Can A.O Ask For Accounts From Salaried Employees During Scrutiny ?

I am a salaried employee. I had received a notice for assessment last year in 2009. Then it was adjourned sine die. It was revived again in March, 2010, and in first hearing itself AO asked for statement of affairs including capital account and credit card statements for last 3 years. I am only wondering [...]

When Are You Liable to Pay Advance Tax?

I am 57 years old housewife and my total earnings from Bank FD’s for FY 2009-2010 will be approx Rs 388600 and i will be making an investment of Rs 100000 under ELSS. Need to know, how do i pay income tax on my interest income. Should i pay this at the time of IT [...]

What To Do if Return Filed Without Declaring Interest on NSC ?

I have invested Rs.30000 in 6-Years NSC on 29/03/2003. to take a benefit of tax rebate under chapter VIII.The date of maturity was 29/03/2009. The maturity amount is     Rs. 60450/. I have not added the yearly interest amount as an Income in my Income Tax return. But i forgot to show this interest amount (60450-30000=30450) [...]

Can We Continue to File Return in Name of Deceased Till Maturity of FD?

My client having FDRs in Banks, Investment in NSCs, & 5 year tax saving deposits etc., Nominations for the said deposits made in the name of family members like wife, Son, daughter and grad son etc., Each year he is reporting the Income from said deposits on accrual basis.He expired on 17-8-2008. My doubts are [...]

Should Return Filing Discontinued in Case Of Death of an Individual?

My aunt died on 18.04.2009. whether her income tax file should be filed for the assessment year 2009-10 or not ?. if not then why and if yes then who will sign the ITR papers in what capacity ?. Shall her file continue to be filed there after or discontinue ?. what will be the [...]

Which Tax Return Form Should Be Used In Case Of One Time Counsltancy Fee Receipt!

I have income from pension and interest only. But I have one casual income for the year ending 31-3-2009, a one-time consultation fee for service rendered from a private company. What IT form should I use now? Earlier years, I had used ITR 1.R.V.Ramachandran , Banglore

ITR-4 is used by person receiving income from “business or [...]

How To File TDS Return Without Sufficient Numbers of PAN of Deductees?

As per instructions issued by the Central Board of Direct Taxes (CBDT), it is mandatory for deductors to file TDS/TCS statements with a threshold limit of Permanent Account Number (PAN) of deductees. ReadPAN Percentage FOR TDS/TCS Return Enhanced!
NSDL has put following solution for overcoming problem in filing TDS returns because of insufficiency of PAN [...]

Download Return For Assessment Year 2009-10

The New return Forms ITR-1, ITR-2, ITR-3, ITR-4, ITR-5 ,ITR-6, ITR-7,ITR-8 and Acknwledgment for Assessment year 2009-10 have been notifed and now can be downloaded. For this reason, you should not use the old forms valid for Assessment Year 2008-09 . Download the forms from below:

ITR-1 [...]

Where Should The Return Of Non Resident Be Filed?

I had a peculiar situation last year when it was my first time filing returns as an NRI. I e-filed the returns on the Income Tax website with my address in Singapore and Pin Code as 999999. Surprisingly, my father was told that the local income tax office cannot accept the ITR-V since the address [...]

Am I Supposed To Apply For New PAN If I Am Transferred to New Place?

I was working in Kolkatta and had taken PAN No. at Kolkata address.Now I am transferred to Mumbai and I request you to clarify -1. Can I submit my IT Returns at Kolkatta but my currently I do not stay at the address given in PAN.2. Do I have to transfer my IT file to [...]

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