Dev 1

• asked May 8, 2012

Flat booked two years prior to sale of old house

Pankaj ji, it’s a great blog. I am going to sell (execute registry in favour of buyer) of my NOIDA authority flat on 10.05.12 and LTCG of this flat are Rs. 20 lakhs. Further, I had booked another flat costing Rs. 35 lakhs with a builder for...

long-term-gains section-54 capital-gains income-tax

0 votes

1 answers

1357 views

ravikumar 1

• asked May 7, 2012

Long term capital gains tax

I have purchased half undivided share of a property in 1992, the total cost is Rs.3 lakh. The property owned by me is developed in 2003 and the amount incurred is Rs.3 lakhs. In both the cases Housing loans availed. The entire property, inc...

flat-development sale-consideration long-term-gains ltcg income-tax

0 votes

1 answers

891 views

Deep7885 1

• asked May 7, 2012

How to save tax on long term capital gains

Dear Sir, Me & my sister sold our ancestoral home in January 2010. We were the only owners as our parents & grandparents are no more. We sold the entire bunglow in Kolkata for 3.6 crores. The payment was made to us in two demand dra...

capital-gain-account long-term-gains section-54 income-tax

0 votes

1 answers

1451 views

Nitin Katiyar 1

• asked May 6, 2012

tax calculation sheet for FY 12-13

Hi, I am using the tax calculation sheet shared at your website for FY 12-13 but it has following problems a) It is considering only 50% of RGESS values as deductable from taxable income instead of 100% - row 92 b) It is not considering Inf...

rgess error infrastructure-bonds income-tax-calculator income-tax

0 votes

1 answers

1959 views

alokgupta 1

• asked May 6, 2012

REFUND UNDER E RETURN FROM CPC

I have submitted my return for the AY 11-12 through e return to CPC with a refund of Rs 1010/= On checking it has found that department has adjusted the refund in AY 8-9 and there a remark NIL DEMAND status Colum. Here I would like to clear...

nil-demand refund-adjustment refund-rejection

0 votes

1 answers

754 views

Jitendrak 1

• asked May 5, 2012

Capital gain tax on residentail land sale

I booked a residential plot in 2006 and paid 95% of its cost in installments till Aug 2008. I have not yet registered the plot on my name(5% is still remaining). Now I want to sell it and it will attract capital gain of approx 50L. How much...

residential-plot long-term-gains capital-gains

0 votes

1 answers

1186 views

PrasannaS 1

• asked May 5, 2012

NPS or tax saving mutual funds

Hi, I am looking for an investment for tax saving benefits and I decided to go with tax saving mutual funds. But after reading a blog on DTC at the below link, I am sceptical to go with the tax saving mutual funds as these may not be consid...

section-80c tax-deduction elss mutual-fund tax-saving nps

0 votes

1 answers

1815 views

Raj Ramesh 1

• asked May 5, 2012

ECR passport holder can travel in Residence Visa to Dubai

Hi, Iam working in Dubai as an Engineer and now i got the Residence visa for my wife who holds the passport with ECR. She will board/travel by next week (09.05.2012). Will it be any problem at Immigration for her to travel? Note : She will ...

ecr-passport dubai-residence-visa emigration-check

0 votes

1 answers

2404 views

Anks 46

• asked May 5, 2012

Tax Benefit on LIC/other insurance payments made through credit card.

Hello, Can someone advise if one is eligible to get tax benefit, if LIC/other insurance/annunity plan/pension plan, premium payment are made through a credit card? Is the tax relief same as this would be in the case where payment is made th...

credit-card-payment online-premium-payment life-insurance

0 votes

1 answers

2037 views

himuna 1

• asked May 4, 2012

Petrol reimbursement in Tally ERP9

Sir, CTC of one of our employee consists Rs. 1800.00 as reimbursement of Petrol as his own car is used for office purpose. His CTC looks something like this: BASIC : 60000.00 PM HRA : 24000.00 PM CONV : 12950.00 PM MEDICAL REIMBURSEMENT : R...

payroll-query tally-erp9

0 votes

0 answers

2388 views