I am a retired university officer drawing a monthly pension of Rs 23,000. Now I am working as a consultant in a private university. The university will give me Rs 20,000 as consultancy fees and Rs 5,0

Q) I am an employee in a public sector firm and my wife is a retired state government employee drawing a pension. I have rented out a property for a total of `18,000 per month. Under the terms of the

I have been told that I can invest maximum Rs 4.5 lakh in a single post office monthly income account. If I opt for a joint account with my wife, it seems I can invest Rs 9 lakh. But half of such inve

I am an NRI and my wife stays in India. She is into share trading and incurred a loss of about Rs 3 lakh in 2009-10. She has no other income. During 2009-10, she was staying abroad with me for about two years. I have two questions:

I am a central government employee. I have received Rs 3,40,839 as salary for the period between March 1, 2009 and February 28, 2010. Total deductions are Rs 1,00,480. My company has deducted TDS of Rs 8,277 for Rs 2,40,399 taxable income. The Form 16 shows Rs 21,713 as arrears for 2008-09 and Rs 65,859 for 2007-08, but it has not claimed tax relief under Section 89.

I am a government employee. I am planning to deposit Rs 2 lakh or more in a bank as a fixed deposit or purchase a Kisan Vikas Patra in the name of my wife, who is a home maker and does not have any income. In that case, will the interest earned by her at the maturity be taxable?

I am a senior citizen aged 69 years. For the assessment year 2010-11, my income from other sources was Rs 2.1 lakh, Rs 80,000 was under the head capital gains on sale of equity shares, which is exempt from income tax.

I bought a property in a gated community through two agreements with the builder — one for the purchase of land and the other for the construction of a villa. The land was registered in my name in October 2005. The construction of the villa commenced immediately after I bought the land and the work got completed in September 2008.
Now I want to sell the villa. I wanted to know whether I can treat the gain on sale of the land portion as long term capital gain.

I am working with a private firm as an accountant. I have a query regarding rent payable, account adjusted to rent, deposit account. For example, if we are paying Rs 1 lakh rent plus Rs 10,300 service tax at the rate of 10.3 per cent. We deduct TDS of Rs 10,000 (on the rent only). We had paid two months of rent — Rs 2 lakh — as a

I have invested Rs 1 lakh for five years in the tax planner scheme exempted under Section 80C with compounding interest till the end with “No loan no preclosure” and will be getting Rs 1.76 lakh at the end of five years.