Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: TDS :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: VAT Audit :: form 3cd :: cpt :: list of goods taxed at 4% :: empanelment
ę General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India‚Äôs crazy retrospective tax on foreign funds will tarnish country‚Äôs reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

Q & A Tax arrears
February, 15th 2010

May I submit a revised income tax return for 2008-09 to include the arrears payment of 2008-09 received in 2009-10. If so, under what rules and how can I do that? What is the minimum annual income for the year 2009-10 for which there is no income tax for senior citizens? 
ce you have received the arrears payment in 2009-10, you shall have to show the income in the return for 2009-10 only. You dont have to file a revised return for 2008-09. The basic exemption limit of income for senior citizens for 2009-10 financial year is Rs 2.40 lakh.
Hike in pension 

I am a pensioner and I am entitled to a hike of 20 per cent of the basic pension on attaining the age of 80 years as recommended by the Sixth Pay Commission. Since my date of birth is March 16, 1931, I would seek clarifications as to the date/month from which I shall be considered to have attained the age of 80 years so that I can avail of the enhanced pension claim.
Your date of birth is March 16, 1931. So on March 15, 2010 you had completed 79 years and from March 16, 2010 you have attained 80 years.
Buying a house

I am a state government employee. In order to purchase a resale flat, I have paid Rs 25,000 in advance payment through a demand draft to the individual seller. Is the amount deductible from gross total income under Section 80C of the Income Tax Act?
case of purchasing a house, the benefit of deduction applies only when you take a loan to fund the purchase. Furthermore, the deduction can be availed of only after taking the possession of the property and not before that. When it comes to home loan, principal payment up to Rs 1 lakh is deductible under Section 80C of the Income Tax Act. So, when you buy a house property, you wont get any deduction benefit for the amount you pay on your own as down payment or booking advance.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Organic SEO Outsourcing Organic Search Engine Optimization Outsourcing Organic Website SEO Organic SEO India Website SEO India Organic Search Engine Optimization India Organic Internet SEO India Organic Web

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions