Tax matters: Kamal Rathi

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Invest in capital gains scheme to avoid tax

I have inherited a property from my uncle. It has been transferred to my name through his will, which was probated in 1977. The property was acquired by my uncle in 1954 and since then improvements we

Don’t have PAN? Face higher TDS on interest

I have taken a HDFC standard life policy in the name of my wife who is house wife and unemployed. The premium is `16,000 per year. I paid first half-yearly premium on May 30 and the second on November

Gratuity up to `10 lakh will not be taxed

I have been working in UK since 2005 and have been paying tax in UK and filing returns here. My wife is a housewife and does not have any income. I would like to raise the following queries as regard

Payment on death of beneficiary is tax-free

In 2009-10 my wife had earned `2,86,200 this comprised of short-term capital gains of `1,87,320 from trading and investments in shares through stock exchange and interest from bank deposits of `98,880

Changes in PAN card are just a click away

I would to like to request the income-tax department to change the spelling of my name on my Pan Card from Veerender to Virender. Kindly tell me, whom do I have apply to and what documents are require

Set-off loss on house property with salary

I purchased a plot in 1996 on the outskrits of Kolk-ata for `8 lakh and built a house on it with `35 lakh. I have recently sold the whole property for `95 lakh. I want to invest in capital gain bonds

Indexed cost will help in finding capital gains

Q) I retired from a company about 10 years ago. Now I am 64 and not filing any income-tax returns, after my retirement. My current income is below the income limit. Now I want to sell a plot of land f

Tax on rented house qualifies for deduction

I have been filling my income-tax returns at Nasik for the last 20 years. Now I have retired and shifted to Kolkata in July 2010. Can I still continue filing my returns at Nasik?
Ajit Kumar Guha
Via e

Gratuity isn’t taxable in hands of nominee

Q) My company deducts home loan instalment from my salary and pays it directly to the banker. In this case, does my employer required to deduct tax at source on the interest paid to the banker for the

No income limit for claiming travel sops

I am a retired person, aged about 60 years and my wife is about 56. All my earnings were from outside India (NRI). Now since, I became an Indian Citizen. I have transferred all NRI deposits to normal

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