I have the following query for a person whose source of income is from bank interest and total income is less than 1.5Lakh, as follows: 1. If there is a small TDS of say Rs 800/- or so and if no refund is sought, then, is it mandatory to file ITR as there is a […]

I am a PSU employee and have a pension plan that is prior to NPS and the investment does not come under 80 CCD. But now they have increased the limit under 80 CCD by Rs.50,000. Incidentally, if I have another NPS in my personal capacity and I save Rs.50,000 a year, can I claim […]

Sir, I filed my IT return offline in A.Y. 10-11. A refund cheque was received to me but on that date the cheque has been expired. Please suggest and clarify, can I send request letter by Post to A.O. for reissue refund cheque ?

Currently I have live in my own house with father as co-applicant for home loan. I want to buy and shift to another house on loan with my wife as co-applicant for second home. Which house can be treated as self-occupied and let out for me, my father and my wife. and under which category […]

After my education i left to overseas and leaving for past 10 years in overseas and so far i haven’t filled the income tax return in india. Transferred funds i kept some as nre deposits and some in saving account resident deposit around 30lac. Bank is automatically deduction TDS on my resident deposit. And last […]

I have two questions. Question number 1: – Can’t I claim tax benefit on 5-year tax saver FD which is on the name on my wife? Question number 2: – Can I claim tax benefit on 1 year RD? That too is on my wife’s name.

I have purchased a flat in Feb 2004 for 105000 . I have spend close to one lakh in repair works ( 50000 in 2004 , 50000 in 2009) – I do not have bills I sold the flat in feb 2015 for 4800000. I also purchased another flat in oct 2013. Query 1. Can […]

Purchased new ready-to-move flat in Feb 2015. Full bank home loan disbursal over in this month. First preEMI will be paid in March2015 and next EMI (Full) will be paid in April 2015. May I get income tax benefit in FY 2014-15 itself, on the interest part in preEMI and interest accured till 31 March […]

I booked a property in Aug 2010, The loan got approved & disbursed in Mar 2011. Now the possession is expected in Mar/Apr 2015. Now, I got to know that if i sell the house before possession I will get LTCG & indexation benefits. However if I sell it after possession I will have to bear […]

Form 26AS & bank interest figures get updated after 31 march, so it is impossible to do exact calculation of tds/self-assessment figures. For the final self-assessment, installment being deposited after 31 march (but before 30 June), what do rules say regarding interest on this figure. Is there any limit/percentage/value below which interest is not payable? […]