Respected Members,
Very urgent !!! i need your valuable opinion ,, plssssssss !!!!
My client is a salaried employee of Eastern Railway Department as well as a commission agent of LICI .
During f.y 2012-13, he actually earned as Net salary of rs 3,56,242/= (approx & as per form 16 ) & received as commission of rs 3,92,570/=( as per form 16A ) .
Now, at this point of time his 3 requirements are ,
i) he wants to take a loan against Property ( of rs 15,00,000/= ) from a Nationalized Bank .
ii) he wants to get full amount of refund ( i.e, Rs 39,257/= ).
iii) he doesn't wants to pay any Self-assessment tax.
And I have to fulfill all the 3 requirements of my client at any cost.
That's why ..
the problems are ..
1) If i show only Salary Income --> then, there is no question of refund.
2) If i show only Commission Income --> there is no probability of loan sanction of Rs 15 lacs ( as far as EMI is concern ).
3) If i show both the salary & commission income --> then, bcoz of upper slab rate , client's have to pay Self assessment tax .
What should i do ????????????
Please response..
Thanks
CAclubindia
