IMP Query abt Income tax
This query is : Open
21 August 2009
Hi Experts,
Suppose Mr. ABC is a student,, but he left his studies two years before in 2006, since 2006 he is not doing anything. But in meanwhile in 2009 he got brokerage of Rs.5,00,000/- on sale of land in pune in year 2008.
Prior to this he does not have any taxable income from any source. The other party who paid commission of Rs.5,00,000 deducted TDS @ 10.30 on this commission.
My question is : Is Mr.ABC is required to file ITR for FY 2009-10 ?
2) Under which head he can file the return.
3) As basic exemption limit is Rs.160000 for FY 09-10, can he claim refund of excess TDS deducted
Note : Mr ABC does not have any shop act license or registered business.
THANKS SIR, BUT UNDER WHICH HEAD HE HAS TO FILE HIS RETURN.
Note : Mr ABC does not have any shop act license or registered business
Suppose Mr. ABC is a student,, but he left his studies two years before in 2006, since 2006 he is not doing anything. But in meanwhile in 2009 he got brokerage of Rs.5,00,000/- on sale of land in pune in year 2008.
Prior to this he does not have any taxable income from any source. The other party who paid commission of Rs.5,00,000 deducted TDS @ 10.30 on this commission.
My question is : Is Mr.ABC is required to file ITR for FY 2009-10 ?
2) Under which head he can file the return.
3) As basic exemption limit is Rs.160000 for FY 09-10, can he claim refund of excess TDS deducted
Note : Mr ABC does not have any shop act license or registered business.
THANKS SIR, BUT UNDER WHICH HEAD HE HAS TO FILE HIS RETURN.
Note : Mr ABC does not have any shop act license or registered business
21 August 2009
If he falls under Tax bracket he has to file. Yes, he can get TDS refund.
21 August 2009
Agree with Expert.
24 August 2009
THANKS SIR, BUT UNDER WHICH HEAD HE HAS TO FILE HIS RETURN.
Note : Mr ABC does not have any shop act license or registered business
Note : Mr ABC does not have any shop act license or registered business
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Inventory of finished goods
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
