FINANCIAL YEAR 2010-11 ASSESSMENT YEAR 2011-12

I am salaried employee and staying in rental home so getting HRA in payslip.

However, I want to purchase new flat (with housing loan) and give it on rent to get some regular income. (Will pay tax on rent.)

Can I get HRA as well as benefit of Housing loan in tax deduction?

Thanks,
Nitin

Since this calendar is the accepted norm for the measure of time, the human race has been trying to measure time for 1000s. The story of the clock on an breitling watches  equal footing with that of the technology.

Please guide me in knowing about my tax liability.

I am a full time lecturer earning a salary of Rs. 28000 per month. I fall in 30% tax slab. In addition, I am an IRDA and AMFI licensed agent and earn commissions on the insurance policies and mutual funds investments done for my clients.

I have following questions:

1) Should I file my IT return using ITR-1 form?

"X" is a business man. he has submitted his income tax return by computing profits by appling sec 44 AF i.e 5% of sales. while submitting income tax return "X" has not disclosed one of his bank account in which he has deposited cash amounting to 17,00,000/- during the year . A.O has stated in his order that assessee has consilled this bank account and addded 17,00,000/- in his income.

The income tax slabs keep on changing a bit every year and we people belonging to the technical field end up playing catch up with it. Please let me know as to,
1) what are the IT slabs for the tax return being filed on or before july-10. I am in a hurry because the last date for the submission of IT savings declaration is 10th Feb'10 in our office.

I am a chartered accountant and i ve B1 US visa and i am planning for a trip to canada as a tourist. My cleint in US wants me to work from canada (work from home ). he is ready to pay me in INR and my income will be taxable in india ? Can i work from canada in tourist visa by getting salary in inr .. Can someone pls help ?

Thanks

Hi,

When I joined my present company in June 2009, I was paid a shifting charge of Rs. 30,000 and temporary accomodation (hotel) charge of Rs. 21,000. However the company has added those to expenses to my income and already deducted taxes.

can anybody give the details of income tax act regarding the formation of HUF, requitition or non requitition of child (male or female )to form HUF.