Category Archives: Income Tax Adviser

Tax-Gyaan 2014-15

Posted on July 16, 2014 by admin

Tax-Gyaan2014-15 More PowerPoint presentations from Lalit Khandelwal

Posted in Income Tax, Income Tax Adviser | Comments Off on Tax-Gyaan 2014-15

Advance tax exemption to senior citizens applicable from FY13

Posted on August 26, 2013 by admin

by SC Vasudeva Q. I became a senior citizen in December 2011. I e-filed my income tax return for the financial year 2011-12 (AY 2012-13) in July 2012. The State Bank of Patiala gave me the TDS details on my … Continue reading →

Posted in Income Tax, Income Tax Adviser | Comments Off on Advance tax exemption to senior citizens applicable from FY13

Form 15-H applicable only if total income is nil

Posted on August 21, 2013 by admin

by SC Vasudeva Q. I am an assessee aged over 83 years. My taxable income is little over Rs 5 lakh. My income is from pension, SCSS, MIS and fixed deposit in banks only. It is learnt that a senor … Continue reading →

Posted in Income Tax, Income Tax Adviser | Comments Off on Form 15-H applicable only if total income is nil

No tax on monetary gift to parents

Posted on July 8, 2013 by admin

A.N. Shanbhag Q: I have a small apartment on the outskirts of Mumbai which I have let out for a rent of Rs 11,000 pm. I have no other income in India. Would I have to pay any tax on … Continue reading →

Posted in Income Tax, Income Tax Adviser | Comments Off on No tax on monetary gift to parents

Fixed medical, mobile allowance taxable

Posted on June 10, 2013 by admin

by SC Vasudeva Q. I have been serving as lecturer in Govt Senior Secondary School, Khuian Saredar, Fazilka. I have been getting medical allowance Rs 500, mobile allowance Rs 500, BHRA (Border area allowance) (5% of basic pay) in lieu … Continue reading →

Posted in Income Tax, Income Tax Adviser | Comments Off on Fixed medical, mobile allowance taxable

Senior citizens not liable to pay advance tax

Posted on May 28, 2013 by admin

by SC Vasudeva Q. While presenting Budget for F.Y. 2012-13 on 28.2.2012, the Finance Minister had announced that senior citizens would be exempted from paying advance tax in case of income from salary and interest on bank deposit etc. But … Continue reading →

Posted in Income Tax, Income Tax Adviser | Comments Off on Senior citizens not liable to pay advance tax

No tax on leave encashment

Posted on April 16, 2013 by admin

by SC Vasudeva Q. a) I retired from Hisar Agricultural University (funded by the state government as well as by the Indian Council of Agricultural Research) on March 31, 2010 at the age of 60. My retiral dues were released … Continue reading →

Posted in Income Tax, Income Tax Adviser | Comments Off on No tax on leave encashment