Srihari 16

• asked Apr 15, 2013

Gift to Spouse

Hello Pankaj, I have two questions. First is, I am in high tax bracket slab and have an FD of 50L, on which I am paying tax of 1.4L. Since my wife is in lower tax slab of 10%, I have decided to Gift 50L to my wife so that I can avoid paying...

section-64 clubbing-of-income gift-to-spouse fixed-deposit income-tax

0 votes

1 answers

1389 views

Anks 46

• asked Apr 12, 2013

Tax exemption through HRA

Hello, I live with my parents in Delhi - the home which we live in is jointly owned by my father & mother (the first name on the registry is that of my father). I have seen my peers in office depositing rent receipts duly signed by thei...

rent-to-parents hra-exemption rent-receipt house-rent-allowance

0 votes

1 answers

1948 views

gyaneshdoliy 1

• asked Apr 12, 2013

Salary Calculator

Sir If you have any Income Tax Calculator for 250+ Employee with all Allowance Gyanesh Doliya

income-tax-calculator income-tax

0 votes

1 answers

1116 views

HRIM 1

• asked Apr 12, 2013

for claiming HRA

In my company one female staff is asking for HRA exemption for the house rented out by them in her husband's name (agreement written in his name) as he is working in another state. For claiming HRA exemption is it not mandatory that the agr...

rent-agreement hra-exemption rent-receipt house-rent-allowance

0 votes

1 answers

1044 views

ritesh071 1

• asked Apr 11, 2013

longterm capital gain

I bought a flat from a dlf in 2007 for rs. 50 lacs . Possession of my flat is due in may 2013. If i sell this flat before taking possession for rs. 80 lacs, then will rs. 30 lacs profit be treated as long term capital gain or not. I bought ...

sale-before-possession long-term-capital-gains capital-asset section-54f income-tax

0 votes

1 answers

1649 views

GGN_Prop 1

• asked Apr 11, 2013

Commercial Property sale and tax

Dear Sir, My father has one commercial property which he bought in 1998 @ Rs 1.49 Lacs under his name only. Now we want to sale this commercial property @ Rs. 40 Lacs. There is one house under my father name (single owner) and one flat unde...

section-54f commercial-property residential-property long-term-gains capital-gains income-tax

0 votes

1 answers

2295 views

Vikram 16

• asked Apr 11, 2013

PPF Deposit Limit

Hi Pankaj, Hope you are doing good. I have question regarding the PPF deposit limit. I have one account for myself. I want to open 2 more accounts for my minor children under my guardian. I understand as per IT act, i can claim 1 Lakh under...

ppf-deposit-linit minor-ppf-account ppf-account

0 votes

1 answers

1335 views

HRIM 1

• asked Apr 11, 2013

Child Education Allowance

Sir, We dont have a component called child education allowance in the salary break up. But end of every financial year, we take a declaration from the employees who are eligible for this exemption (of 100/- per month) saying that their chil...

employee-declaration salary-breakup education-allowance children-education

0 votes

1 answers

1101 views

Sridhar 1

• asked Apr 10, 2013

Clarification for taxable income after home loan considerations

Hi, First of all, let me convey my gratitude and appreciation for the effort that you have put in for making such a beautiful and valuable website. My question is I have availed a home loan from a bank and am paying an interest of around 4l...

loan-from-relatives hra-exemption home-loan-interest rental-income

0 votes

1 answers

1404 views

Alagu 1

• asked Apr 6, 2013

Can Donations under 80G be considered in TDS by Office?

Hi Pankaj, First of all, hats off to you for the excellent service that you do at no extra cost. Much appreciated. I do have a question. I have paid a donation of Rs.6000/- to a Home for Children and the receipt says that the donations are ...

donation-amount section-80g tax-deduction

0 votes

1 answers

2893 views