Status of my  Income Tax  assessment under sec143(1) for Year AY 2014-15 is being shown as “assessed and  no demand no refund ” in income tax department portal but unfortunately I have not received the copy of assessment order in my mail account since long which i need it for my record. Please enlighten how […]

If the amount eligible for capital gains tax is to be reinvested in buying a new property to avoid LTCGT, is it necessary to reinvest full amount into a single property? Or can the amount be split into multiple investments satisfying the criteria? For eg if the amt eligible for cap gains tax is Rs […]

Dear Sirs kindly help in  my following query. I have a salary a/c with auto sweep with ICICI bank. Since FY 12-13 few lakhs were there in a/c which ere automatically swept to FD. Bank has deducted TDS in FY 12-13,13-14 and 14-15.I Have withdrawn the entire amount in oct14. I was confused whether the […]

Hi I am staying in Bangalore in a rented space claiming HRA on same. Same time I have house in Pune which is vacant not rented out so can I claim loss on that property (loss as rent , property tax paid to local Municipality) Thanks and regards Hemant

Dear Mr.Manish, Good morning, hope your doing fine. Please let me know is the income from Rent is taxable. Rgds, Rajanna K V

Hi, Recently, I have been shifted to USA for 6 months, from Mumbai, for office work. I will be here for around 6 months. During this time, company is paying me here some amount. Money that will be saved here after my expenses will supposed to be transfer to India in my normal saving account. […]

Hi All, I took a HL (14L INR) in 2012 and this month I pre-paid 2L INR. Can I include this when I file the ITR for AS 2014-2015? Is this tax deductible? Regards, Karthikeyan R

Hi, Somehow I forgot to file the ITR for the Assessment Year 2012-2013 and it can not be done through online now. There are no tax to pay for that AS and I understand that I have to visit the Income Tax office to file the returns. Can someone tell  me how much would be the fine? Thanks in Advance, Karthikeyan R

I have 2 questions. Can I show an ELSS fund investment (one-time lump sum amount invested and not through SIP) for saving taxes during all the 3 years of the lock-in period? For example, if I invest in an ELSS fund in Feb 2014, can I show it to save taxes in March 2015-17 during the 3 […]

Hi Financial Gurus, This financial year i have to invest 2 lakhs in 80C to save tax for myself and my wife. Each year I invest 25K+25K in PPF. So far I have not started investing. Planning to do in SIP from Oct to March 2015. I have shortlisted the below ELSS funds and looking […]