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Thanks Basu, My Questions was if I need to show the Investment in any form to IT this year. As you have mentioned, there is no need to show the Investment. Thanks for the reply....
My mother -in-law want to give Rs. 10 lakh out of her retirement benefits to my wife. What will be the tax liability as my wife has income of Rs. 3 lakh per annum
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Your question is not clear. If there was income from the investment in the joint business during last financial year, a return of income for that business and also for you as partner needs to be filed. As for the investment itself, it is not to be shown in any form. You say you are `thinking` about showing the profits from next year returns. You are OBLIGED to file a return and show the income in that return as and when you make profits and cross the taxable limit....
By the very word `company lease`, the company is bearing the lease expenses. Therefore, any relief available will be to the company and not to the employee....
The income made both by intraday trading and by taking delivery is taxable. Threshold limit of Rs. 2 lakhs will be deducted from the taxable income.
You can also avail of deductions for expenses such as internet expenses, electricity and telephone charges provided you have 100% evidence and all claims are supported by vouchers.
Intra-day trading profits will be considered as speculation income. Short term gains will be taxable at special rates viz. 15%. ...
SIR, I want to ask that my total salary was 4.0 lac ...
Dear sir.., i have query regarding on income from other source.., i have a habit of doing intrday stockmarket and some times on delivary for shorter period say not more than a month or so.., the incomes which i earned through this.. is taxable???...
Source:Forbes - I’m not a big fan of rules of thumb in the realm of personal finance, primarily because we are such inherently varied and volatile beings that most scenarios end up being the exception—not the rule. But at risk of breaking my personal rule not to impose them, you will find five tax-driven direc...
For a company Lease car what all an employee can file as car maintenance charges / expenses....
Kindly advise. Can the capital gains out of the sale of residential property deposited in Capital Gains account in SBI be utilised in prepayment of loan on the purchase of land....
