Income Tax queries [13681]

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Anonymous

30 July 2014 at 22:17

Interest on borrowed capital

In Form 16 employer has deducted Rs.241000/- as deduction for interest on borrowed capital. But when i fill ITR 1 it restricts me to Rs.150000/-. If i take Rs.150000/- as deduction then i will have to pay additional tax. what to do?

chaman kumar Gupta

30 July 2014 at 22:13

Speculation loss

whether future trading of commodity will be speculation loss or business loss

Maulikgiri Goswami

30 July 2014 at 21:44

Black money

whether goverment should provide any concession to the black holder to get back the it ?

Anonymous

30 July 2014 at 20:43

Tds query

I work with a Govt company.
I have made payment to a party and not deducted TDS on it. TDS had to be deducted @ 2% on that amount.

Now I need to rectify the problem of my last payment. What procedure should I follow.

We are ready to pay interest and deduct the TDS from the party's next payment.I am putting the facts:
1) Payment was made in February, April, May and June, 14.
2) No TDS was deducted on it.

Option which I am considering:
1) Deduct the TDS amount from the current payment for all the previous payments in the current date.
2) Pay the same with interest.

Question:
1) How to pay the interest amount (practically) like which challan??
2) How do I show it in the quarter 2 of 2014 return??

Please help me out its urgent

HEMANT VIRVADIA

30 July 2014 at 20:43

Regarding agriculture income

Dear Sir,
Can Exemption of Agriculture income be adjust against STCG?

Please reply as soon as possible.

Thank You

SUMIT SINHA

30 July 2014 at 20:36

Belated return

is there any way that i can file income tax return of assessment year 2012-13.

Anonymous

30 July 2014 at 20:27

Tax on partners income

Partnership firm has loss in year say 2012-13 year Rs.20k (PSR 1:1 i.e., two partner) In current year 2013-2014 ,partnership firm has a profit of Rs.40k as per p&l a/c. so firm will pay the tax on Rs 20k after adjusting the c/f loss of Rs 20k. So my question is that is 20k is exempt profit for each partner or they have to pay taxes on Rs.10k...???

Anonymous

30 July 2014 at 20:24

Itr1 or itr 2

Sir/madam,in form 16 If hra exemption is 44000/- then what itr form will be used

Anonymous

30 July 2014 at 20:14

Divident income

divident recived is taxable income

Anonymous

30 July 2014 at 20:06

In itr 4 code i have select for insurance commission recd

sIR,
i am going to file my friend return as u per suggested as bussiness income for insurance commission recd. but when i go to second sheet a part of Nature off bussines which code i have to select