother in-law and spouse account , can i show this is as gift ?

if yes then under which head (like 80c, 80d..etc) ? and how much amount in a financial year i can be tax exempted ?

Please ,help me

Regards
Aakash Jha

I am facing problem while calculating depn for AY 2012-13.can anyone show the working of following question

Q/-written down value of 4 machine at beginning of of previous 2012-13, forming the part of a block of the asset carrying 15% rate of depreciation was Rs 5,00,000 the following 4 machines of same block were bought:
MACHINE DATE OF PURCHASE DATE WHEN PUT TO USE COST

P 5.1.2012 14.1.2013 50,000
Q 5.4.2012 15.5.2012 1,00,000
R 15.5.2012 31.1.2013 2,00,000
S 15.11.2012 27.3.2013 1,50,000

Four machines of this block (other than those which were acquired and put to use less than 180days) were sold for Rs4,00,000
calculate depreciation for assessment year 2013-14

Respected Sir,
I want to know that can i file my ITR for assessment year 2012-2013 in 2013-2014. I am asking not for financial year.

IF yes then Can you tell me i didn't get any Penalty For this.
I want to ask one more ques. that....if a refund arises in that year the income tax department give that to me...????

Please help me in this matter.
Thank you

If the property is self occupied and all the conditions are satisfied then the maximum deduction of interest will be 1,50,000.Right?

does 1,50,000 max include the accumulated interest deduction also which is accumulated before house was purchased or constructed?

Or 150,000 is just the max for interest due or paid after construction/purchase and accumulated will be added to 1,50,000?

How to submit income tax after filing all details in excel utility and validating it

Hello Experts,
We are looking to convert our sole proprietor company to a Pvt. Ltd. company.

Does Pvt. Ltd. company automatically become the owner of all the registrations e.g., CST, VAT, IEC registrations etc. ?

Thanks.

Sir plz i want to knw whn advance tax is required to be paid?? Thank in advance